Schaeffler reports record sales and earnings in 2011
Schaeffler Group has reported record 2011 sales of 10.7 billion euros and a 12 per cent increase in pre-tax profits to 1.7 billion euros. It is the first time in the company’s history that sales topped the 10 billion euro mark. Schaeffler Group directly owns a 49.9 per cent stake in Continental AG.
Commenting at the press conference where the news was announced, Schaeffler AG CEO Dr Juergen Geissinger said: “Following our success in 2010, we were able to further improve our earnings across the board in 2011. That demonstrates the dedicated commitment of our employees around the world. Our wide range of components and systems for the automotive and the industrial sectors puts us in a very good strategic position as a globally oriented company.”