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Schaeffler AG (SHA_p.DE)

SHA_p.DE on Xetra

7.12EUR
22 Mar 2019
Change (% chg)

€-0.06 (-0.89%)
Prev Close
€7.18
Open
€7.25
Day's High
€7.29
Day's Low
€7.09
Volume
1,512,339
Avg. Vol
1,534,119
52-wk High
€14.00
52-wk Low
€6.96

Latest Key Developments (Source: Significant Developments)

Schaeffler Gives Details Of Its Efficiency Program
Thursday, 21 Mar 2019 

March 21 (Reuters) - SCHAEFFLER AG ::SCHAEFFLER GIVES DETAILS OF ITS EFFICIENCY PROGRAM.FOUR LOCATIONS IN GERMANY ARE AFFECTED.INITIAL MEASURES FOR THE EFFICIENCY AND PORTFOLIO PROGRAM RACE HAVE BEEN DEFINED.DISCUSSIONS WITH EMPLOYEE REPRESENTATIVES ARE BEGINNING.PLAN IS TO REDUCE 900 JOBS ALTOGETHER, 700 OF THEM IN GERMANY..APPROXIMATELY 600 EMPLOYEES ARE CURRENTLY EMPLOYED AT THE FOUR LOCATIONS IN QUESTION.  Full Article

Schaeffler Successfully Places Investment Grade Bonds
Wednesday, 20 Mar 2019 

March 20 (Reuters) - Schaeffler AG ::DGAP-NEWS: SCHAEFFLER AG: SCHAEFFLER SUCCESSFULLY PLACES INVESTMENT GRADE BONDS.TOTAL BOND VOLUME OF EUR 2.2 BILLION IN THREE TRANCHES.USE OF PROCEEDS FOR REFINANCING OF EXISTING INDEBTEDNESS.INVESTMENT GRADE RATINGS CONFIRM STRONG BALANCE SHEET AND CAPITAL STRENGTH.THREE TRANCHES. - EUR 750 MILLION 1.125 % SENIOR NOTES, DUE 2022 - EUR 800 MILLION 1.875 % SENIOR NOTES, DUE 2024 - EUR 650 MILLION 2.875 % SENIOR NOTES, DUE 2027.NEWLY ISSUED INVESTMENT GRADE BONDS ARE EXPECTED TO BE SETTLED ON 26 MARCH 2019.EARLY REDEMPTION OF CALLABLE BONDS OF SCHAEFFLER FINANCE B.V. IS PLANNED FOR MAY 15, 2019.  Full Article

Schaeffler CEO: We Want To Return To Mid-Cap Index
Wednesday, 6 Mar 2019 

March 6 (Reuters) - Schaeffler AG CEO Klaus Rosenfeld to Reuters ::EXPECT RESTRUCTURING COSTS OF 60 MILLION EUROS FROM NEW COST CUTTING PROGRAMME.IT WOULD NOT BE SMART TO ANNOUNCE NEW MID-TERM TARGETS NOW, ENVIRONMENT WILL REMAIN DIFFICULT FOR NEXT 2 TO 3 YEARS.SCHAEFFLER DOES NOT BELONG TO THE SDAX (SMALL CAPS INDEX), WE WILL DO EVERYTHING IT TAKES TO RETURN TO MDAX (MID CAPS INDEX).  Full Article

Schaeffler Names New Executives For Americas And Asia/Pacific Regions
Wednesday, 6 Mar 2019 

March 6 (Reuters) - Schaeffler AG ::NEW CEOS FOR AMERICAS AND ASIA/PACIFIC REGIONS.EXECUTIVE BOARD BECOMES YOUNGER AND MORE INTERNATIONAL.EXECUTIVE BOARD WILL CONSIST OF EIGHT MANAGING DIRECTORS AND FOUR REGIONAL CEOS.TO APPOINT NEW REGIONAL CEOS FOR REGIONS AMERICAS AND ASIA/PACIFIC.ON OCTOBER 1, 2019, MARC MCGRATH (52) WILL ASSUME ROLE OF CEO FOR AMERICAS REGION FROM BRUCE WARMBOLD (63), WHO WILL RETIRE AT END OF YEAR.ASIA/PACIFIC REGION WILL BE LED BY DHARMESH ARORA (51).MR. ARORA PREVIOUSLY HELD MANAGEMENT POSITIONS IN INDIA, THAILAND, AND USA. ON OCTOBER 1, 2019, HE WILL SUCCEED HELMUT BODE (65).  Full Article

Schaeffler Sees 900 Job Cuts In Europe, Announces Restructuring
Wednesday, 6 Mar 2019 

