The global auto and industry supplier schaeffler group has released preliminary revenue data for 2017.

In 2017, at fixed exchange rate, the company's revenue increased 5.9 percent to about 14 billion euros (about 13.3 billion euros), exceeding the target target for 2017 full-year revenue (target = 4-5 percent).

Schaeffler's two divisions contributed to this encouraging performance.

2017 full-year auto market grew about 2.3%, schaeffler automotive division, calculated at a fixed exchange rate increase by about 5.9%, to 10.9 billion euros (about 10.3 billion euros a year:), significantly more than the year car market growth.

The industrial business unit has resumed its long-term stable development momentum. In 2017, the revenue of the industrial division will grow at a fixed exchange rate of 5.6 percent, or about 3.1 billion euros.

Schaeffler's global regions in 2017 contributed to this growth.

In terms of fixed exchange rate, schaefer's greater China revenue achieved a rapid growth of 24.1 per cent, with asia-pacific revenue growing 5.7 per cent, the americas 4.6 per cent and Europe 1.4 per cent.

"Our success in 2017 continued with the momentum of rapid growth, and the strong growth trend in the second half of the year was particularly satisfactory.

We overfulfilled the expected revenue target for 2017.

Revenue is expected to remain positive in 2018.

-- Klaus rosenfeld, chief executive of schaeffler group.

The overall strong growth of the automotive business has been driven by the combination of the automotive engine business and the after-sales business.

From January 1, 2018, the after-sales business of schaefer group is separated from the automobile host business, and the independent business unit, automobile after-sales business division, led by michal zidding (55 years old) is established.

In addition, from January 1, 2018, schaeffler set up an independent electric drive business, integrating all hybrid and pure electric vehicle products and solutions.

"With the establishment of the new organizational structure in 2018, we will continue to promote the transformation of schaeffler group.

We hope to further increase our focus on customer needs and focus on the continued growth of our businesses.

-- Klaus rosenfeld, chief executive of schaeffler group.

On March 7, schaeffler will hold its annual performance press conference in Munich to release its annual financial figures.