BERLIN (dpa-AFX) - Schaeffler AG (SCFLF.OB), a German maker of industrial rolling element bearings, reported that its preliminary sales for fiscal year 2024 increased to 18.2 billion euros from 16.3 billion euros in 2023. Sales growth was mainly driven by the full consolidation of Vitesco Technologies from fourth quarter of 2024 onwards.
EBIT margin before special items for the full year 2024 is anticipated to amount to 4.5% compared to 7.3% reported last year, mainly burdened by weak fourth quarter developments in the Bearings & Industrial Solutions Division and at Vitesco Technologies.
The company said it will release final results for the past fiscal year 2024 and guidance for the current fiscal year 2025 on 5 March 2025.
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