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Schaeffler AG : FCF generation to remain robust on stricter internal capital allocation criteria

>2018 EBIT pre special items 4% below our estimate, beat on FCF - Yesterday (06 Mar), Schaeffler (SHA) released its 2018 results. 2018 group sales came in at € 14,241m (+1.6% yoy, organic + 3.9% yoy) in line with our expectation (€ 14,259m) and a touch below consensus (€ 14,334m). 2018 group EBIT pre special items was € 1,381m (9.7% margin, -160bp yoy) and thus 4% below our estimate (€ 1,446m) and consensus (€ 1,443m). 2018 FCF before M&A of € 384m beat our estimate ...
Underlying
Schaeffler AG

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Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

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