The margin before special effects is expected to be 4.5 percent in 2024 after 7.3 percent a year earlier, the SDax-listed company announced on Tuesday based on preliminary figures. The forecast was 5 to 8 percent. The market consensus was 6.3 percent.
The weak earnings development of the Bearings & Industrial Solutions division and Vitesco Technologies had a particularly negative impact in the fourth quarter. Schaeffler and the Regensburg drive specialist Vitesco merged on October 1st.
At the beginning of November, Schaeffler announced that it would cut 4,700 jobs across Europe due to weak business with industrial customers and in the electric car sector.
Sales revenue would have increased to 18.2 billion euros from 16.3 billion euros in 2024. The market consensus was 18.5 billion euros. The main driver of the increase in sales was the full consolidation of Vitesco Technologies from the fourth quarter.
Schaeffler plans to publish the final results of the past financial year and the forecast for 2025 at the annual press conference on March 5th.