Group revenue, including the automotive and industrial divisions, may grow between 1 and 2 percent while the operating profit margin may come in at about 13 percent, Schaeffler said in a statement on Monday, reaffirming August targets.

Third-quarter sales rose 1.5 percent to 2.8 billion euros ($3.74 billion) and were up 5 percent once adverse currency effects were excluded, the company said, citing strong automotive business which added 80 percent to group operating earnings.

Net debt at the Herzogenaurach-based privately-held company stood at 5.45 billion euros at the end of September, down 16.3 percent from the end of 2012.

Schaeffler, the biggest shareholder auto parts and tyre maker Continental, makes components for automotive transmissions and clutches as well as ball bearings for aerospace engineering, railways and wind turbines.

(Reporting by Andreas Cremer; Editing by Maria Sheahan)