Schaeffler - material, energy costs may hit margins

Newswire

FRANKFURT, March 29 (Reuters) - German ball bearings maker Schaeffler said its operating profit margin could decline due to higher raw material and energy costs, even as it expects record revenues in 2011. Schaeffler said it expects its earnings before interest and tax to supass 13 percent of its turnover, down from 16 percent in 2010. The company said sales should rise between eight to 10 percent to an all-time-high of over 10 billion euros ($14.12 billion) in 2011. It also said there ...

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