HERZOGENAURACH: Automotive and industrial supplier Schaeffler was able to continue moving along its successful course in 2015. The company expanded its revenue by 9.1 percent to EUR 13.2 billion. “We were able to considerably increase our revenue in the previous year, despite the challenging environment. We are planning to continue on our profitable growth path in 2016, as well. Our strategic concept “mobility for tomorrow” puts us in a good position to do that,” said Klaus Rosenfeld, CEO.
With its growth rate of 11.2 percent compared to the prior year, the Automotive division once more clearly outpaced the increase in production volumes of passenger cars and light commercial vehicles of 1 percent. The OEM business benefitted from the high level of demand for Schaeffler products in the U.S. and strong growth in China in the first half of 2015. During the latter half, demand in the Asia/Pacific region picked up noticeably. The Automotive division also profited from above-average revenue growth in the Aftermarket business.
The company’s Industrial business generated growth of 3.0 percent in 2015. Especially the wind power and motorcycle sector businesses contributed to the growth. The realignment of the Industrial division (CORE program) is progressing on schedule. The realignment is aimed at improving the efficiency and competitive position of the Industrial business for the long term in order to facilitate profitable growth. The division is aiming for an EBIT margin of 13 percent by 2018.
All four of the Schaeffler Group’s regions reported revenue increases in 2015, with currency translation making a favorable impact on revenue. The growth dynamic varied widely across regions. Revenue grew fastest in the Schaeffler Group’s Greater China region, rising by 23.5 percent over prior year there, followed by the group’s Americas region, where revenue increased by 17.5 percent. The Asia/Pacific region reported revenue growth of 13.5 percent, while the Europe region grew by 2.1 percent.
