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Schaeffler AG: Schaeffler AGM adopts dividend of 25 eurocents per common non-voting share - Seite 2

The Schaeffler Group first quarter revenue figure of 3,560 million euros was 11.2 percent up on the prior year in constant currency terms (3,281 million euros, adjusted), which represents a significant recovery. The EBIT margin before special items in the first quarter was 11.3 percent, as compared with the prior year adjusted figure of 6.5 percent). First quarter free cash flow before cash in- and out-flows for M&A activities was 130 million euros (prior year, adjusted: 137 million euros). This was largely attributable to the better-than-expected revenue trend in the first quarter, particularly in China. In addition, the net income trend shows ongoing positive impacts from the cost alignment measures initiated in the prior year.

Schaeffler will publish its interim report for the first quarter of 2021 on May 12, 2021 as planned.

Automotive Technologies successes in the e-mobility sector
The company's successes in the e-mobility sector are particularly pleasing. In 2020, Schaeffler's E-Mobility business division recorded an order intake of 2.7 billion euros, well above the budgeted target of 1.5 to 2 billion euros. The number of projects was also 30 percent up on the prior year, a positive trend that has continued into this year. 2021 marks the start of volume production of electric motors for hybrid modules, hybrid transmissions and all-electric axle drives. Schaeffler's electric motor production is based on a modular, highly integrated technology platform. As already communicated, Schaeffler has received a major order for dedicated hybrid transmissions and in 2024 will start supplying entire drive units comprising two electric motors and power electronics integrated in the transmission. Moreover, by expanding its electrification offering to include the commercial vehicles segment, Schaeffler is making another important contribution to the achievement of climate and sustainability targets.

Digital business models in Automotive Aftermarket
Digitalization has become a core competency for the Automotive Aftermarket division. The pandemic has been a catalyst for the division's wide-ranging activities that incorporate digital sales channels and business models, allowing Schaeffler to differentiate itself from its competitors. A good example of this is the highly integrated Aftermarket Cloud, which successfully addresses many different user interests. Demand for the REPXPERT online training courses offered by Schaeffler in more than 30 languages has increased by leaps and bounds. And the number of website contacts more than doubled in the fourth quarter. The Schaeffler Group expects these positive trends to continue in 2021.