2020-07-08
http://w3.windfair.net/wind-energy/news/34409-schaeffler-supplier-automotive-industry-ebit-quarter-q1-corona-covid-19-balance-sheet-guidance-costs

Schaeffler Publishes Report for Q1

Image: SchaefflerImage: Schaeffler
The supplier reports robust earnings and strong free cash flow for Q1, but won't publish specific guidance for 2020

Official Press Release Schaeffler:

Schaeffler reports robust earnings and strong free cash flow for 1st quarter 2020

Wind Industry Profile of
Schaeffler reports robust earnings and strong free cash flow for 1st quarter 2020

Revenue down 9.2 percent at constant-currency due to the coronavirus crisis – EBIT margin before special items at 6.5 percent (prior year 7.5 percent) / Specific guidance for 2020 currently still not possible

Global automotive and industrial supplier Schaeffler presented its interim report for the first three months of 2020 today. The Schaeffler Group’s revenue for the reporting period amounts to 3,282 million euros (prior year: 3,622 million euros). At constant currency, revenue for the period decreased by 9.2 percent, mainly driven by volumes. Revenue declined in all four regions during the first quarter. The decrease at constant currency amounted to 11.2 percent in the Greater China region, 10.4 percent in Europe, 9.3 percent in Asia/Pacific, and 6 percent in the... ... More: Official Press Release Schaeffler

Keywords:
Schaeffler, supplier, automotive, industry, EBIT, quarter, Q1, Corona, COVID-19, balance sheet, guidance, costs







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