View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
July 29, 2021

ZF boosts H1 sales

The supplier saw a significant rise in sales in the first half despite ongoing challenges.

By Graeme Roberts

ZF sales in the first half of 2021 rose significantly to EUR19.3bn compared with EUR13.5bn in the first six months of Covid pandemic-hit 2020, a rise of 43%.

Adjusted EBIT was EUR1bn compared with a loss of EUR177m in H1 2020.

“We took the momentum from the second half of 2020 into this year and benefited from the economic recovery of the automotive industry,” said CEO Wolf-Henning Scheider.

ZF noted first half challenged such as the semiconductor shortage and “interrupted” supply chains, as well as price increases for raw materials and logistics.

It has “partially re-adjusted” and shortened supply chains by increasingly involving local suppliers.

ZF is holding to its forecast for the full year, expecting sales of EUR37bn to EUR39bn and adjusted EBIT margin in the range of 4.5% to 5.5%.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto