Schaeffler reports record sales, earnings

ERJ staff report (DS)

Herzogenaurach, Germany – Schaeffler AG has reported record sales and earnings for the 12 months to December 2011. Sales for 2011 increased 13 percent to new record of €10.7 billion while EBIT increased to €1.7 billion; EBIT margin at 15.8 percent.

Net financial debt was approximately €7.1 billion at year-end. The leverage ratio, calculated as the ratio of net financial debt (excluding shareholder loans) to EBITDA for the past twelve months, amounted to 3.0 (prior year: 2.7).

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