Q2 2024 Schaeffler AG Earnings Call Transcript
Key Points
- Q2 sales increased by 4.2%, driven by strong performance in E-Mobility and Vehicle Lifetime Solutions.
- Vehicle Lifetime Solutions achieved a significant margin improvement for the third consecutive quarter.
- Free cash flow was positive at EUR75 million, despite one-off integration and financing costs.
- E-Mobility segment saw double-digit growth, particularly in Europe and America.
- New order intake of EUR3.6 billion, with EUR2.1 billion from E-Mobility, indicating strong future growth potential.
- EBIT margin decreased to 4.9%, impacted by issues in Bearings & Industrial Solutions.
- Free cash flow decreased from EUR103 million in Q2 2023 to EUR75 million in Q2 2024.
- Bearings & Industrial Solutions experienced a 3.6% decline in sales, particularly in Europe and China.
- Operational one-offs, including inventory valuation and warranty claims, negatively impacted gross profit by EUR55 million.
- Higher R&D costs for E-Mobility and Chassis projects affected margins, with ongoing cost pressures expected.
Ladies and gentlemen, I'm very happy to welcome you to our today's call on the financial results of the second-quarter 2024. The press release, the following presentation and our half year report have been published today at 8:00 AM CET on our homepage. And since I'm sure that you have all taken notice of our well-known disclaimer, I would directly go ahead and welcome our CEO, Klaus Rosenfeld; our CFO, Claus Bauer, and both will guide you through today's presentation. And for sure, afterwards, you will have the opportunity to ask questions.
And now, without further ado, let me hand over to our CEO.
Heiko, thank you very much for kind words of introduction. It's a pleasure to do this earnings call together with you for the first time, and welcome to all of you. Exciting times, as you all notice. We will guide you today through the Schaeffler AG results. I say this upfront, there was an announcement of our sister company yesterday, but
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
