(RTTNews) – Schaeffler AG (SCFLF.OB), a German producer of rolling aspect bearings, reported Wednesday a internet loss in fiscal 2024, in comparison with prior yr’s revenue, regardless of elevated revenues.
Additional, the corporate stated its Board of Managing Administrators and the Supervisory Board will suggest a dividend of 0.25 euros per frequent share for 2024 to the annual normal assembly in April, in comparison with prior yr’s 0.45 euros per frequent non-voting share and 0.44 euros per frequent share.
Trying forward, for fiscal 2025, Schaeffler Group anticipates 23 billion euros to 25 billion euros in income, and adjusted EBIT margin of three to five p.c.
Together with group-level earnings, Schaeffler will current earnings for the 4 divisions, E-Mobility, Powertrain & Chassis, Car Lifetime Options, and Bearings & Industrial Options, and Others beginning January 1, 2025.
For the yr 2024, internet loss was 632 million euros, in comparison with prior yr’s internet revenue of 309 million euros. Loss per share was 0.86 euros, in comparison with prior yr’s revenue of 0.46 euros.
The most recent end result was adversely affected by 725 million euros in particular gadgets partly ensuing from restructuring prices.
Adjusted internet revenue amounted to 93 million euros, in comparison with prior yr’s internet revenue of 623 million euros.
Adjusted EBIT was 811 million euros, down 31.6 p.c from final yr’s 1.19 billion euros. Adjusted EBIT margin at 4.5 p.c was decrease than prior yr’s 7.3 p.c.
Income for the reporting interval was 18.19 billion euros, up 11.5 p.c from 16.31 billion euros a yr in the past. Fixed-currency income progress amounted to 12.9 p.c, attributable to the income contributed by the acquired Vitesco Applied sciences Group AG.
Schaeffler Group consolidated Vitesco within the fourth quarter.
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