Schaeffler expands Germany retirement scheme to cut costs after in-line Q2
By Amir Orusov
Schaeffler's Cost-Cutting Measures and Financial Performance
Expansion of Partial Retirement Programme
Aug 5 (Reuters) - Schaeffler plans to expand its partial retirement programme in Germany to lower costs at its domestic sites, the automotive and industrial supplier said on Wednesday, after reporting second-quarter operating profit in line with market expectations.
Details of the Programme
It said the measure, expected to be taken up by around 1,300 workers, had been agreed with employee representatives and would result in a one-off charge of about €51 million ($59 million) in 2026, with savings expected from 2027.
CEO's Statement
"The immediate impact on savings is hard to calculate," CEO Klaus Rosenfeld told Reuters.
Comparison to Previous Restructuring
The arrangements largely mirror those Schaeffler offered under its restructuring measures announced in November 2024.
Financial Results and Outlook
Q2 Operating Profit and Margin
Schaeffler confirmed its full-year outlook after its quarterly adjusted earnings before interest and taxes rose to €264 million, broadly matching a company-provided consensus. The operating profit margin of 4.5% was also in line with expectations.
Robotics and E-Mobility Business Developments
Robotics Orders and Profitability
Order Book Growth
ROBOTICS ORDERS COME IN, PROFIT NOT IN SIGHT
Schaeffler, which has been increasing its exposure to the humanoid-robotics market, estimated that its order book for this business area reached €350 million in the first half of the year, with orders from three major global customers, including two based in the U.S.
Profitability Outlook
While highlighting opportunities within robotics and defence, and calling the robotics order book estimate "conservative", Rosenfeld said these businesses were unlikely to make a meaningful contribution to earnings in the medium term.
E-Mobility Division Challenges
Sales Target and Margin Downgrade
Last week, Schaeffler cut its medium-term sales target and lowered the 2028 margin goal for its E-mobility division.
Market Factors Affecting E-Mobility
Rosenfeld said the downgrade was driven largely by the United States, where major electrification programmes were cancelled or scaled back after support measures for electric vehicles were rolled back earlier this year.
E-mobility remains a key pillar of Schaeffler's strategy, but weaker demand for EVs, customer order cancellations and intense competition have delayed the unit's path to profitability.
($1 = 0.8672 euros)
(Reporting by Amir Orusov; editing by Izabela Niemiec)
