ZF Friedrichshafen, the world’s ninth largest auto parts supplier, aims to break even next year as revenue is set to return back above the EUR10bn (US$14.5bn) mark.
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“Growth at ZF next year will exceed the expected growth in our industry,” chief executive Hans-Georg Haerter told Reuters, adding his target for 2010 was to avoid another loss.
“Although we have had to absorb significant losses in the hundreds of millions of euros … we continue to have no liquidity problems, and on top of that we have the prospect of an increasing market share and for the final quarter of 2009 a positive operating profit once again,” he said.
A ZF spokesman said that Haerter told a press conference the loss for 2009 would be between EUR300-EUR400m ($436.2-$581.6m) depending on the outcome of impairment tests.
The driveline and chassis specialist expects revenue will drop 25% to EUR9.3bn this year.
ZF is also looking to diversify away from its heavy exposure to developing and manufacturing gearboxes as automakers eye electric drivetrains.
“We are utilising our electronics expertise and entering the market for telemetry services,” Haerter said.
