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EQS-Adhoc: ZF Finance GmbH: ZF changes forecast for financial year 2024

EQS-Ad-hoc: ZF Finance GmbH / Key word(s): Change in Forecast/Change in Forecast
ZF Finance GmbH: ZF changes forecast for financial year 2024

27-Sep-2024 / 13:55 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS Group AG.
The issuer is solely responsible for the content of this announcement.

ZF changes forecast for financial year 2024
 
  • Weak economy and market decline reflected in ZF's forecast for 2024
Friedrichshafen. 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)


Investor Relations contact (responsible person for publication):
Charbel Chamoun, Head of Investor Relations & Rating,
Phone: +49 7541 77-969305, E-Mail: charbel.chamoun@zf.com






About ZF
ZF is a global technology company supplying advanced mobility products and systems for passenger cars, commercial vehicles and industrial technology. Its comprehensive product range is primarily aimed at vehicle manufacturers, mobility providers and start- up companies in the fields of transportation and mobility. ZF electrifies a wide range of vehicle types. With its products, the company contributes to reducing emissions, protecting the climate as well as enhancing safe mobility. Alongside the automotive sector – passenger cars and commercial vehicles – ZF also serves market segments such as construction and agricultural machinery, wind power, marine propulsion, rail drives and test systems.

With some 168,700 employees worldwide, ZF reported sales of €46.6 billion in fiscal 2023. The company operates 162 production locations in 31 countries.

For further press information and photos, please visit: www.zf.com
 


End of Inside Information

27-Sep-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Corporate News and Press Releases.
Archive at www.eqs-news.com/international

Language:English
Company:ZF Finance GmbH
Löwentaler Straße 20
88046 Friedrichshafen
Germany
E-mail:investor.relations@zf.com
Internet:www.zf.com
ISIN:XS2231715322, XS2231331260, XS2262961076, XS2399851901, XS2338564870
Listed:Luxembourg Stock Exchange
EQS News ID:1997561

 
End of AnnouncementEQS News Service

1997561  27-Sep-2024 CET/CEST

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