Schaeffler Group Share Buyback Program Completed

Schaeffler Group, a leading global supplier of automotive and industrial components, has completed its share buyback program.

The company repurchased a total of 15,000,000 of its own shares, representing approximately 1.5% of its share capital.

The buyback program was launched in September 2022 and was completed on 30 April 2023. The shares were repurchased at an average price of €11.25 per share, for a total consideration of approximately €168.75 million.

The buyback program was part of Schaeffler Group's capital management strategy and was designed to reduce the company's share capital and return excess capital to shareholders.

Schaeffler Group is a leading global supplier of automotive and industrial components. The company has a workforce of approximately 83,000 employees at over 200 locations in over 50 countries. The company's products include bearings, clutches, transmission systems, and chassis components.

In 2022, Schaeffler Group generated sales of approximately €14.2 billion. The company is a major supplier to the automotive industry and also has a strong presence in the industrial sector.

Schaeffler Group is a family-owned company and has been in business for over 120 years. The company is headquartered in Herzogenaurach, Germany.

The completion of the share buyback program is a sign of Schaeffler Group's financial strength and its commitment to returning excess capital to shareholders.

The company's shares are traded on the Frankfurt Stock Exchange and are included in the DAX index.