Schaeffler improves profit but plans further cuts as car demand weakens
Nine-month profit rose, yet pressure in the automotive business has prompted another restructuring plan. Robotics offers a different source of future growth.
Schaeffler’s latest results show a business improving its profits while still having to shrink parts of its operations. The German company makes bearings, vehicle systems and components for industrial machines and robots. Revenue for the first nine months of 2026 fell 1.1% to €17.48 billion, although some businesses held up better than others.
Reported operating profit rose to €532 million from €406 million a year earlier. Profits from industrial bearings and vehicle repair parts helped offset pressure elsewhere, while the electric-mobility division remained loss-making. The company kept its full-year outlook unchanged, but that does not mean the difficulties in its automotive business are over.
Alongside the results on 3 November, Schaeffler announced plans to cut 3,460 positions in Europe, mainly during 2027 and 2028. Demand for combustion-engine products is weakening, while electric-vehicle production has grown more slowly than expected. The company expects around €480 million in one-off costs and €300 million in annual savings from 2030. Those savings are a target, with the job reductions still to be implemented.
Schaeffler is also seeking new customers beyond cars. Its humanoid-robotics orders had reached about €400 million by the third quarter, but orders become revenue only as deliveries take place. For now, the results underline how much its progress still depends on the larger automotive business, alongside the opportunity in robotics.