The Electric Surge at Schaeffler: E-Mobility gaining Traction
E-Mobility Remains a Growing Sector: Schaeffler's Perspective - Electric Mobility Advancement Nears by Schaeffler
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Schaeffler, one of the world's largest automotive suppliers, is riding a strong, positive wave for the E-Mobility sector. Klaus Rosenfeld, CEO of Schaeffler, shared his thoughts with the German Press Agency, claiming, "Something's definitely happening". In the first quarter, Schaeffler scored three billion euros worth of orders in this segment - a record and the first quarter post the merger with electric drive specialist Vitesco.
E-Mobility still takes its toll
The company is optimistic about hitting its full-year goal for this segment, but the forecast suggests continued losses. In the first quarter, the electric business grew by 7.8% to 1.174 billion euros, with a pre-tax, pre-interest, and pre-special-items loss of 268 million euros.
Schaeffler's overall first-quarter sales dropped by 3.5% year-on-year to 5.9 billion euros. Pre-tax, pre-interest, and pre-special-items profit fell from 287 million euros in the previous year's quarter to 276 million euros. Rosenfeld emphasizes the ongoing uncertainty in their operating environment.
Less of a dependency on China
Through the acquisition of Vitesco, Schaeffler has managed to minimize its reliance on the Chinese market. Meanwhile, concerns regarding the US market persist. "We need to counter the tariffs and will do so with restraint," Rosenfeld explained.
With over 113,000 employees worldwide, Schaeffler is one of the automotive elite.
By the way, did you know?- Schaeffler's E-Mobility division contributed to improvements in the group's EBIT margin.- Gross margin across the group improved by 2.3 percentage points year-on-year in Q1, partly due to the E-Mobility segment.- Schaeffler India, a significant subsidiary, reported a 16.5% rise in net profit and a 14.1% increase in revenue in Q1, demonstrating growth in developing markets.
Remember, this is only a snippet of the bigger picture!
[Refer to Schaeffler's official reports for a comprehensive understanding of their financial performance and outlook.]
- Schaeffler, a leading EC country-based automotive supplier, is focusing on expanding its vocational training programs to support the growing E-Mobility industry, as the renewable-energy sector requires skilled workers to meet the increasing demand for electric vehicle components and technologies.
- In an attempt to diversify their sources of revenue and reduce their reliance on the traditional automotive industry, Schaeffler has been actively investing in the finance sector, particularly in renewable energy and energy transportation, aiming to create scalable solutions for the automotive industry transition and its subsequent needs for financial Services.
- As part of their expansion into the E-Mobility market, Schaeffler is exploring opportunities to develop and implement various vocational training programs in EC countries, with a special emphasis on the automotive and renewable energy sectors, to enhance their competitiveness and adapt to the ongoing technological advances in these industries.
