ABB, Continental Group and Schaeffler Group Release 2024 Financial Data, Demonstrating Industry Trends

Source：ABB China

Recently, ABB, Continental Group and Schaeffler Group have successively released their financial data for 2024, presenting the development of the automotive and related industries in a complex market environment from different perspectives.

Source：ABB China

As an important enterprise in the field of electricity and automation, ABB achieved a record sales revenue of $32.9 billion in 2024, with an operating EBITDA margin of 18.1% and free cash flow of $3.9 billion. Its performance varies in business segments such as electrification, robotics and discrete automation, process automation, and motion control. The electrification business has seen an increase in orders and revenue due to the growing demand from data centers and utilities. The robotics and discrete automation business has been affected by the slowdown in capital expenditure in the manufacturing industry, but there has been an increase in orders in the fourth quarter. The process automation business has achieved a 6% growth in orders and revenue throughout the year. The motion control business has witnessed good growth in short - cycle orders, but a decrease in project orders. In addition, ABB has achieved remarkable results in sustainable development. Since 2019, its Scope 1 and Scope 2 greenhouse gas emissions have decreased by 78%, and in 2024, the products sold by ABB can avoid 66 million tons of greenhouse gas emissions during their life cycle.

Source：Continental Group

In 2024, Continental Group's group sales amounted to 39.7 billion euros, with a total net profit of 1.2 billion euros and an EBIT margin of 6.8%. Among its business segments, the sales of the tire business decreased to 13.9 billion euros. Due to the growth in the market share of high - end tires and the strong performance of the European winter business, the adjusted EBIT margin reached 13.7%. The sales of the ContiTech business decreased by 6.7% to 6.4 billion euros, and the adjusted EBIT margin decreased to 6.2% due to the weak environment in the automotive and industrial sectors. The sales of the automotive sub - group decreased by 4.3% to 19.4 billion euros. Through measures such as cost control, the adjusted EBIT margin increased to 2.3%. Continental Group expects its group sales to be approximately between 38 billion and 41 billion euros in 2025 and will also promote the independent listing of its automotive sub - group.

Source：Schaeffler

Schaeffler Group's sales in 2024 were 18.2 billion euros, an increase of 12.9% at constant exchange rates, which benefited from the 1.95 - billion - euro revenue contribution from the subsidiaries of the merged Vitesco Technologies. However, the group suffered a net loss of 632 million euros, mainly due to a special impact of 725 million euros from the restructuring. In various business areas, the sales of the Automotive Technologies division were 6.955 billion euros. The e - drive business grew by 12.6%, but the engine and transmission, and chassis businesses declined. The sales of the Vehicle Lifecycle Solutions division increased by 16.9% to 2.579 billion euros. The sales of the Industrial division decreased by 4.5% to 6.57 billion euros. Schaeffler expects its turnover to be between 23 billion and 25 billion euros in 2025, with an EBIT margin of 3% to 5% before special items, and plans to lay off 4,800 employees to enhance its competitiveness.

The financial data of these companies reflect that during the transformation of the automotive industry towards electrification and intelligence, enterprises are facing many problems such as fluctuating market demand and supply chain challenges. They are adapting to changes and seeking new development opportunities through business adjustments, cost control, technological innovation and other means.

Source：Schaeffler、ABB China、Continental Group、Automotive News Network、 Automotive Manufacturing AP

Published by：AMTS Content Marketing Team