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    DGAP-Adhoc  348  0 Kommentare Schaeffler AG reduces its earnings guidance for 2017





    DGAP-Ad-hoc: Schaeffler AG / Key word(s): Change in Forecast


    Schaeffler AG reduces its earnings guidance for 2017


    26-Jun-2017 / 22:00 CET/CEST


    Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.


    The issuer is solely responsible for the content of this announcement.



    Schaeffler AG reduces its earnings guidance for 2017

    Herzogenaurach, June 26, 2017. The Board of Managing Directors of Schaeffler AG has decided today to reduce its guidance for the EBIT margin before special items from hitherto 12-13 percent to 11-12 percent for the business year 2017. This is due to a substantially lower earnings development in the second quarter 2017 compared to the previous year. At the same time, guidance for Free Cash Flow has been reduced from approximately 600 million EUR to approximately 500 million EUR for 2017.

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    While results in the Industrial business are developing in line with expectations, the lower EBIT development of the Schaeffler Group in the second quarter 2017 is primarily due to the following reasons:



    1. Increased pricing pressure in the Automotive OEM business and rising cost for new product launches



    2. Higher R&D cost and other expenses due to additional projects in the area of e-mobility



    3. Temporary supply chain shortages in the Automotive Aftermarket business



    The Schaeffler Group confirms its revenue guidance for the full year. The company continues to expect its revenue to grow by 4-5 percent excluding the impact of currency translation for the business year 2017.



    The Schaeffler Group plans to pre-release preliminary results for the first half of 2017 by mid July. From today's point of view, the company expects revenue growth excluding the impact of currency translation of approximately 4 percent and an EBIT margin before special items of approximately 11 percent in the first six months 2017.


    Christoph Beumelburg

    Senior Vice President Communication, Marketing, and Investor Relations

     










    26-Jun-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
    Archive at www.dgap.de





























    Language: English
    Company: Schaeffler AG
    Industriestr. 1-3
    91074 Herzogenaurach
    Germany
    Phone: 09132 - 82 0
    E-mail: ir@schaeffler.com
    Internet: www.schaeffler.com
    ISIN: DE000SHA0159
    WKN: SHA015
    Indices: MDAX
    Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Luxemburg





     
    End of Announcement DGAP News Service




    586549  26-Jun-2017 CET/CEST










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    DGAP-Adhoc Schaeffler AG reduces its earnings guidance for 2017 DGAP-Ad-hoc: Schaeffler AG / Key word(s): Change in Forecast Schaeffler AG reduces its earnings guidance for 2017 26-Jun-2017 / 22:00 CET/CEST Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group …

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