Annonce • Jul 21
Bain Capital, LP agreed to acquire SupplyOn AG from Aumovio SE (XTRA:AMV0), Robert Bosch GmbH, Schaeffler AG (XTRA:SHA0) and ZF Friedrichshafen AG. Bain Capital, LP agreed to acquire SupplyOn AG from Aumovio SE (XTRA:AMV0), Robert Bosch GmbH, Schaeffler AG (XTRA:SHA0) and ZF Friedrichshafen AG on July 20, 2026.
The transaction is subject to customary closing conditions and regulatory approvals. Reported Earnings • May 06
First quarter 2026 earnings released: EPS: €0.06 (vs €0.09 in 1Q 2025) First quarter 2026 results: EPS: €0.06 (down from €0.09 in 1Q 2025). Revenue: €5.76b (down 2.7% from 1Q 2025). Net income: €60.0m (down 28% from 1Q 2025). Profit margin: 1.0% (down from 1.4% in 1Q 2025). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Apr 17
Upcoming dividend of €0.30 per share Eligible shareholders must have bought the stock before 24 April 2026. Payment date: 28 April 2026. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.5%. Lower than top quartile of British dividend payers (5.7%). In line with average of industry peers (3.6%). Annonce • Mar 13
Schaeffler AG, Annual General Meeting, Apr 23, 2026 Schaeffler AG, Annual General Meeting, Apr 23, 2026, at 10:00 W. Europe Standard Time. Annonce • Mar 05
Schaeffler Announces Management Changes The supervisory board of German automotive supplier Schaeffler has appointed Jochen Schröder to its Executive Board, where he will oversee production, supply chain management and procurement. However, further restructuring is expected, as the company plans to merge the department with research and development in the longer term. Jochen Schröder (54) will join the Schaeffler executive board on 1 April 2026. In this role, he will take responsibility for the Production, Supply Chain Management and Procurement divisions, while also serving as Chief Operating Officer (COO). He will succeed Andreas Schick (55), who is leaving the company at his own request on 31 March 2026. Schröder’s influence on the board could expand further in the future. “The Supervisory Board also decided to look at combining the Chief Technology Officer function with the Chief Operating Officer function to reduce the size of the Board of Managing Directors and achieve efficiencies,” the company stated. As an e-mobility specialist, Schröder is a natural fit for this development. Schröder joined Schaeffler in 2018, where he initially took over the leadership of the newly established E-Mobility business division. Since October 2024, he has served as Regional CEO Europe and a member of the Executive Board of Schaeffler AG. Prior to this, he worked as CTO at Valeo-Siemens eAutomotive from 2016 onwards. He began his career at BMW AG in transmission development and held various leadership positions in the electrification of the powertrain until 2016, giving him extensive experience in powertrain development, which also qualifies him for the CTO role at Schaeffler. Schröder’s successor as Regional CEO Europe will be Rémy Triouleyre (48), who previously led the France subregion and simultaneously served as Global Key Account Manager with global customer responsibility for the Stellantis Group. Additionally, the Schaeffler executive board has decided that Xiangbin Chen (44) will assume the role of Regional CEO Greater China from 1 January 2027. He will succeed Yilin Zhang, who is set to retire at the end of 2026. Reported Earnings • Mar 05
Full year 2025 earnings released: €0.45 loss per share (vs €0.86 loss in FY 2024) Full year 2025 results: €0.45 loss per share (improved from €0.86 loss in FY 2024). Revenue: €23.5b (up 29% from FY 2024). Net loss: €424.0m (loss narrowed 33% from FY 2024). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Annonce • Mar 05
Schaeffler AG announces Annual dividend, payable on April 28, 2026 Schaeffler AG announced Annual dividend of EUR 0.3000 per share payable on April 28, 2026, ex-date on April 24, 2026 and record date on April 27, 2026. Buy Or Sell Opportunity • Feb 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 32% to €4.34. The fair value is estimated to be €5.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Feb 03
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 36% to €4.34. The fair value is estimated to be €5.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jan 19
Now 51% undervalued after recent price drop Over the last 90 days, the stock has fallen 28% to €4.34. The fair value is estimated to be €8.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company became loss making. Annonce • Jan 14
