BERLIN (dpa-AFX) - Global automotive and industrial supplier Schaeffler (SCFLF.OB) reported that its first-quarter revenues were 3.56 billion euros, up 11.2% from prior year at constant currency.
The EBIT margin (before special items) reached 11.3% in the first quarter compared to adjusted EBIT margin was 6.5% last year.
Free cash flow before cash in- and outflows for M&A activities in the first quarter were 130 million euros, compared to 137 million euros in the previous year. The main reasons were the better-than-expected revenue momentum in the first quarter, especially in China, as well as a favorable product mix.
Copyright RTT News/dpa-AFX
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