ZF Friedrichshafen says it generated Group sales of EUR29.2bn (US$32.7bn) in fiscal year 2015, including EUR8.9bn from ZF TRW, which has been integrated as the new Active & Passive Safety Technology Division since the acquisition in May last year.

Currency effects and organic growth together accounted for 5% of the increase in sales. Earnings before interest and taxes (EBIT) totalled EUR1.6bn, which corresponds to growth of EUR498m and an EBIT margin of 5.5%.

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ZF notes however, the key figures have been influenced “decisively” by acquisitions and disposals and, as such, are only comparable with the prior-year figures to a limited extent.

“2015 was an outstanding year for our company: we celebrated our centennial and successfully completed the largest and most important acquisition in the company’s history,” said ZF CEO, Stefan Sommer.

“In the past financial year we laid the foundations for a sustainably successful future at ZF. We are networking mechanical components intelligently with control units and sensors.

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“This way, we will be able to help shape the megatrends of safety, efficiency and autonomous driving even more effectively.”

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ZF expects Group sales for 2016 in the region of between EUR35bn and EUR36bn. The expected sharp increase in sales compared with 2015 is essentially based on the first-time full-year inclusion of ZF TRW.

For the medium term, ZF expects to see overall growth of 7% for the ZF Group, which is above-average for the market as a whole.

“In 2015, we performed successfully and once again did better than in the previous year,” added Sommer. “To ensure we are also well placed for the future, we need to do our homework in 2016 and improve our results.

“This applies in particular to the German locations, which we need to make even more competitive.”