ZF Recorded a Sales Revenue of 19.3 Billion Euros in H1, 2021
On July, 29, ZF officially released its financial report in the first half of 2021, showing that the company recorded a sales revenue of 19.3 billion euros, up by 43% year on year. The nominal growth rate of its sales revenue went up by 38% year on year (the figure stood at -27% in 2020). In the same period, its earnings before interest and tax (EBIT) stood at one billion euros (in the first half of 2020, the figure was recorded at -177 million euros) and its EBIT margin reached 5.2% (in 2020, the figure was -1.3%).
According to Wolf-Henning Scheider, CEO of ZF, the company has been making relentless efforts to make technological innovations and thus to help vehicles cut emissions and improve their safety standards. “In this new era, it is not easy to strike a balance among fighting global warming, ensuring employment and meeting people’s growing travel needs. However, we must set clear goals for infrastructure construction to power our vehicles in a more environmentally friendly manner”, said Scheider.
Despite a host of challenges in 2021, ZF started to cooperate with many local suppliers. “We reached our goals and improved our profit margin. In latter this year, cost control will still be the key for our continued success”, said Konstantin Sauer, CFO of ZF.
For the whole year, ZF’s sales revenue is expected to reach 37-39 billion euros, its EBIT margin 4.5%-5.5%, and its free cash flow 0.8-1.2 billion euros.
ZF’s two independent commercial vehicle departments will officially merge in January, 2022. Wilhelm Rehm has already been appointed as the head of the Commercial Vehicle Solution Department. Ms. Yu Sujie will be in charge of the Commercial Vehicle Solution Department in Asia-Pacific region.
After acquiring WABCO, ZF has further diversified its product line and thus provides more competitive solutions for its global customers. So far, the company has received many orders from customers for autonomous driving vehicles, electricity-powered vehicles and vehicle management.
From September 7 to 12 this year, ZF will attend IAA Mobility held in Munich, Germany and showcase its latest products and mobility solutions for its global customers.
Source : www.chinabuses.org
Editor : Mark