Schaeffler AG publishes new full-year Guidance for 2022

HERZOGENAURACH | 9 May 2022 | The Board of Managing Directors of Schaeffler AG (ISIN DE000SHA0159, WKN SHA015) today agreed on a new full-year guidance for 2022 based on the most current information on business performance. On 8 March 2022, the Board of Managing Directors of Schaeffler AG had suspended the full-year guidance 2022 adopted on 22 February 2022, when the annual financial statements were prepared, due to the developments in Ukraine in the days following the approval of the annual financial statements.

The Schaeffler Group expects its full-year revenue to grow by 6 to 8 percent at constant currency in 2022. In addition, the Schaeffler Group expects to generate a full-year EBIT margin (before special items) of 5 to 7 percent in 2022. The Schaeffler Group also anticipates more than 250 million euros in free cash flow before cash in- and outflows for M&A activities for 2022 but below previous year.
 

¹⁾ at constant currency; ²⁾ before special items; ³⁾ before cash in- and outflows for M&A activities

The key figures for the three divisions are as follows:

¹⁾ at constant currency; ²⁾ before special items; ³⁾ LVP growth: global growth in production of passenger cars and light commercial vehicles

Current market assumptions for 2022

- Automotive Technologies: Light vehicle production (LVP growth) at prior year level (previous year 77.2 million vehicles)

- Automotive Aftermarket: Increase of global GDP by 3 to 3.5%

- Industrial: Increase in relevant industrial production of 3.5 to 4%

The new guidance is based on the assumption that the growth of the global economy as a whole will slow down noticeably and that this will have an impact on Schaeffler Group’s sales and procurement markets. The economic sanctions imposed against the backdrop of the war in the Ukraine, the impact on supply chains, commodities and energy prices, as well as transportation costs have been taken into account to the existing extent until year end. Influences of the coronavirus pandemic, which has not yet been overcome, on the Group’s value chain have been taken into account at the current level. With regard to China, economic activity is assumed to normalize by the end of June 2022.

The interim statement of Schaeffler AG for the first three months 2022 will be published as planned on 10 May 2022.

„Constant-currency revenue growth“, „EBIT margin (before special items)“ and „free cash flow before cash in- and outflows for M&A activities” have the meaning ascribed to them in the annual report 2021 on pages 15f and 33f, which may be retrieved under www.schaeffler.com.