Schaeffler AG: Schaeffler AG publishes full-year guidance for 2020

Schaeffler AG publishes full-year guidance for 2020
 

HERZOGENAURACH | 9 November 2020 | The Board of Managing Directors of Schaeffler AG (ISIN DE000SHA0159, WKN SHA015) today agreed on a new full-year guidance for 2020 based on the most current information concerning the course of business in the fourth quarter. On March 24, 2020, the Board of Managing Directors had suspended the full-year guidance for 2020 published on March 10, 2020, and, due to the extraordinary uncertainty related to the coronavirus pandemic, had recently been anticipating results below prior year levels.

The new guidance is based on the assumption that the sales markets relevant to the Schaeffler Group will continue to recover in the fourth quarter of 2020 and, specifically, that the coronavirus pandemic will not result in any significant new adverse implications for the company's results of operations. Nevertheless, the environment remains marked by volatility and uncertainty.

The Schaeffler Group expects its full-year revenue to grow by -13.0 to -11.5 percent at constant currency in 2020. In addition, the company expects to generate a full-year EBIT margin (before special items) of 4.5 to 5.5 percent in 2020. The Schaeffler Group also anticipates between 500 to 600 million euros in free cash flow before cash in- and outflows for M&A activities for 2020.

The key figures for the three divisions are as follows:

¹⁾ at constant currency; ²⁾ before special items

The interim report of Schaeffler Group for the first nine months 2020 will be published as planned on 10 November 2020.

"Revenue growth (at constant currency)", "EBIT margin (before special items)" und "free cash flow before cash in- and outflows for M&A activities" have the meaning ascribed to them in the annual report 2019 on pages 15 and 30, which may be retrieved under www.schaeffler.com.