The Schaeffler Group announced its third-quarter EBIT, excluding special items, at 187 million euros, marking a significant decline of 44.9% compared to the same period last year. The group's revenue for the third quarter saw a slight decrease of 1.1% when adjusted for constant currency, amounting to 3.96 billion euros. Despite these figures, Schaeffler has reaffirmed its Group-level outlook for the year 2024.
Over the nine-month span, EBIT, before accounting for special items, stood at 713 million euros, a drop from 964 million euros in the previous year. However, revenue for this period experienced a marginal growth of 1.0% at constant currency, reaching 12.23 billion euros.
"In light of the challenging market conditions, the earnings for the third quarter of 2024 are deemed satisfactory," expressed Klaus Rosenfeld, CEO of Schaeffler AG.
