Schaeffler Forecasts Slower 2012 Revenue Growth on Weak Europe

Resource from: BLOOMBERG L.P. Likes:2972

Mar 22,2012

Schaeffler AG, the world’s second- biggest maker of roller bearings, forecast slower sales growth and lower profitability in 2012 as the European market weakens. Earnings before interest and taxes in 2012 will represent more than 13 percent of revenue, which will climb more than 5 percent, the Herzogenaurach, Germany-based company said in a statement today. The 2011 Ebit margin was 15.8 percent, while sales gained 13 percent to 10.7 billion euros ($14.2 billion). “We are currently seeing demand in the European markets weaken,” Chief Executive Officer Juergen Geissinger said in the statement. “Globally, however, our business is continuing to show a positive trend.” Schaeffler, which is closely held and accumulated 12 billion euros of debt from purchasing a controlling stake in car-parts maker Continental AG (CON) in 2008, became a joint-stock corporation in October to improve access to outside funding. The company had net financial debt of about 7.1 billion euros at the end of 2011. An 18 percent increase in Asian sales last year led revenue increases, while the industrial division’s 15 percent growth exceeded the 13 percent gain at the automotive unit. Growth last year surpassed the company’s targets of more than 10 percent sales growth and an operating margin of more than 13 percent. Net income grew more than fourteen-fold in 2011 to 889 million euros from 63 million euros a year earlier. Operating profit gained 12 percent to 1.7 billion euros, Schaeffler said. To contact the reporter on this story: Alex Webb in Frankfurt at awebb25@bloomberg.net To contact the editor responsible for this story: Chad Thomas in Berlin at cthomas16@bloomberg.net

(BLOOMBERG L.P.)

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous Construction of NTN Noto Corporation Completed
Next The U.S. Commerce Department made a final decision Monday on retaliatory import duties on steel wheels from China.

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.