DGAP-Adhoc: Schaeffler AG: Schaeffler adjusts 2019 full-year guidance

2019. július 29., hétfő, 19:02





DGAP-Ad-hoc: Schaeffler AG / Key word(s): Change in Forecast


Schaeffler AG: Schaeffler adjusts 2019 full-year guidance


29-Jul-2019 / 19:02 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




Schaeffler adjusts 2019 full-year guidance

 



HERZOGENAURACH, July 29, 2019. Schaeffler AG (ISIN DE000SHA0159, WKN SHA015) today decided to adjust its 2019 full-year guidance for the Schaeffler Group as a whole and for its divisions.





Schaeffler Group now expects global automobile production to decline by 4 percent for 2019. On February 19, 2019 Schaeffler Group had anticipated a decline of 1 percent. This deterioration in market conditions for the group"s Automotive OEM division, in particular in China and Europe, since the beginning of the year and the associated volume effects require an adjustment of the 2019 full-year guidance. Moreover, lower demand from certain key accounts in the Automotive Aftermarket let to a downward revision of the divisional sales guidance, while higher than expected demand in certain sectors in the Industrial division led to an upward revision.





Against this background, the Schaeffler Group now anticipates revenue growth (at constant currency) of minus 1 to plus 1 percent (previously 1 to 3 percent) for 2019, an EBIT margin (before special items) of 7 to 8 percent (previously 8 to 9 percent), and a free cash flow before cash in- and outflows for M&A activities of EUR 350 to 400 million (previously approximately EUR 400 million).





The guidance for each of the three divisions now is as follows:




























Divisional guidance Automotive OEM Automotive AM Industrial
  Old New Old New Old New
Revenue growth1)

(in %)
1-3% -2-0% 1-3% -2-0% 1-3% 2-4%
EBIT margin2)

(in %)
6-7% 5-6% 15-16% 15-16% 10-11% 10-11%

 

1) at constant currency
2) before special items



"Revenue growth (at constant currency)", "EBIT margin (before special items)" and "Free cash flow before cash in- and outflows for M&A activities" are defined in the Annual Report 2018 on pages 34f and 56f, which is available at www.schaeffler.com."


 


Contact:







Thorsten Möllmann, Senior Vice President Global Communications

& Branding, Schaeffler AG, Herzogenaurach, Germany

Phone +49 9132 82-5000, e-mail: presse@schaeffler.com
Renata Casaro, Head of Investor Relations,

Schaeffler AG, Herzogenaurach, Germany

Phone +49 9132 82-4440, e-mail: ir@schaeffler.com
Dr. Axel Lüdeke, Vice President Business and Financial Communications & PR, Schaeffler AG, Herzogenaurach, Germany

Phone +49 9132 82-5000, e-mail: presse@schaeffler.com
Jens Briemle, Investor Relations,

Schaeffler AG, Herzogenaurach, Germany

Phone +49 9132 82-4440, e-mail: ir@schaeffler.com

 











29-Jul-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



























Language: English
Company: Schaeffler AG

Industriestr. 1-3

91074 Herzogenaurach

Germany
Phone: 09132 - 82 0
E-mail: ir@schaeffler.com
Internet: www.schaeffler.com
ISIN: DE000SHA0159
WKN: SHA015
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange
EQS News ID: 848329





 
End of Announcement DGAP News Service




848329  29-Jul-2019 CET/CEST







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