Schaeffler increases net income by 14% in 2017

Global automotive and industrial supplier Schaeffler increased its revenue to 14.0 billion euros (prior year: 13.3 billion euros) in 2017, growing by 5.9%t at constant currency.

The company’s EBIT margin for 2017 amounted to 11.3% (prior year: 12.7 percent).



The decrease is primarily due to expenses for the programme for the future Agenda 4 plus One.

Net income attributable to shareholders increased by approximately 14% to 980 million euros (prior year: 859 million euros) nonetheless, the highest ever in the history of the Schaeffler Group.

In 2017, the Schaeffler Group increased its capital expenditures by 127 million euros to 1,273 million euros (prior year: 1,146 million euros) and created approximately 3,500 new jobs. The number of employees rose to more than 90,000 (prior year: approximately 86,700) by the end of 2017.

Free cash flow for 2017 came in at 488 million euros (prior year: 735 million euros) due to the high level of capital expenditures, and the company further reduced its net financial debt. With its program for the future Agenda 4 plus One, the Schaeffler Group is firmly aligning itself toward the future.

Despite current imponderables, the outlook for the year 2018 remains generally positive, says the company.