Schaeffler's sales increased 15% year-on-year in the first three quarters of the year

The Schaeffler Group of Germany announced that its sales in the first three quarters increased by 15% year-on-year to 8.1 billion euros ($10.8 billion), and sales of all businesses in all major markets increased.

From a market perspective, Schaeffler's sales in the European market (excluding Germany) increased by 18% year-on-year in the first three quarters. Sales in the Asian market increased by 16% year-on-year, and sales in the German domestic market increased by 14% year-on-year. .

In the first three quarters of this year, Schaeffler’s EBIT increased by 19% year-on-year to 1.3 billion euros (US$1.7 billion), and EBIT increased from 16.2% in the same period last year to 16.7%. Net income increased from 743 million euros (1 billion U.S. dollars) in the same period last year to 856 million euros (1.14 billion U.S. dollars).

In view of the financial situation in the first three quarters of this year, Schaeffler expects that sales this year will grow by more than 10% year-on-year, and the EBIT margin will exceed 13%. Last year, the company had sales of 9.5 billion euros (13 billion US dollars), and the EBIT margin was 16%.