BERLIN (dpa-AFX) - German automotive and industrial supplier Schaeffler (SCFLF.OB) reported Tuesday that its nine-month net income attributable to shareholders of the parent company amounted to 417 million euros, down from last year's 611 million euros.
Earnings per common non-voting share were 0.63 euros, compared to 0.92 euro a year ago.
EBIT margin before special items fell 15.5 percent from last year to 813 million euros, and EBIT margin before special items fell to 6.9 percent from 9.3 percent a year ago.
Revenues grew 14 percent to 11.79 billion euros from 10.35 billion euros last year. Revenues increased 8.7 percent at constant currency rates.
In the third quarter, EBIT before special items climbed 36.4 percent to 355 million euros, and EBIT margin improved to 8.4 percent from 7.8 percent last year.
Revenues for the third quarter rose 27.3 percent to to 4.24 billion euros from prior year's 3.33 billion euros. Revenues increased 20.2 percent at constant currency.
Further, the company confirmed fiscal 2022 guidance.
Schaeffler continues to expect its revenue to grow by 6 to 8 percent excluding the impact of currency translation in 2022. In addition, the company expects to generate an EBIT margin before special items of 5 to 7 percent in 2022.
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