March 6 (Reuters) - Schaeffler AG ::DGAP-NEWS: SCHAEFFLER AG: SCHAEFFLER LAUNCHES PROGRAM RACE.PROGRAM DESIGNED TO SUSTAINABLY INCREASE EFFICIENCY AND OPTIMIZE PORTFOLIO OF AUTOMOTIVE OEM DIVISION.SAFEGUARDING AND STRENGTHENING LONG-TERM VALUE ADDED IN THREE STAGES (2019-2024).INITIAL STAGE FOCUSES ON SIX EARNINGS LEVERS.STAGE I MEASURES AIMED AT IMPROVING EARNINGS BY APPROXIMATELY 90 MILLION EUROS (EBIT MARGIN 100 BASIS POINTS).MEDIUM-TERM TARGET IS AN EBIT MARGIN PERCENTAGE BEFORE SPECIAL ITEMS IN HIGH SINGLE-DIGITS.PROGRAM WAS MADE NECESSARY BY A NUMBER OF EXTERNAL AND INTERNAL FACTORS THAT HAD SIGNIFICANTLY WEAKENED DIVISION'S EBIT MARGIN BEFORE SPECIAL ITEMS FOR 2018.MEASURES AFFECT ALL FOUR BUSINESS DIVISIONS (ENGINE SYSTEMS, TRANSMISSION SYSTEMS, E-MOBILITY, AND CHASSIS SYSTEMS) AS WELL AS CORPORATE FUNCTIONS INTERNAL AND EXTERNAL TO DIVISION.PLANS TO FURTHER CONSOLIDATE ITS EUROPEAN PLANT NETWORK.THIS WILL LIKELY AFFECT FIVE EUROPEAN LOCATIONS WHERE AUTOMOTIVE OEM DIVISION MAINTAINS PRODUCTION SITES.AT PRESENT TIME IT IS ANTICIPATED THAT THESE CHANGES WILL RESULT IN A REDUCTION BY ABOUT 900 POSITIONS, INCLUDING ABOUT 700 POSITIONS IN GERMANY.RESEARCH AND DEVELOPMENT RATIO OF AUTOMOTIVE OEM DIVISION WILL BE RESTRICTED TO 8 TO 8.5 PERCENT IN 2019 AND 2020 TAKING INTO ACCOUNT IFRS 15.DIVISION WILL INCREASE ITS ORDER INTAKE IN E-MOBILITY AND CHASSIS MECHATRONICS UNITS TO 1.5 TO 2 BILLION EUROS P.A. OVER NEXT THREE YEARS.  Full Article

Schaeffler Sees Extremely Challenging Business Environment In 2019
Wednesday, 6 Mar 2019 

March 6 (Reuters) - Schaeffler AG ::DGAP-NEWS: SCHAEFFLER AG: SCHAEFFLER GROUP MEETS TARGETS IN 2018.REVENUE GROWS 3.9 PERCENT AT CONSTANT CURRENCY IN CHALLENGING ENVIRONMENT, EBIT MARGIN BEFORE SPECIAL ITEMS DECLINES TO 9.7 PERCENT (PRIOR YEAR: 11.3 PERCENT) IN 2018.EARNINGS OF BOTH AUTOMOTIVE DIVISIONS LOWER WHILE INDUSTRIAL DIVISION SIGNIFICANTLY IMPROVES EARNINGS (UP 47 PERCENT).FREE CASH FLOW BEFORE M&A ACTIVITIES OF 384 MILLION EUROS BETTER THAN EXPECTED.PROPOSED DIVIDEND OF 55 CENTS PER COMMON NON-VOTING SHARE AT PRIOR-YEAR LEVEL.CAUTIOUS GUIDANCE FOR 2019.AT CONSTANT CURRENCY, REVENUE INCREASED BY 3.9 PERCENT DURING THIS PERIOD.WE ARE ANTICIPATING THAT ENVIRONMENT, ESPECIALLY IN GLOBAL AUTOMOTIVE BUSINESS, WILL REMAIN EXTREMELY DEMANDING AND CHALLENGING.EARNINGS BEFORE FINANCIAL RESULT AND INCOME TAXES (EBIT) BEFORE SPECIAL ITEMS OF 1,381 MILLION EUROS IN 2018, (PRIOR YEAR: 1,584 MILLION EUROS), LESS THAN IN PRIOR YEAR.THIS REPRESENTS AN EBIT MARGIN BEFORE SPECIAL ITEMS OF 9.7 PERCENT (PRIOR YEAR: 11.3 PERCENT).NET INCOME ATTRIBUTABLE TO SHAREHOLDERS OF PARENT COMPANY FOR REPORTING PERIOD AMOUNTED TO 881 MILLION EUROS, FALLING SHORT OF PRIOR YEAR LEVEL (980 MILLION EUROS).SCHAEFFLER GROUP EXPECTS ITS REVENUE TO GROW BY 1 TO 3 PERCENT AT CONSTANT CURRENCY IN 2019.COMPANY EXPECTS TO GENERATE AN EBIT MARGIN BEFORE SPECIAL ITEMS OF 8 TO 9 PERCENT IN 2019.ANTICIPATES APPROXIMATELY 400 MILLION EUROS IN FREE CASH FLOW BEFORE CASH IN- AND OUTFLOWS FOR M&A ACTIVITIES FOR 2019.  Full Article

