Schaeffler is transforming from a cyclical auto-parts supplier into a diversified motion-technology platform, with Vitesco synergies, E-Mobility execution and robotics optionality driving the re-rating case.
Overview
Schaeffler has completed a major transformation through the Vitesco merger and simplification into a single voting share class, improving liquidity and enabling MDAX inclusion. FY2025 revenue was stable at EUR 23.49 billion, with adjusted EBIT margin improving to 4.0%, while Q1 2026 showed stronger resilience at a 5.0% margin. The investment case rests on order-book execution, merger synergies, deleveraging and robotics adjacency. Near-term risks remain meaningful: restructuring cash-outs, 2.2x leverage, weak auto production and integration complexity.