The global automotive and industrial products supplier Schaeffler Group's earnings growth. The first half of 2016, revenues reached 6.7 billion euros. At constant exchange rates, an increase of 2.9%. Company EBIT (EBIT) growth rate of 0.5%, reaching 12.8% (previous year: excluding special items, down 12.3%). No special items in the first half 2016, net income rose about 60 percent to 494 million euros (previous year: 309 million euros). CEO of Schaeffler AG, Klaus Rosenfeld introduced in 2016 first-half results, said: "Business in the first half made a good development of our continuing growth in all profitability indicators had. upgrade. "
 
Compared with last year, the car business by constant currencies increased by 5.4% (taking into account currency translation effects 2.2%), exceeding growth in passenger cars and light commercial vehicles (2.2%) yield again. From a regional perspective, strong demand Schaeffler Greater China and the Asia-Pacific region is the main driving force of revenue growth.
 
In a challenging market environment, the industrial business 2016 second quarter revenue compared to the first quarter remained stable level. This is mainly due to the European region in the second quarter and achieved a slight increase. Compared to the same period last year, revenues in the first half of 2016 at constant exchange rates fell by 4.9% (taking into account currency translation impacts of -7.2%). Although some industries, such as wind energy, two-wheeled vehicles and aerospace achieved considerable growth, but economic uncertainty had a negative impact to revenue, especially raw materials industry and the auto business aspects.
 
Schaeffler Group revenue trend of the four regions vary. Schaeffler European revenue at constant exchange rates increased by 2.7% (taking into account currency translation effects of 1.4%), the Americas region grew slightly at constant exchange rates of 0.3% (taking into account currency translation impacts of -5.5%), reflects not only the industrial business weak, also reflects the economic uncertainty in Brazil. In the active drive automotive business, the Greater China and Asia Pacific revenue by fixing the exchange rate increased by 5.3% (taking into account currency translation effects 0.9%) and 5.9% (taking into account currency translation effects of 2.0%).
 
Compared with last year, EBIT rose by 5.0 percent to 859 million euros. EBIT margin rose to 12.8% from 12.3%. The first half of 2016, the automotive business EBIT margin of 14.3% (previous year 13.0%). Industrial EBIT margin over the same period was 7.8% (previous year 10.1%). Following an increase of 6.4% in the first quarter, interest-industrial division EBIT margin jumped to 9.3% in the second quarter, partly due to the measures of "core" (CORE) project undertaken.
 
Net income increased to 494 million euros (previous year 309 million euros). Rosenfeld commented: "The first half, our net income increased nearly 60 percent in addition to the strong operating performance, mainly due to a substantial reduction in the growth of the financial costs.." Net financial results from a negative € 337 million upgrade to a negative 153 million euros. Last year's financial results reflect the one-time costs related to the early redemption of bonds.
 
The first half of 2016, the Schaeffler Group's cash flow from operating activities rose to 777 million euros (previous year 422 million euros). Capital expenditures amounted to 561 million euros (previous year 501 million euros). The ratio of capital expenditure in the first half of 2016 (ie capital expenditure on the consolidated income share) increased to 8.4% (previous year 7.5%). Most of the capital expenditure incurred in Europe and Greater China. CFO Dr. Ulrich Hauck explained: "Because of the good operating performance, although higher capital expenditures, our free cash flow jumped to € 216 million compared with last year." Last year, free cash flow 7,200 million euros, and by the early redemption of bonds related to the impact of one-time costs.
 
Net financial debt remained at the end of last year the level of 4.9 billion euros. Excluding special items, net debt and interest, taxes, profit (EBITDA) Depreciation and amortization ratio to 2.0 (December 31, 2015: 2.1).
 
The first half of 2016, the Schaeffler Group in the world to create more than 1,000 new jobs. As of June 30, 2016, the company employs about 85,200 names (by the end of 2015: about 84,200 names).
 
The company determined the 2016 general guidelines. Rosenfeld said: "We are confident the company will successfully achieve the annual target of 2016." Schaeffler Group forecast 2016 full-year growth at constant exchange rates to reach 3-5%, excluding special items, EBIT margin reached 12- 13% of free cash flow of about 600 million euros.