Schaeffler to achieve solid growth in 2023 with sales of 16.3 billion euros

In 2023, the Schaeffler Group achieved solid growth, with sales of 16.3 billion euros, an increase of 5.8% at constant exchange rates. This result exceeded expectations. The Group also achieved a free cash flow of 421 million euros, which was higher than expected. In order to return the favor to shareholders, the Group announced a dividend of 45 cents per share. The Automotive Technology Division had sales of 9.772 billion euros, the Automotive Aftermarket Division had sales of 2.253 billion euros, and the Industrial Division had sales of 4.288 billion euros. With the completion of the merger with Vitesco Technologies, the Schaeffler Group will have four major divisions, and sales are expected to increase significantly in 2024.