The shares of Schaeffler were noticed on Tuesday morning with a price drop of up to 5 percent to 5.36 euros. This means that the shares of the automotive supplier and industrial group gave up around two thirds of a five-day recovery and also dragged down the shares of the merger partner Vitesco.
The day before, Schaeffler held its last telephone conference with analysts before the quarterly figures at the beginning of August. The experts probably come out quite skeptical. After a solid first quarter, the current business mix is putting pressure on auto margins, says Christoph Laskawi from Deutsche Bank. And in the industrial segment there is also rather weak demand in the profitable business. Only the spare parts business is at the level of the first quarter.
Marc-René Tonn from Warburg also spoke of the burden caused by the increase in e-mobility. Schaeffler has now strengthened itself in this area with Vitesco.
The merger is expected to be implemented by the fourth quarter of this year. The new company will then operate under the name Schaeffler. According to current and future Schaeffler CEO Klaus Rosenfeld (58), it will employ 120,000 people in 100 plants worldwide and generate annual sales of around 25 billion euros.
Without Vitesco, Schaeffler achieved sales of 16.3 billion euros in 2023. Vitesco emerged from the former drive division of Continental AG in 2019 and was itself listed on the stock exchange in 2021.