Schaeffler Publishes 2017 Interim Financial Report - Tire Review Magazine

Schaeffler Publishes 2017 Interim Financial Report

Schaeffler has published its 2017 interim financial report and announced the company grew its revenue by 3.8% or by 7 billion Euros (approximately $8.2 billion). The Automotive division increased its revenue by 4.2% at constant currency in the first half of 2017.

Schaeffler has published its 2017 interim financial report and announced the company grew its revenue by 3.8% or by 7 billion Euros (approximately $8.2 billion).

The Automotive division increased its revenue by 4.2% at constant currency in the first half of 2017, once again outpacing global production of passenger cars and light commercial vehicles, which rose by 2.6% during the reporting period. The increase was largely driven by the Greater China region, which experienced a growth rate of more than 20%. As a result of slower growth in global automobile production and temporary supply chain shortages in the Aftermarket business, the second quarter was less dynamic than the first.

For 2017, the Schaeffler Group anticipates revenue growth of 4 to 5% at constant currency, an EBIT margin of 11 to 12% before special items, and free cash flow of approximately EUR 500 million ($586 million) before external growth.

You May Also Like

Yokohama Rubber commits to SBTi validation for sustainable targets

This commitment letter pledges to set and submit targets that are aligned with the SBTi’s target-setting criteria within two years.

Yokohama-greenhouse-gasses-stock-

The Yokohama Rubber Co. submitted a commitment letter to the Science Based Targets Initiative (SBTi), the first step in gaining validation of science-based targets (SBTs) for greenhouse gas emission reductions that are scientifically consistent with standards established by the Paris Agreement.

This commitment letter pledges to set and submit targets that are aligned with the SBTi’s target-setting criteria within two years, Yokohama said. Companies are asked to set SBTs that target reducing emissions related to all of a company’s business activities, including direct emissions from their own operations as well as indirect emissions caused by other companies and customers.

Michelin sees steady sales volume in 2023 YOY, increases NA market sales

The company said sales for the year amounted to approx. $30.6 billion, down a slight 0.9% from 2022.

Michelin-Magog
Double Coin to participate in this year’s TMC trade show

Double Coin will showcase its EPA Smartway-verified truck tires including the FR610 steer, FD405 drive and the FT115 trailer position tires.

Double-Coin_TMC-1400
SRNA promotes director of product planning for Falken PLT tires

With more than two decades of experience in the tire industry, TJ Johnson is now coming up on eight years with SRNA.

Tsuyoshi-Johnson-SRNA
Ascenso Tires North America finds new president

Thomas Clark brings with him a three-decade-long career, marked by progressive responsibilities at companies such as Michelin and Carlstar Group.

Ascenso-Thomas-Clark

Other Posts

Turbo Wholesale Tires partners with LA Rams’s Kyren Williams

The All-Pro NFL running back will appear in promotional print and social media campaigns for Turbo Wholesale Tires.

turboCombo
VIP Tires & Service donates $275,000 to Make-A-Wish in 2023

Last year’s donation brings VIP’s total contribution to Make-A-Wish in recent years to over $1.275 million.

MAW-VIP-Tires-1400
Wes Samperio named Dunlop Motorcycle Tires’ product planning manager

Samperio has held several positions throughout his eleven years with SRNA, from warehouse operations to customer service to sales.

wes-samperio-dunlop-motorcycle-tires
SRNA names national sales manager (West) for commercial truck tires

Sam Williams has been with SRNA since 2016, most recently working as a senior strategic account manager.

Sam-Williams-SRNA-1400