ZF 2019 sales drop marginally y/y to USD40.9 billion
German supplier has not provided outlook for FY 2020
ZF’s sales declined 1% y/y to EUR36.5 billion (USD40.9 billion) in the financial year ended 31 December 2019, the automotive supplier said in an annual press conference in Friedrichshafen, Germany, on 26 March. Adjusted for currency and merger and acquisition (M&A) effects, sales declined 1.9% y/y. ZF reported adjusted EBIT of EUR1.2 billion, down 28.6% y/y, and adjusted EBIT margin of 4.1% compared with 5.6% a year earlier.
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