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EQS-Ad-hoc: ZF North America Capital Inc. / Key word(s): Change in Forecast/Change in Forecast
ZF North America Capital Inc.: 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.comAbout 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 North America Capital Inc. |
|
15811 Centennial Drive |
|
MI 48168 Northville |
|
United States |
| E-mail: |
investor.relations@zf.com |
| ISIN: |
DE000A14J7F8, DE000A14J7G6, US98877DAC92, DE000A14J7F8, DE000A14J7G6, US98877DAA37 , |
| WKN: |
A14J7F, A14J7G |
| Listed: |
Luxembourg Stock Exchange |
| EQS News ID: |
1997565 |
| |
| End of Announcement |
EQS News Service |
1997565 27-Sep-2024 CET/CEST
EQS-Ad-hoc: ZF North America Capital Inc. / Key word(s): Change in Forecast/Change in Forecast
ZF North America Capital Inc.: 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.comAbout 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 North America Capital Inc. |
| 15811 Centennial Drive |
| MI 48168 Northville |
| United States |
| E-mail: |
investor.relations@zf.com |
| ISIN: |
DE000A14J7F8, DE000A14J7G6, US98877DAC92, DE000A14J7F8, DE000A14J7G6, US98877DAA37 , |
| WKN: |
A14J7F, A14J7G |
| Listed: |
Luxembourg Stock Exchange |
| EQS News ID: |
1997565 |
| |
| End of Announcement |
EQS News Service |
1997565 27-Sep-2024 CET/CEST
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