Mexican Media Brands
Schaeffler Earnings Rise on Record Sales
Bearings supplier Schaeffler Group says its January-June earnings before interest and taxes climbed 9% to €787 million on record revenue of €6 billion, up 7% from the first half of 2013.
#economics
Share
Bearings supplier Schaeffler Group says its January-June earnings before interest and taxes climbed 9% to €787 million on record revenue of €6 billion, up 7% from the first half of 2013.
The company's automotive business expanded 9% to €4.4 billion for the six-month period. Results were aided by a 25% jump in sales in China. Sales climbed 9% in the remainder of Asia Pacific and 5% in Europe. Revenue gained 1% in the Americas.
Schaeffler confirms its earlier guidance of full-year revenue growth of more than 7% and an EBIT margin of 12%-13%.
The company says its global employment grew by 1,800 people to a record 80,400. Most of the additions were production workers in Europe and China.
RELATED CONTENT
-
GM: The Drive to Profitability, Part 1
General Motors released rather impressive numbers for 2015.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
Auto vs. Tech: Guess Who Wins
Matthew Simoncini, president and CEO of Lear Corp., provided some fairly compelling figures this week at the CAR Management Briefing Seminars that show just how out-of-whack the valuations of tech companies are vis-à-vis auto companies.