Schaeffler Needs to Adjust 2018 Full-Year Guidance

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Schaeffler AG, Herzogenaurach (ISIN DE000SHA0159, WKN SHA015) has decided to adjust its full year 2018 guidance for the Schaeffler Group as a whole and for its Automotive OEM and Automotive Aftermarket divisions.

Against the background of increasing market volatility in the global automotive business (WLTP, trade conflicts), the adjustment of the full year 2018 Group guidance is mainly triggered by a further deterioration of market conditions in the company’s Automotive OEM business in China. Furthermore, weaker-than-expected third-quarter sales performance in its Automotive Aftermarket division contributed to the guidance change. Based on preliminary figures, the Schaeffler Group generated revenues of EUR 3,521 million (prior year: EUR 3,434 million) and... ... More: Official Press Release Schaeffler

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Schaeffler, full-year guidance, guidance, adjustment, down, market, Automotive, China, weaker