Auto crisis: Auto supplier ZF writes red numbers again

Auto crisis: Auto supplier ZF writes red numbers again

Car crisis
Auto supplier ZF writes red numbers again






The Auto supplier ZF has been going badly for years. Now the crisis is coming to a head: the group is making Miese again in the first half of the year. The prospects are cloudy – even when cutting off.

The crising car supplier ZF Friedrichshafen wrote red numbers again in the first half of the year. The loss of group was 195 million euros, as ZF CFO Michael Frick announced. Since the markets are very unstable, he assumes that a loss will also be realized in the year as a whole. How high this is unclear. Then the foundation company would slide into the minus in the second year in a row.



In the first six months, according to the information, the costs for the restructuring and the interest payments for the high debts of the group made it. The net liabilities amounted to around 10.5 billion euros at the end of June. Frick said it was also conceivable that debt will increase slightly this year.

The foundation company announced in the morning that the adjusted result before interest and tax rose from 780 to 874 million euros in the first half of the year. Sales fell by 10.3 percent to 19.7 billion euros. The decline goes back to a one -time effect. At that time, the area of axle assembly, which has now been outsourced to the joint company ZF Foxconn, was still part of ZF.


ZF boss: restructuring for a long time not completed




ZF had already written deep red numbers in 2024. The loss had been just over a billion euros. The Lake Constance company is currently driving several savings programs. By the end of 2028, ZF plans to delete up to 14,000 jobs in Germany – roughly every fourth workplace in the country.


ZF CEO Holger Klein gave the employees no hope of a quick end to staff mining. He announced an acceleration and intensification of the restructuring program. The manager did not name any further specific plans for the cancellation of jobs.

Like competitors Bosch, Continental and Schaeffler, the second largest German supplier also put a strain on the lack of orders from the manufacturers and an enormous investment pressure. The sluggish run of e-mobility and the uncertainty due to the US tariffs meant lower sales and increasing costs, said Klein.

dpa

Source: Stern

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