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2021-03-04 15:35:58 GMT2021-03-04 23:35:58(Beijing Time) Xinhua English
BERLIN, March 4 (Xinhua) German automotive and industrial supplier Schaeffler AG recorded a net loss of 424 million euros (510 million U.S. dollars) in fiscal year 2020, down from a profit of 428 million euros in the previous year, the company said on Thursday.
Schaeffler s revenues declined at constant currency by 10.4 percent year-on-year to around 12.6 billion euros last year. The global coronavirus pandemic resulted in a significant revenue decline, the company noted.
However, the second half of the year, and particularly the fourth quarter, improved noticeably compared to the first half of the year, to which all divisions contributed, according to Schaeffler.