The ZF Group has announced that its estimated sales in 2011 rose by 20% to an all-time high of ‘about EUR15.5bn’.
It also said that ZF Group employees worldwide expanded 12% in 2011 (including the acquisition of Hansen Industrial Transmissions and parts of Honsel).
Go deeper with GlobalData
“We stay on the road to success and achieve an all-time high in 2011 with sales amounting to EUR15.5bn,” said ZF CEO Hans-Georg Härter. “After sales growth of 38 percent in 2010, ZF Group again achieves a growth of 20 percent, which is far more than the industry average.”
The company said that growth of sales revenue in 2011 was over 40 percent, while growth in Eastern Europe was estimated at over 30%. In Europe as a whole, ZF’s revenue growth was put at almost 20 percent.
ZF said that it benefited from continuously high demand for passenger cars and noted that the passenger car premium segment ‘proves to be stable and does not show any sign of economic slowdown’. However, it said that the segment of small-sized passenger cars ‘got slightly under pressure lately’.
“The common denominator for all vehicle categories is that the end customers are requesting economical and resource-preserving technologies – a trend from which we can profit significantly with our long-lasting and fuel-saving products,” says ZF’s CEO Härter. “This is true for all our products, whether they are applied in passenger cars, buses, trucks, construction or agricultural machinery or many other fields of application.”
