(RTTNews) – The Schaeffler Group reported third quarter EBIT before special items of 187 million euros, down 44.9% from a year ago. The group’s revenue for the third quarter declined by 1.1 percent at constant currency to 3.96 billion euros. Looking forward, Schaeffler confirmed its Group-level outlook for 2024.
For the nine month period, EBIT before special items was 713 million euros compared to 964 million euros, last year. Revenue for the first nine months increased by 1.0 percent at constant currency to 12.23 billion euros.
“Given the challenging environment, the earnings for the third quarter of 2024 are acceptable,” said Klaus Rosenfeld, CEO of Schaeffler AG.
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