Schaeffler: Strong Q3

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Global automotive and industrial supplier Schaeffler presented its interim report for the first nine months of 2020 today. The Schaeffler Group generated 8,971 million euros in revenue during the period (prior year: 10,839 million euros).

Third-quarter revenue slightly below prior year quarter (down 2.6 percent) Third-quarter EBIT margin before special items of 9.4 percent significantly improved from first six months (1.2 percent) and ahead of prior year quarter (9.1 percent) Recovery in 3rd quarter primarily driven by the two Automotive divisions; Industrial division revenue trend improved slightly compared to first half of 2020 Free cash flow before cash in- and outflows for M&A activities of 333 million euros slightly... ... More: Official Press Release Schaeffler AG

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Schaeffler, Q3, automotive supplier, industrial supplier, China, wind energy, Germany, automobil, quarter, 2020