Schaeffler
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Schaeffler (SHA0) investor relations material

Schaeffler Q1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 2026 earnings summary5 May, 2026

Executive summary

  • Q1 2026 saw 1.0% FX-adjusted sales growth year-over-year to €5.8 billion, with E-Mobility leading growth and other divisions showing mixed results despite a challenging environment.

  • EBIT margin before special items improved to 5.0% from 4.7% in the prior year, supported by operational improvements and lower R&D costs.

  • Free cash flow before M&A was negative at €-209 million, impacted by seasonal factors, restructuring payments, and inventory build-up.

  • Net income attributable to shareholders was €60 million, with EPS of €0.06, down from €0.09 in Q1 2025 due to a lower financial result.

  • Humanoid robotics business advanced with five contracts secured and first SOPs expected in Q2 2026.

Financial highlights

  • Q1 2026 revenue: €5,764 million, up 1.0% at constant currency from €5,924 million in Q1 2025.

  • Gross profit margin stable at 21.6% year-over-year.

  • EBIT before special items: €285 million, EBIT margin 5.0% (up from 4.7%).

  • Free cash flow before M&A: €-209 million (prior year: €-155 million).

  • Net financial debt: €5,143 million as of March 31, 2026; leverage ratio at 2.2x.

Outlook and guidance

  • Full-year 2026 guidance confirmed: revenue €22.5–24.5 billion, EBIT margin before special items 3.5–5.5%.

  • Free cash flow before M&A projected at €100–300 million for FY 2026.

  • E-Mobility and humanoid robotics expected to drive future growth, with humanoid revenues ramping up from 2027 onward.

  • Global light vehicle production forecast to decline by 1.8% in 2026; industrial production expected to grow 2.5–3.0%.

  • Management remains confident in achieving targets despite macroeconomic and geopolitical uncertainties.

Status of humanoid actuator series production
Growth of China B2B e-commerce platform
Impact of US tariffs on pricing and margins
Portfolio streamlining impact on Powertrain
Middle East conflict risks to freight and energy
E-Mobility margin drivers: synergies and volume
Detail the humanoid robotics and defense plan
Explain the E-Mobility break-even timeline
Discuss the 163.8 percent gearing ratio
Humanoid robot SOP timelines and revenue targets
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