Schaeffler AG Announces Appointment of Maximilian Fiedler as Regional Chief Executive Officer Asia/Pacific, Effective January 1, 2026 Schaeffler AG announced the appointment of Maximilian Fiedler, aged 38, as Regional Chief Executive Officer Asia/Pacific, effective January 1, 2026. In this role, he will also be part of the Executive Board of Schaeffler Group, representing the region. Mr. Fiedler has been serving as the Chief Financial Officer Region Asia/Pacific since 2022. In June 2025, Maximilian Fiedler assumed the position as Regional CEO Asia/Pacific on a temporary basis in addition to his role as CFO Asia/Pacific. Mr. Fiedler has been with Schaeffler since 2012 and has held several senior leadership roles, including Head of External Reporting for Schaeffler Group and Chief Financial Officer for Schaeffler Mexico. Before joining Schaeffler, Mr. Fiedler was Treasury Manager for HeidelbergCement AG. Buy Or Sell Opportunity • Jan 02
Now 56% undervalued after recent price drop Over the last 90 days, the stock has fallen 28% to €4.34. The fair value is estimated to be €9.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company became loss making. Annonce • Oct 01
Schaeffler Expands its OPTIME Ecosystem Portfolio: Smart FAG OPTIME C4 Lubricator Now Available Schaeffler Group USA Inc. announced that Rolling bearings depend on optimal lubrication to ensure long-term, reliable operation. In practice, however, manual rel lubrication is still part of the daily routine for many maintenance teams, and errors in this process remain one of the leading causes of bearing failures. This is precisely where Schaeffler, the Motion Technology Company, provides solutions with its lubricators. The latest development in the portfolio, the FAG OPTIME C4, is capable of simultaneously supplying several lubrication points while storing a greater quantity of lubricant. For maintenance teams, this opens up broader application possibilities in servicing their machinery fleet. As a multi-point lubricator, the FAG OPTime C4 features four outlets that can be programmed independently of one another. This allows a single lubricator to supply up to four lubrication points individually. As a result, only one device needs to be purchased, configured, and maintained to cover several points. In addition, both the outlet pressure and the fill volume of the lubricant cartridges are significantly higher. The FAG OPTIME C4 delivers an outlet pressure of 70 bar (1,015 psi), allowing lubricant to be transported over longer distances and reaching lubrication points that cannot be fitted with a lubricator nearby. In combination with Schaeffler's OPTIME app (available in the Apple App Store and on Google Play), the FAG OPTIME C 4 ensures that incorrect lubrication can be safely avoided, whether caused by too much or too little lubricant, the wrong lubricant, contamination, clogged lubricant lines, or empty cartridges. Schaeffler's OPTime Ecosystem comprises a range of solutions for condition monitoring and smart lubrication. In late 2021, the portfolio was expanded with the introduction of the OPTIME C1 lubricator, enabling smart lubrication management for the first time. The new FAG OPTIME C4 now adds an even more flexible and powerful option to the lineup. Solutions within the OPTIME Ecosystem are cost-efficient, wireless, app-controlled, scalable, and suitable for a wide variety of drive systems. The FAG OPTIMEC4 will be available to order starting September 25, 2025, in most countries across Europe, North and South America, and the Asia-Pacific region. Annonce • Aug 16
Schaeffler AG to Report Fiscal Year 2025 Results on Mar 03, 2026 Schaeffler AG announced that they will report fiscal year 2025 results on Mar 03, 2026 Reported Earnings • Aug 08
Second quarter 2025 earnings released Second quarter 2025 results: €0.04 loss per share. Revenue: €5.92b (up 41% from 2Q 2024). Net loss: €40.0m (down 221% from profit in 2Q 2024). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. New Risk • Jul 03
New major risk - Revenue and earnings growth Earnings have declined by 1.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings have declined by 1.4% per year over the past 5 years. Shareholders have been substantially diluted in the past year (42% increase in shares outstanding). Minor Risk Paying a dividend despite being loss-making. Reported Earnings • May 07
First quarter 2025 earnings released First quarter 2025 results: EPS: €0.09. Revenue: €5.92b (up 45% from 1Q 2024). Net income: €83.0m (down 64% from 1Q 2024). Profit margin: 1.4% (down from 5.7% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Auto Components industry in the United Kingdom. Annonce • Apr 26
Schaeffler AG Announces Board Changes Schaeffler AG at its Annual General Meeting held on 24 April 2025, all shareholder representatives in the Supervisory Board were also newly elected. In the course of this election, three new members joined the Supervisory Board for the shareholders’ side: Susanne Heckelsberger, Manfred Eibeck and KR Joachim Hirsch. The election of the three former Vitesco Supervisory Board members complies with the Business Combination Agreement concluded with Vitesco in November 2023 to adjust the composition of the Supervisory Board to reflect the company’s requirements after the merger. At the end of the Annual General Meeting, Hanna Köhler, Susanne Lau, Jürgen Schenk, Helga Schönhoff and Markus Zirkel stepped down from the Supervisory Board. Annonce • Mar 14
