Schaeffler: A good start to 2012, despite lower profits

摘要

MAJOR CONTINENTAL shareholder Schaeffer AG has reported a "good start" to 2012. Sales for the first three months of 2012 grew approximately six per cent to 2.9 billion euros, with revenue of both Schaeffer's Automotive and Industrial divisions again expanding faster than their respective markets. Automotive division sales increased by around six per cent to approximately 1.9 billion euros. The Industrial division also grew by a corresponding amount to over 900 million euros. The fastest growing region, North America, generated revenue growth of 17 per cent, followed by Asia/Pacific with 14 per cent and Germany with nine per cent. Sales in the Europe (excluding Germany) and South America declined by three and seven per cent respectively.