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Schaeffler AG (SHA_p.DE)

SHA_p.DE on Xetra

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Latest Key Developments (Source: Significant Developments)

Schaeffler To Sell Plant In Hamm, Germany To Management
Monday, 1 Jul 2019 

July 1 (Reuters) - Schaeffler AG ::DGAP-NEWS: SCHAEFFLER AG: SCHAEFFLER TO SELL PLANT IN HAMM TO MANAGEMENT.MANAGEMENT TEAM SEES GOOD PROSPECTS FOR STAND-ALONE BUSINESS.NEW COMPANY TO BE KNOWN AS INNO FRICTION GMBH.MANAGEMENT BUYOUT WILL SAVE ALL 110 JOBS AT HAMM LOCATION.PARTIES HAVE AGREED NOT TO DISCLOSE PURCHASE PRICE.  Full Article

Hastings Technology Metals Signs Offtake MoU With Schaeffler AG
Tuesday, 11 Jun 2019 

June 11 (Reuters) - Hastings Technology Metals Ltd ::SIGNED AN OFFTAKE MEMORANDUM OF UNDERSTANDING (MOU) WITH SCHAEFFLER AG.DEAL FOR FUTUR SUPPLY OF MIXED RARE EARTH CARBONATE (MREC) FROM ITS YANGIBANA PROJECT IN WESTERN AUSTRALIA.  Full Article

Schaeffler Q1 EBIT At EUR 230 Mln
Wednesday, 8 May 2019 

May 8 (Reuters) - SCHAEFFLER AG ::CONFIRMS FULL-YEAR GUIDANCE.GROUP GENERATED APPROXIMATELY 3.6 BILLION EUROS IN REVENUE IN Q1 OF 2019.EBIT OF 230 MILLION EUROS (PRIOR YEAR: 391 MILLION EUROS) DURING FIRST THREE MONTHS.EXPECTS TO ACHIEVE FULL-YEAR GUIDANCE FOR 2019 ON THAT BASIS.  Full Article

Schaeffler And Mitsubishi Electric Announce Global Strategic Partnership
Friday, 5 Apr 2019 

April 5 (Reuters) - SCHAEFFLER AG ::SCHAEFFLER AND MITSUBISHI ELECTRIC ANNOUNCE GLOBAL STRATEGIC PARTNERSHIP.  Full Article

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