Statement on Ukraine

We condemn the war against Ukraine in the strongest possible terms.

Within this context, Schaeffler AG is implementing all sanctions imposed on Russia. Outside of the sanctions, we have reduced our deliveries to the absolute minimum. Our plant in Ulyanovsk has stopped production until further notice.

The safety and well-being of our employees in Ukraine, with whom we have been in regular contact, is our top priority. A task force is evaluating the developments on a daily basis in order to quickly implement all necessary measures.

In a first step to help the Ukrainian people and the refugees, Schaeffler AG and the family holding company donated 500,000 euros to the German Red Cross at the onset of the war. Thanks to the generosity of our employees, we have decided to match all donations.

We are not yet able to provide any information about the future of our business in Russia, which has come to a standstill. However, we will continue to protect the interests of our local employees, to the extent that it is legally possible.