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Schaeffler Operating Profit Surges 36%
Schaeffler Group's earnings before interest and taxes climbed to €428 million in the third quarter of 2013 from €314 million in the same period last year.
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Schaeffler Group's earnings before interest and taxes climbed to €428 million in the third quarter of 2013 from €314 million in the same period last year. Net income fell 8% to €936 million.
Third-quarter sales for the German components supplier advanced 8% to €3 billion. The company attributes much of the improvement to increasing production in Europe and China.
Schaeffler reiterates its full-year guidance of 7% revenue growth, continued EBIT of 12%-13% and positive cash flow.
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