ZF Europe Finance B.V. Adjusts Financial Forecast for 2024

On September 27, 2024, ZF Europe Finance B.V. announced a revised financial forecast for the upcoming year due to economic and market challenges. The significant market downturn and reduced customer orders have led to lower earnings expectations and changes in the outlook.

The company's reassessment of risks in the powertrain technologies sector has further contributed to the adjustment. Despite visible effects from cost-saving measures, the expected negative impact from market and sales declines is considerable.

As a result, ZF now predicts Group sales between EUR 40 and 42 billion, down from the previous forecast of EUR 42.5 to 43.5 billion. The adjusted EBIT margin is anticipated to be between 3 and 4 percent, compared to the earlier range of 4.9 to 5.4 percent. Additionally, the adjusted free cash flow is estimated to exceed EUR 100 million, a significant decrease from the previous forecast of over EUR 800 million.