Schaeffler AG, Annual General Meeting, Apr 24, 2025 Schaeffler AG, Annual General Meeting, Apr 24, 2025, at 10:00 W. Europe Standard Time. Declared Dividend • Mar 07
Dividend reduced to €0.25 Dividend of €0.25 is 44% lower than last year. Ex-date: 25th April 2025 Payment date: 29th April 2025 Dividend yield will be 5.8%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (55% cash payout ratio). The dividend has decreased over the past 96 years, indicating a lack of growth and stability in payments. Annonce • Mar 06
Schaeffler AG announces Annual dividend, payable on April 29, 2025 Schaeffler AG announced Annual dividend of EUR 0.2500 per share payable on April 29, 2025, ex-date on April 25, 2025 and record date on April 28, 2025. Reported Earnings • Mar 06
Full year 2024 earnings released: €0.86 loss per share (vs €0.47 profit in FY 2023) Full year 2024 results: €0.86 loss per share (down from €0.47 profit in FY 2023). Revenue: €18.2b (up 12% from FY 2023). Net loss: €632.0m (down 304% from profit in FY 2023). Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Feb 24
Now 25% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.1% to €4.34. The fair value is estimated to be €5.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has declined by 45%. Revenue is forecast to grow by 63% in 2 years. Earnings are forecast to grow by 509% in the next 2 years. New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 42% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 295% Cash payout ratio: 128% Shareholders have been substantially diluted in the past year (42% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (0.9% net profit margin). New Risk • Nov 15
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 469% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 295% Cash payout ratio: 128% Shareholders have been substantially diluted in the past year (469% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (0.9% net profit margin). Buy Or Sell Opportunity • Oct 18
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at €4.81. The fair value is estimated to be €6.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 64% in 2 years. Earnings are forecast to grow by 150% in the next 2 years. Annonce • Oct 10
Schaeffler AG to Report Fiscal Year 2024 Results on Mar 05, 2025 Schaeffler AG announced that they will report fiscal year 2024 results on Mar 05, 2025 New Risk • Oct 07
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 67% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Shares are highly illiquid. Shareholders have been substantially diluted in the past year (67% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (1.9% net profit margin). New Risk • Oct 04
New major risk - Share price stability The company's shares are highly illiquid. Its shares have only traded on 2 days in the past 3 months. This is considered a major risk. A lack of liquidity can be a big problem for shareholders. If there are not enough willing buyers of the stock, selling down a large shareholding may take a long time or it can crush the share price, potentially exposing shareholders to losses or reduced profits. It also means the share price may not be reflective of the true value of the company because there is infrequent price discovery. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Shares are highly illiquid. Minor Risk Profit margins are more than 30% lower than last year (1.9% net profit margin). Annonce • Oct 02
Schaeffler AG (XTRA:SHA) completed the acquisition of additional 11.18649% stake in Vitesco Technologies Group Aktiengesellschaft (XTRA:VTSC). Schaeffler AG (XTRA:SHA) reached preliminarily agreement to acquire additional 11.18649% stake in Vitesco Technologies Group Aktiengesellschaft (XTRA:VTSC) for approximately €320 million on February 26, 2024. Vitesco Technologies has preliminarily agreed with Schaeffler on an exchange ratio between Vitesco Technologies shares and Schaeffler shares of 11.4 Schaeffler shares for 1 Vitesco Technologies share in the context of the intended merger with Vitesco Technologies as the transferring entity into Schaeffler as the acquiring entity. IHO, the management holding of the Schaeffler family, continues to hold approximately 49.94% the shares in Vitesco. Together with the IHO Holding, Schaeffler now holds approximately 88.81% of the share capital and voting rights in Vitesco. This agreement is subject to the condition that the joint valuation expert appointed by both parties and the court-appointed