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Schaeffler Reported Strong Revenue Growth In The Fourth Quarter Of 2017
Jan 22, 2018

Schaeffler Reported Strong Revenue Growth in the Fourth Quarter of 2017


    On January 15th 2018, Schaeffler Group, the global automotive and industrial supplier, today reported preliminary revenue figures for 2017, which grew by 5.9% at a fixed exchange rate. To about 14 billion euros (last year: about 13.3 billion euros, at a fixed exchange rate, revenue rose 8.5% in the quarter of 4th. It was about 3.5 billion euros (last year: about 3.4 billion euros), the highest quarterly increase in Schaeffler's history in recent years. As a result, Schaeffler exceeded its 2017 full-year revenue forecast. At a fixed exchange rate, it's significantly higher than 2017's full-year revenue of 4% or 5% Expectations.

    Both of Schaeffler's major business divisions contributed to the encouraging results, with revenues growing by about 5.9% at a fixed exchange rate. It rose to 10.9 billion euros (last year: about 10.3 billion euros), and in 2017 revenue grew at a fixed exchange rate of 5.6 euros, or about 3.1 billion euros, in the 4th quarter. The industry division grew by 9 percent at a fixed exchange rate, outpacing the auto unit's growth rate of 8.3%. The data showed that the division had returned to its long-term steady momentum of development.

     Thanks to strong growth in the third quarter of 4th, the Schaeffler car business grew faster than global passenger and light commercial vehicle production growth. In 2017, the car market grew by about 2.3%. The auto division outperformed the market by 3. 6. The strong performance in the 4th quarter was above 7. 2.

    Schaeffler Group contributed to this growth in 2017 from all over the world. Schaeffler's Greater China revenues, at a fixed exchange rate, were again growing at a high rate of 24.1%.

    At a fixed exchange rate, revenue in the Asia-Pacific region rose 5.7 percent, the Americas rose 4.6 percent, and Europe grew 1.4 percent. The CEO of the Schaeffler Group, Klaus Rosenfeld, said, "We succeeded in extending the momentum of rapid growth in 2017. The strong growth trend in the second half of the year was particularly satisfactory. We exceeded our full-year revenue forecast of 4 percent to 5 percent. Revenue is expected to remain positive in 2018.

    The overall strong growth in the automotive business was attributed to the mainframe business (up 6.6 at a fixed exchange rate) and after-sales business (up 3.2 at a fixed exchange rate). As previously announced on October 2017. Since January 1st 2018, the Schaeffler group's automotive aftermarket business has been separated from its automotive division to establish an independent division led by Michael Zedingen, aged 55. In addition, since January 1st 2018. Schaeffler has established a separate electric drive business that integrates all hybrid and pure electric vehicle products and solutions.

     Rosenfeld said: "with the new organization established in 2018, we will continue to promote the transformation of the Schaeffler Group. We hope to further enhance the focus on customer needs, and focus on the continued growth of the enterprise"

    On March 7th 2018 th, Schaeffler Group will release full-year financial data at its annual results press conference in Munich.