Schaeffler Opens State-Of-Art Automotive Aftermarket Logistics Facility In Mexico
Thursday, 14 Feb 2019 

Feb 14 (Reuters) - Schaeffler AG ::OPENS STATE-OF-ART AUTOMOTIVE AFTERMARKET LOGISTICS FACILITY IN MEXICO.OVER 5 MIO EUR INVESTMENT IN NEW AFTERMARKET KITTING OPERATION (AKO) AND OFFICE COMPLEX.  Full Article

Schaeffler Acquires Elmotec Statomat GmbH
Wednesday, 28 Nov 2018 

Nov 28 (Reuters) - Schaeffler AG ::DGAP-NEWS: SCHAEFFLER AG: SCHAEFFLER ACQUIRES ELMOTEC STATOMAT GMBH.EXPANSION OF SCHAEFFLER'S TECHNOLOGY AND INDUSTRIALIZATION EXPERTISE IN FIELD OF ELECTRIC MOTOR PRODUCTION.IT HAS BEEN AGREED THAT PURCHASING PRICE WILL BE KEPT SECRET.AGREED THAT PURCHASING PRICE WILL BE KEPT SECRET.ACQUISITION IS TO BE COMPLETED DURING Q1 OF 2019.  Full Article

Schaeffler Adjusts 2018 Guidance, Blames Market Volatility
Tuesday, 30 Oct 2018 

Oct 30 (Reuters) - Schaeffler AG ::DGAP-ADHOC: SCHAEFFLER AG: SCHAEFFLER ADJUSTS 2018 FULL-YEAR GUIDANCE.IS NOW GUIDING FOR 2018 FULL-YEAR REVENUE GROWTH OF 4 TO 5 PERCENT AT CONSTANT CURRENCY.NOW SEES 2018 EBIT MARGIN BEFORE SPECIAL ITEMS OF 9.5 TO 10.5 PERCENT.HAS DECIDED TO ADJUST ITS FULL YEAR 2018 GUIDANCE FOR SCHAEFFLER GROUP AS A WHOLE AND FOR ITS AUTOMOTIVE OEM AND AUTOMOTIVE AFTERMARKET DIVISIONS. .BASED ON PRELIMINARY FIGURES, SCHAEFFLER GROUP GENERATED REVENUES OF EUR 3,521 MILLION (PRIOR YEAR: EUR 3,434 MILLION) AND THIRD-QUARTER EARNINGS BEFORE FINANCIAL RESULT AND INCOME TAXES (EBIT) OF EUR 376 MILLION (PRIOR YEAR: EUR 416 MILLION).OUTLOOK ADJUSTED AGAINST BACKGROUND OF INCREASING MARKET VOLATILITY IN GLOBAL AUTOMOTIVE BUSINESS.NOW SEES 2018 FREE CASH FLOW BEFORE INFLOWS AND OUTFLOWS FOR M&A ACTIVITIES OF APPROXIMATELY EUR 300 MILLION.IN Q3, GROUP'S REVENUES GREW 3.7 PERCENT AT CONSTANT CURRENCY.FURTHER DETERIORATION OF MARKET CONDITIONS IN COMPANY'S AUTOMOTIVE OEM BUSINESS IN CHINA.ON THIS BASIS, REVENUES FOR FIRST NINE MONTHS OF YEAR WERE EUR 10,714 MILLION (PRIOR YEAR: EUR 10,480 MILLION), CORRESPONDING TO GROWTH OF 5.1 PERCENT AT CONSTANT CURRENCY.WEAKER-THAN-EXPECTED THIRD-QUARTER SALES PERFORMANCE IN ITS AUTOMOTIVE AFTERMARKET DIVISION CONTRIBUTED TO GUIDANCE CHANGE.GROUP'S EBIT BEFORE SPECIAL ITEMS IN Q3 2018 WAS EUR 355 MILLION (PRIOR YEAR EUR 416 MILLION) AND EUR 1,150 MILLION (PRIOR YEAR: EUR 1,196 MILLION) FOR FIRST NINE MONTH.  Full Article

Schaeffler Extends CEO Klaus Rosenfeld's Contract
Friday, 5 Oct 2018 

Oct 5 (Reuters) - Schaeffler AG ::DGAP-NEWS: SCHAEFFLER AG: KLAUS ROSENFELD APPOINTED CEO OF SCHAEFFLER AG FOR A FURTHER 5 YEARS.SUPERVISORY BOARD OF SCHAEFFLER AG DECIDED TO RENEW CONTRACT OF KLAUS ROSENFELD TO JUNE 30, 2024.  Full Article

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Sliding car stocks drag Europe down as investors hit the brakes

LONDON European shares stalled on Wednesday as weak results from the troubled auto sector weighed and investor confidence in a rally that has sent stocks shooting up this year showed signs of fraying.