merger auditor confirm the exchange ratio as appropriate. In addition, the agreement is also subject to the approval of the supervisory boards of Vitesco Technologies and Schaeffler. The effectiveness of the merger agreement is subject to the approval of the respective Annual General Meetings of both companies, which are scheduled for April 24, 2024 (Vitesco Technologies) and April 25, 2024 (Schaeffler), as well as the subsequent registration in the respective commercial registers. The completion of the transaction continues to be expected in the fourth quarter of 2024. As of March 13, 2024. Schaeffler and Vitesco Technologies entered into a merger agreement, following the approval of their respective Supervisory Boards. Lazard & Co. GmbH acted as financial advisor to Vitesco Technologies. BofA Securities, Inc. acted as financial advisor to Schaeffler AG. As on April 25, 2024, The Annual General Meeting of Schaeffler AG approved the merger of Vitesco Technologies. After Vitesco shareholders at their Annual General Meeting had already voted in favour of the merger agreement the day before, the Annual General Meeting of Schaeffler has also given the green light for the merger. Today’s Annual General Meeting also approved all other resolutions proposed by the management.
Schaeffler AG (XTRA:SHA) completed the acquisition of additional 11.18649% stake in Vitesco Technologies Group Aktiengesellschaft (XTRA:VTSC) on October 1, 2024. Listing of and trading in the new Schaeffler shares with full voting rights will commence on October 2, 2024. J.P. Morgan Securities plc acted as financial advisor and fairness opinion provider to Vitesco Technologies Group Aktiengesellschaft. Annonce • Sep 28
Schaeffler AG Announces Chief Financial Officer Changes Schaeffler AG announced that it has appointed Christophe Hannequin as chief financial officer, effective October 1, 2025. He will succeed Claus Bauer, who will fulfill his contract until the end of its term on August 31, 2025. Hannequin has been the group chief financial officer at the JCB Group in Britain, since 2022. Earlier, he held various management positions primarily in the field of finance at Michelin in the US, Canada, and France. Buy Or Sell Opportunity • Aug 07
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 27% to €4.66. The fair value is estimated to be €5.96, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.8% over the last 3 years. Earnings per share has declined by 19%. Revenue is forecast to grow by 42% in 2 years. Earnings are forecast to grow by 185% in the next 2 years. Reported Earnings • Aug 07
Second quarter 2024 earnings released: EPS: €0.04 (vs €0.21 in 2Q 2023) Second quarter 2024 results: EPS: €0.04 (down from €0.21 in 2Q 2023). Revenue: €4.19b (up 3.3% from 2Q 2023). Net income: €33.0m (down 76% from 2Q 2023). Profit margin: 0.8% (down from 3.4% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 14% per year. Buy Or Sell Opportunity • Jul 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to €5.12. The fair value is estimated to be €6.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 40% in 2 years. Earnings are forecast to grow by 106% in the next 2 years. Buy Or Sell Opportunity • Jun 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to €5.66. The fair value is estimated to be €7.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 38% in 2 years. Earnings are forecast to grow by 121% in the next 2 years. Buy Or Sell Opportunity • May 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.1% to €6.17. The fair value is estimated to be €7.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 41% in 2 years. Earnings are forecast to grow by 116% in the next 2 years. Reported Earnings • May 07
First quarter 2024 earnings released First quarter 2024 results: EPS: €0.35. Revenue: €4.09b (down 1.6% from 1Q 2023). Net income: €231.0m (up 79% from 1Q 2023). Profit margin: 5.7% (up from 3.1% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Apr 30
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.4% to €5.51. The fair value is estimated to be €6.94, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.4% per annum. Earnings are also forecast to grow by 34% per annum over the same time period. Upcoming Dividend • Apr 19
Upcoming dividend of €0.45 per share Eligible shareholders must have bought the stock before 26 April 2024. Payment date: 30 April 2024. Payout ratio is on the higher end at 97%, however this is supported by cash flows. Trailing yield: 7.2%. Within top quartile of British dividend payers (5.9%). Higher than average of industry peers (3.4%). Reported Earnings • Mar 05
Full year 2023 earnings released: EPS: €0.46 (vs €0.84 in FY 2022) Full year 2023 results: EPS: €0.46 (down from €0.84 in FY 2022). Revenue: €16.3b (up 3.2% from FY 2022). Net income: €310.0m (down 44% from FY 2022). Profit margin: 1.9% (down from 3.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Declared Dividend • Feb 12
