Mexican Media Brands
Schaeffler Profit Slips 2%
Germany precision bearings maker Schaeffler AG netted €872 million last year compared with €889 million in 2011, despite a 4% revenue gain to €11.1 billion.
#economics
Share
Germany precision bearings maker Schaeffler AG netted €872 million last year compared with €889 million in 2011, despite a 4% revenue gain to €11.1 billion.
Net income was bolstered by a 71% surge to €554 million in the company's share of the profit of Continental AG, in which the company holds a majority stake.
Schaeffler's earnings before interest and taxes tumbled 33% to €1.4 billion last year. EBIT slid to 12.7% of sales from 15.8% in 2011.
The company says revenue climbed 18% in North America, 10% in Asia and less than 1% in Europe in 2012. Sales increased 7% to €7.7 billion at Schaeffler's automotive unit but declined 2% to €3.4 billion at its industrial business.
The company predicts its revenue will grow 4% this year, and EBIT margin will hold steady at about 13%.
RELATED CONTENT
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
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.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.