Schaeffler reports revenue of 13.9 billion Euro, up by 9.7 percent in 2021

Global automotive and industrial supplier Schaeffler presented its results for 2021 today. The Schaeffler Group’s revenue for the reporting period amounted to approximately 13.9 billion euros (prior year: approximately 12.6 billion euros). At constant currency, revenue was up 9.7 percent.

Earnings before financial result, income (loss) from equity-method investees, and income taxes (EBIT) were impacted by 1 million euros in special items (prior year: 946 million euros) and amounted to 1,266 million euros following 798 million euros in the prior year, an increase of approximately 59 percent. The Schaeffler Group generated an EBIT margin before special items of 9.1 percent in 2021 (prior year: 6.3 percent), mainly driven by a further improvement in earnings at the Industrial division and during the first half of the year at Automotive Technologies.

Net income attributable to shareholders of the parent company for the reporting period amounted to 756 million euros following a net loss of 428 million euros in the prior year. Earnings per common non-voting share were 1.14 euros (prior year: -0.64 euros).

Before special items, net income attributable to shareholders of the parent company was 748 million euros (prior year: 321 million euros). On that basis, Schaeffler AG’s Board of Managing Directors will propose a dividend of 50 cents per common non-voting share (prior year: 25 cents) to the annual general meeting. This represents a dividend payout ratio of approximately 44 percent (prior year: approximately 50 percent) of net income before special items attributable to shareholders and twice the proposed dividend per share of the prior year.

The Board of Managing Directors of Schaeffler AG has suspended the full-year guidance for 2022 for the Schaeffler Group and its divisions published on March 8, 2022, due to the developments in Ukraine and the resulting implications for the global economy.

Klaus Rosenfeld, CEO of Schaeffler AG, stated: “Despite the challenging environment, 2021 was a successful year for the Schaeffler Group, as we increased the group’s revenue by about 10 percent at constant currency and our EBIT before special items by about 60 percent. Due to the dramatic developments concerning Ukraine and the resulting growing uncertainties and disruptions, we have concluded to suspend our guidance decided internal by the Board of Managing Directors on February 22, 2022, before the invasion. Our diversified positioning with three divisions and four regions, the quality of our operating business, and our solid finances will help us weather the current crisis as well. The strategic initiatives and priorities defined in our Roadmap 2025 continue to remain unchanged. This applies, above all, to the issue of sustainability.”