Dividend of €0.45 announced Shareholders will receive a dividend of €0.45. Ex-date: 26th April 2024 Payment date: 30th April 2024 Dividend yield will be 7.3%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (63% cash payout ratio). The dividend has increased by an average of 3.2% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 3.6% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Annonce • Jan 24
Schaeffler AG (XTRA:SHA) entered into an agreement to acquire additional 9% stake in Vitesco Technologies Group Aktiengesellschaft (XTRA:VTSC) from BofA Securities Europe SA. Schaeffler AG (XTRA:SHA) entered into an agreement to acquire additional 9% stake in Vitesco Technologies Group Aktiengesellschaft (XTRA:VTSC) from BofA Securities Europe SA on January 23, 2024. As part of acquisition, Schaeffler will acquire 3.6 million shares. After completion of acquisition, Schaeffler holding in Vitesco Technologies will increases to approximately 38.87%. Annonce • Nov 20
Schaeffler AG Appoints Astrid Fontaine as Chief Human Resources Officer The Supervisory Board of Schaeffler AG has appointed Dr. Astrid Fontaine as Chief Human Resources Officer and as a full member of the Board of Managing Directors of Schaeffler AG, effective January 1, 2024. Dr. Fontaine has extensive and long-term international experience in the HR departments of well-known major automobile manufacturers. Dr. Astrid Fontaine is coming to Schaeffler from the Volkswagen Group, where she was most recently responsible for “People & Transformation” on the Board of Management at Volkswagen Commercial Vehicles since September 2021. Before that, she was Head of “People, Digitalization and IT” at Bentley Motors in the UK from January 2018 to August 2021, also at Board level. Other activities in HR between 1994 and 2017 included positions at Porsche Cars North America and at DaimlerChrysler and Mercedes-Benz AG in Germany and the US. Dr. Fontaine, who has both German and US citizenship, holds multiple Supervisory Board mandates within the Volkswagen Group. She has a degree in business administration and mechanical engineering and was awarded a doctorate in the field of “Information Systems” after completing a PhD program in the US. She has been a member of the Expert Group on the Transformation of the Automotive Industry at the German Federal Ministry of Economics since 2022. Reported Earnings • Nov 09
Third quarter 2023 earnings released Third quarter 2023 results: EPS: €0.22. Revenue: €4.06b (down 4.2% from 3Q 2022). Net income: €150.0m (down 11% from 3Q 2022). Profit margin: 3.7% (down from 4.0% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Auto Components industry in the United Kingdom. Annonce • Oct 27
Schaeffler AG (XTRA:SHA) acquired Aerosint from Desktop Metal, Inc. (NYSE:DM). Schaeffler AG (XTRA:SHA) acquired Aerosint from Desktop Metal, Inc. (NYSE:DM) on October 26, 2023. The startup will be renamed Schaeffler Aerosint SA and integrated into the Schaeffler Group as an additional location for Schaeffler Special Machinery, the Schaeffler Groups special machine construction unit. Desktop Metal will continue to work with Schaeffler on developing the technology for binder jet 3D printing, where Desktop Metal retains an option for commercial use.Schaeffler AG (XTRA:SHA) completed the acquisition of Aerosint from Desktop Metal, Inc. (NYSE:DM) on October 26, 2023. Annonce • Oct 11
Schaeffler AG (XTRA:SHA) made a bid to acquire 50.1% stake in Vitesco Technologies Group Aktiengesellschaft (XTRA:VTSC) for €1.8 billion. Schaeffler AG (XTRA:SHA) made a bid to acquire 50.1% stake in Vitesco Technologies Group Aktiengesellschaft (XTRA:VTSC) for €1.8 billion on October 9, 2023. Vitesco shareholders are offered a cash consideration in the amount of €91 per share. The tender offer will not be subject to a minimum acceptance threshold but to other customary conditions, including the receipt of potentially applicable foreign direct investment approval. The transaction should be wrapped up in the fourth quarter of 2024, subject to shareholder approval. IHO Holding does not tender because they have entered into a non-tender agreement. So the offer is for the remaining outstanding shares approximately 20 million shares. Schaeffler has arranged a comprehensive financing package including an acquisition bridge facility to finance the tender offer. The financing package is fully underwritten by Bank of America, BNP Paribas and Citigroup, which act as financial advisors to Schaeffler. The acceptance period is expected to last until mid-December 2023. Schaeffler expects the tender offer to be closed in January 2024. The completion of the overall transaction is expected to take place in the fourth quarter of 2024. Annonce • Aug 19
