Schaeffler expands Germany retirement scheme, Q2 profit meets estimates
Schaeffler's Retirement Programme Expansion 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 it reported a second-quarter operating profit in line with expectations.
Details of the Programme and Expected Impact
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.
Comparison with Previous Restructuring Measures
The arrangements largely mirror those Schaeffler offered under its restructuring measures announced in November 2024.
Second-Quarter Financial Results
Schaeffler's second-quarter adjusted earnings before interest and tax rose to €264 million, broadly in line with analysts' expectations in a company-provided consensus, supported by its diversified business portfolio and progress in growth areas.
Operating Profit Margin and Market Forecast
The operating profit margin of 4.5% also matched the market forecast.
Additional Information
($1 = 0.8672 euros)
(Reporting by Amir Orusov; editing by Izabela Niemiec)
