Schaeffler AG: Schaeffler announces Mid-term Targets

2020-11-17 | Herzogenaurach

Schaeffler AG’s (ISIN DE000SHA0159, WKN SHA015) Board of Managing Directors today agreed the following Mid-term Targets up to 2025. The Mid-term Targets are based on a Financial Framework which provides targets for the Schaeffler Group as well as for its three Divisions.

The Mid-term Targets for the three Divisions are as follows:

Table three divisions

The targets for the FX-adjusted sales growth apply on average for the period 2021-2025. The lower end of the respective target ranges for the EBIT margin before special items should be reached in 2023 at the latest. The values regularly published by IHS Markit form the basis for the growth of the Light Vehicle Production. The growth of the global GDP and the growth of the worldwide Industrial Production is determined using data from Oxford Economics.

For the Schaeffler Group the following Mid-term Targets apply until 2025:

Table Schaeffler Group

The lower end of the respective target ranges should be reached in 2023 at the latest.

Furthermore, the Board of Managing Directors of Schaeffler AG has set the following parameters for its capital structure and its dividend policy. The debt leverage of the Schaeffler Group defined as net debt divided by EBITDA before special items shall be 1.2x to 1.7x in the years 2021-2025. The dividend policy remains unchanged. As before, the aim is to distribute 30% – 50% of net income before special items after taxes to the shareholders.

“EBIT”, „EBIT margin (before special items)“, “EBITDA (before special items), „free cash flow before cash in- and outflows for M&A activities“, “average capital employed” and “net income before special items” have the meaning ascribed to them in the annual report 2019 on pages 14f and 30, which may be retrieved under www.schaeffler.com.

The Schaeffler Group will host a Capital Markets Day to provide more insights to its Roadmap 2025 and Mid-Term Targets. The virtual CMD will take place on Wednesday, November 18th, 2020 from 13:00 to 15:30 CET, and is open for Equity and Bond Institutional Investors, Financial Analysts and Rating Agencies representatives. The registration details for the audio webcast is published on the investor relations section of Schaeffler’s website: www.schaeffler.com/ir

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