The group anticipates that its Automotive Technologies division will grow by 2 to 5 percentage points more than global automobile production of passenger cars and light commercial vehicles. On that basis, the company expects the Automotive Technologies division to generate revenue growth that is considerably positive at constant currency, and to slightly improve its EBIT margin before special items over the prior year by raising it to more than 4.5 percent.

For the Automotive Aftermarket division, the group anticipates constant currency revenue growth of 5 to 7 percent and an EBIT margin before special items slightly lower than in the prior year at more than 11.5 percent in 2021. This expectation reflects higher product expenses, a temporary increase in logistics expenses related to the assembly and packaging center in Halle (Saale) commencing operations, expenses for digitalization, and an adverse impact of currency translation.

Given the range of estimates Oxford Economics and others have made regarding growth in global industrial production, the company expects its Industrial division to generate revenue growth of 4 to 6 percent at constant currency and an EBIT margin before special items in the high single-digits above 8.5 percent in 2021.

Dr. Klaus Patzak, CFO of Schaeffler AG, said: "We are confidently looking ahead to the coming year and anticipate relatively robust growth for our markets. However, the economic environment remains challenging in times of the pandemic, and we do not expect to reach pre-crisis levels until after 2022. Our guidance reflects that." Roadmap 2025 kicked off and execution started On November 18, 2020, the Schaeffler Group presented its Roadmap 2025 at its 2020 Capital Markets Day. The Roadmap 2025 updates Schaeffler's corporate strategy to 2025, sets out a program for its execution, and includes a set of mid-term targets. The Roadmap 2025 shows the way forward. It stands for continuity and expanding the company's strengths, but also for improving and advancing with respect to new technologies and business models as well as costs and efficiency. Meanwhile, the new corporate claim, "We pioneer motion", expresses Schaeffler's commitment to continuing to shape motion and progress by being a diversified automotive and industrial supplier with a global reach. This will require even more effective use of the synergies available within the Schaeffler Group. The company's success will continue to be based on its four proven key differentiators of innovation, superior quality, system understanding, and manufacturing excellence.

"The year 2020 was marked by great uncertainties that still persist today. Once again, our positioning as an automotive and industrial supplier operating worldwide has proven to serve us well in difficult times and has helped us weather the crisis relatively well," stated Klaus Rosenfeld, CEO of Schaeffler AG. "We used the year of crisis to hone our strategy and orient it toward current challenges and opportunities as part of the Roadmap 2025. Our main focus is now on consistently executing the Roadmap 2025."

You can find our annual report at: www.schaeffler-annual-report.com

Here you find our digital press kit: www.schaeffler.com/apc Forward-looking statements and projections Certain statements in this press release are forward-looking statements. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. No one undertakes any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. You should not place any undue reliance on forward-looking statements which speak only as of the date of this press release. Statements contained in this press release regarding past trends or events should not be taken as representation that such trends or events will continue in the future. The cautionary statements set out above should be considered in connection with any subsequent written or oral forward-looking statements that Schaeffler, or persons acting on its behalf, may issue.

Schaeffler Group - We pioneer motion As a leading global supplier to the automotive and industrial sectors, the Schaeffler Group has been driving forward groundbreaking inventions and developments in the fields of motion and mobility for over 70 years. With innovative technologies, products, and services for CO?-efficient drives, electric mobility, Industry 4.0, digitalization, and renewable energies, the company is a reliable partner for making motion and mobility more efficient, intelligent, and sustainable. The technology company manufactures high-precision components and systems for powertrain and chassis applications as well as rolling and plain bearing solutions for a large number of industrial applications. The Schaeffler Group generated sales of approximately EUR 12.6 billion in 2020. With around 83,300 employees, Schaeffler is one of the world's largest family companies. With almost 2,400 patent applications in 2019, Schaeffler is Germany's second most innovative company according to the DPMA (German Patent and Trademark Office). Contacts 


Dr. Axel Lüdeke                         Renata Casaro 
Communications & Public Affairs         Head of Investor Relations 
Schaeffler AG                           Schaeffler AG, Herzogenaurach, Germany 
Herzogenaurach, Germany 
phone: +49 9132 82 8901                 phone: +49 9132 82 4440 
email: axel.luedeke@schaeffler.com      email: ir@schaeffler.com 
Bettina Lichtenberg                     Johann Eisenmann 
Vice President Corporate Communications Investor Relations 
Schaeffler AG                           Schaeffler AG, Herzogenaurach, Germany 
Herzogenaurach, Germany 
phone: +49 9132 82 5000                 phone: +49 9132 82 4440 
email: presse@schaeffler.com            email: ir@schaeffler.com 
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2021-03-04 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de ----------------------------------------------------------------------------------------------------------------------- 


Language:     English 
Company:      Schaeffler AG 
              Industriestr. 1-3 
              91074 Herzogenaurach 
              Germany 
Phone:        09132 - 82 0 
E-mail:       ir@schaeffler.com 
Internet:     www.schaeffler.com 
ISIN:         DE000SHA0159 
WKN:          SHA015 
Indices:      SDAX 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange 
EQS News ID:  1173009 
 
End of News   DGAP News Service 
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1173009 2021-03-04

(END) Dow Jones Newswires

March 04, 2021 02:02 ET (07:02 GMT)