Schaeffler AG Develops Next-Generation Bipolar Plates for Fuel Cell Drives Schaeffler AG is demonstrating its development capabilities in the field of hydrogen-powered mobility with a new generation of metallic bipolar plates for PEM fuel cells. All fuel cell systems rely on bipolar plates. But the plates developed by Schaeffler feature a new design optimized for large-series production and leverage an innovative coating process for long fuel cell life. Moreover, stacks made using the new Schaeffler plates achieve a power density about 20% greater than that of stacks made using previous-generation plates. At a purpose-built pilot production facility in Herzogenaurach, the company is now manufacturing the new plates in runs of up to several tens of thousands of units for use by international vehicle manufacturers in prototype and small-series production. Schaeffler is due to start production of bipolar plates under the name of Innoplate, a joint venture with Symbio, in Haguenau, France, at the start of 2024. To the untrained eye, bipolar plates aren't much to look at, being only about the size of a DIN A4 envelope and weighing just 60 grams. But they are core components of fuel cells, where they perform a number of vital functions, including providing channels both for the separation and distribution of the process gasses and coolant and for the removal of the water resulting from the chemical reaction. For vehicle applications, several hundred of these plates are layered on top of one another, each separated by a membrane electrode assembly (MEA), to form a stack. The plates account for up to 80% of the stack’s weight, and up to 65% of its volume. Stacks comprising up to 400 of these cell units have a total power output of up to 140 kW – enough for light commercial vehicles. Heavy commercial vehicles up to 40 tons generally require two stacks. Schaeffler’s new generation of bipolar plates is also designed from the ground up for industrialization at large scale – an approach known as design for manufacturing (DFM). The aim is to achieve a level of cost-effectiveness and scalability of manufacturing sufficient for hydrogen-powered mobility to reach market breakthrough. In terms of production, the company is leveraging its many years of experience and expertise in metal stamping and forming, and has achieved the high level of precision needed to stamp the necessary ultrafine structures on the surface of the plates, which have a thickness of only 50 to 100 micrometers. Another unique feature of the metallic bipolar plates made by Schaeffler is the coating system used. The purpose of coatings is to maintain a high level of electrical conductivity over the fuel cell’s entire service life. Schaeffler’s solution is “Enertect” – a family of high-performance coating systems developed specifically for bipolar plates. Depending on the customer’s requirements, the coatings can be engineered for maximum plate service life, minimum carbon footprint, or an optimized price-performance ratio. Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: €0.21 (vs €0.17 in 2Q 2022) Second quarter 2023 results: EPS: €0.21 (up from €0.17 in 2Q 2022). Revenue: €4.06b (up 7.0% from 2Q 2022). Net income: €138.0m (up 22% from 2Q 2022). Profit margin: 3.4% (up from 3.0% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 14
Upcoming dividend of €0.45 per share at 6.3% yield Eligible shareholders must have bought the stock before 21 April 2023. Payment date: 25 April 2023. Payout ratio is a comfortable 54% and the cash payout ratio is 94%. Trailing yield: 6.3%. Within top quartile of British dividend payers (5.8%). Higher than average of industry peers (3.1%). Reported Earnings • Mar 09
Full year 2022 earnings released Full year 2022 results: Revenue: €15.8b (up 14% from FY 2021). Net income: €557.0m (down 26% from FY 2021). Profit margin: 3.5% (down from 5.5% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Auto Components industry in the United Kingdom. Reported Earnings • Nov 10
Third quarter 2022 earnings released Third quarter 2022 results: EPS: €0.25. Revenue: €4.24b (up 27% from 3Q 2021). Net income: €169.0m (up 13% from 3Q 2021). Profit margin: 4.0% (down from 4.5% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Auto Components industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment improved over the past week After last week's 16% share price gain to €6.14, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Auto Components industry in Europe. Total loss to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.57 per share. Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: €0.16 (vs €0.34 in 2Q 2021) Second quarter 2022 results: EPS: €0.16 (down from €0.34 in 2Q 2021). Revenue: €3.79b (up 9.7% from 2Q 2021). Net income: €113.0m (down 50% from 2Q 2021). Profit margin: 3.0% (down from 6.6% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 8.8%, compared to a 79% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 11
