Summary: Schaeffler AG - S&P Global Ratings’ Credit Research

Summary: Schaeffler AG

Summary: Schaeffler AG - S&P Global Ratings’ Credit Research
Summary: Schaeffler AG
Published Dec 11, 2018
12 pages (4707 words) — Published Dec 11, 2018
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Leading market positions in a number of product offerings in the auto supplier and industrial segments, supported by excellent operating and technological capabilities. Wide geographic reach, product portfolio and customer diversity supporting the group's resilience. Somewhat declining, but still above industry average, profitability with projected adjusted EBITDA margins of 15%-17% in 2018-2020. Financial policy aimed at further deleveraging at holding level IHO Verwaltungs GmbH (IHO). S&P Global Ratings-adjusted FFO to debt of about 25%-30% expected for IHO in 2018-2020, Schaeffler to post 35%-40% FFO to debt in 2018-2020. Strong financial flexibility at IHO from its 46% stake in Germany-based auto supplier Contintental AG currently worth more than €12 billion. Geopolitical and macroeconomic risks that could hurt demand in cyclical and

  
Brief Excerpt:

...Key Strengths Key Risks + Leading market positions in a number of product offerings in the auto supplier and industrial segments, supported by excellent operating and technological capabilities. + Wide geographic reach, product portfolio and customer diversity supporting the group's resilience. + Somewhat declining, but still above industry average, profitability with projected adjusted EBITDA margins of 15%-17% in 2018-2020. + Financial policy aimed at further deleveraging at holding level IHO Verwaltungs GmbH (IHO). S&P Global Ratings-adjusted FFO to debt of about 25%-30% expected for IHO in 2018-2020, Schaeffler to post 35%-40% FFO to debt in 2018-2020. + Strong financial flexibility at IHO from its 46% stake in Germany-based auto supplier Contintental AG currently worth more than 12 billion. + Geopolitical and macroeconomic risks that could hurt demand in cyclical and competitive car and light commercial vehicle component markets. + Operations in capital-intensive auto supplier industry...

  
Report Type:

Summary

Issuer
Schaeffler AG
GICS
Auto Parts & Equipment (25101010)
Sector
Global Issuers
Country
Germany
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Schaeffler AG" Dec 11, 2018. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Schaeffler-AG-2142163>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Schaeffler AG Dec 11, 2018. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Schaeffler-AG-2142163>
  
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