Press Release
ZF changes forecast for financial year 2024
- Weak economy and market decline reflected in ZF's forecast for 2024
Friedrichshafen, Germany. The accelerated, significant market decline and the associated sharp drop in customer call-offs lead to an adjustment of ZF's annual forecast. In addition, a reassessment of risks in the powertrain technologies business results in lower earnings expectations.
The cost-saving measures from the performance programs are showing visible effects, but the expected burden from the market and sales declines is significantly higher than previously assumed.
Based on the developments described above, ZF is adjusting its forecast for the financial year 2024 as follows:
- ZF now expects Group sales between EUR 40 and 42 billion (previously: EUR 42.5 to 43.5 billion).
- The adjusted EBIT margin is expected to be between 3 and 4 percent (previously: 4.9 to 5.4 percent).
- The adjusted free cash flow is estimated to be higher than EUR 100 million (previously: higher than EUR 800 million).
MEDIA
Press Release
