Revenue 2019 at prior year level, with strong cash flow
Global automotive and industrial supplier Schaeffler presented its results for 2019 on March 10th. Revenue 2019 is at prior year level despite demanding environment.
Schaeffler Group and divisions meet adjusted guidance, while free cash flow increased considerably. Guidance for 2020 reflects conservative market assessment.
Klaus Rosenfeld, CEO of Schaeffler AG, commented on the performance of the business in 2019: “In a challenging environment, we were able to meet our guidance for revenue growth as adjusted in July and slightly surpass the EBIT margin target. Even more encouraging is our strong free cash flow of 478 million euros, which was considerably higher than expected. Our earnings for 2019 prove that our positioning as a global automotive and industrial supplier is invaluable…”.