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
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.