Supplier Schaeffler
Since the sharp rise in raw material prices could only be partially offset, the car supplier’s sales collapsed sharply. However, the forecast for the year is retained.
(Photo: dpa)
The automotive and industrial supplier Schaeffler suffered significant injuries in the second quarter due to increased costs and corona lockdowns in China. Earnings before interest and taxes, adjusted for special effects, fell by a good third to 200 million euros compared to the same period last year, as the company announced on Thursday in Herzogenaurach.
The bottom line is that profits have halved to 113 million euros. Sharp rises in procurement costs could only be partially offset by price increases, and customer call-offs from car manufacturers were also impacted by the unstable situation in the industry. The management around boss Klaus Rosenfeld maintained the forecast for the year.
Overall, sales increased by 9.7 percent to 3.79 billion euros. Business with general industry continued to go well. However, currency-adjusted growth of only 1.3 percent was achieved in the automotive supply business. The China region in particular caused a headwind with corona lockdowns, where revenues fell noticeably.