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: €1.13 (up from €0.64 loss in FY 2020). Revenue: €13.9b (up 9.9% from FY 2020). Net income: €756.0m (up €1.18b from FY 2020). Profit margin: 5.5% (up from net loss in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 7.4%, compared to a 73% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 09
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: €1.13 (up from €0.64 loss in FY 2020). Revenue: €13.9b (up 9.9% from FY 2020). Net income: €756.0m (up €1.18b from FY 2020). Profit margin: 5.5% (up from net loss in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 6.9%, compared to a 81% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €5.04, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 10x in the Auto Components industry in Europe. Total loss to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.79 per share. Reported Earnings • Nov 10
Third quarter 2021 earnings released The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: €3.33b (down 1.9% from 3Q 2020). Net income: €149.0m (up €321.0m from 3Q 2020). Profit margin: 4.5% (up from net loss in 3Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 05
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €3.45b (up 51% from 2Q 2020). Net income: €227.0m (up €395.0m from 2Q 2020). Profit margin: 6.6% (up from net loss in 2Q 2020). Executive Departure • Aug 04
CFO, Member of Board of Managing Directors & Member of Executive Board Klaus Patzak has left the company On the 31st of July, Klaus Patzak's tenure as CFO, Member of Board of Managing Directors & Member of Executive Board ended after less than a year in the role. We don't have any record of a personal shareholding under Klaus' name. Klaus is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 3.79 years. Executive Departure • Aug 04
CFO, Member of Board of Managing Directors & Member of Executive Board Klaus Patzak has left the company On the 31st of July, Klaus Patzak's tenure as CFO, Member of Board of Managing Directors & Member of Executive Board ended after less than a year in the role. We don't have any record of a personal shareholding under Klaus' name. Klaus is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 3.79 years. Executive Departure • Aug 04
CFO, Member of Board of Managing Directors & Member of Executive Board Klaus Patzak has left the company On the 31st of July, Klaus Patzak's tenure as CFO, Member of Board of Managing Directors & Member of Executive Board ended after less than a year in the role. We don't have any record of a personal shareholding under Klaus' name. Klaus is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 3.79 years. Reported Earnings • May 14
First quarter 2021 earnings released: EPS €0.35 (vs €0.28 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €3.56b (up 8.5% from 1Q 2020). Net income: €235.0m (up €419.0m from 1Q 2020). Profit margin: 6.6% (up from net loss in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Apr 20
Upcoming dividend of €0.25 per share Eligible shareholders must have bought the stock before 26 April 2021. Payment date: 28 April 2021. Trailing yield: 3.0%. Lower than top quartile of British dividend payers (4.1%). Higher than average of industry peers (2.0%). Reported Earnings • Mar 05
Full year 2020 earnings released: €0.64 loss per share (vs €0.64 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: €12.6b (down 13% from FY 2019). Net loss: €424.0m (down 199% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 82% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Mar 05
Revenue beats expectations Revenue exceeded analyst estimates by 0.07%. Over the next year, revenue is forecast to grow 10%, compared to a 8.9% growth forecast for the Auto Components industry in the United Kingdom. Is New 90 Day High Low • Feb 27
New 90-day high: €7.09 The company is up 7.0% from its price of €6.61 on 27 November 2020. The British market is up 4.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Auto Components industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €11.58 per share. Is New 90 Day High Low • Feb 08
New 90-day high: €7.09 The company is up 19% from its price of €5.96 on 10 November 2020. The British market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Auto Components industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €12.27 per share. Is New 90 Day High Low • Dec 31
New 90-day high: €6.82 The company is up 27% from its price of €5.37 on 02 October 2020. The British market is up 13% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Auto Components industry, which is up 38% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €11.73 per share. 
