HERZOGENAURACH (dpa-AFX) - The automotive and industrial supplier Schaeffler made less profit last year due to the planned takeover of Vitesco. At 310 million euros, the net profit attributable to shareholders was almost half that of the previous year despite the upturn in day-to-day business, as the SDax company announced in Herzogenaurach on Tuesday. In addition to higher interest rates, the valuation of the Vitesco shares tendered in the takeover bid had a negative impact, and high costs were also incurred, particularly for energy hedging transactions.

Group sales grew by 3.2 percent to 16.3 billion euros. Adjusted for currency effects, the increase amounted to 5.8 percent. Analysts had expected slightly more here. Before special effects, earnings before interest and taxes rose by 13.5 percent to 1.19 billion euros. Although the corresponding margin increased by 0.7 percentage points to 7.3 percent, experts had expected a little more here as well.

Schaeffler anticipates significant currency-adjusted sales growth in the new year. However, the Group is already assuming that the takeover of drive specialist Vitesco will be completed in the fourth quarter. CEO Klaus Rosenfeld expects the operating profit margin adjusted for special items to be between 6 and 9 percent./men/stk