Schaeffler Group back to Profitable Growth

Schaeffler Group, one of the world’s leading automotive and industrial suppliers, set new records in sales and operating results in 2010. “2010 was an extremely successful year for Schaeffler Group. With sales of €9.5 billion, up 29 percent, we managed an excellent comeback in 2010,” stated Dr. Juergen M. Geissinger, CEO of Schaeffler Group, at the annual financial press conference in Frankfurt/Main. “Both divisions – Automotive and Industrial – recorded significantly higher sales in 2010. We were able to outpace the high demand in the automotive and industrial sectors, thanks to our strong presence in regional growth markets and our focus on innovative products and solutions.” In the Automotive division sales increased 34 percent to €6,341 million (2009: €4,743 million), while sales in the Industrial division rose 20 percent to €3,012 million (2009: €2,513 million). EBIT of Schaeffler Group increased to €1,509 million, resulting in an EBIT margin of 15.9 percent.
Net income amounted to €63 million (2009: net loss of €1,204 million). Without the one-off dilution loss of €396 million in connection with the rights issue at Continental AG in January 2010, net income would have been €459 million.
Schaeffler Group’s workforce has increased by nearly ten percent to 67,509 (2009: 61,536), including 27,938 employed in Germany (2009: 26,670).