ZF Friedrichshafen AG has announced record sales of €12.9 billion in 2010, up 38% on the previous year, with pre-tax profits of €680 million. The automotive supplier also anticipates significant sales and profit growth in the current year with the first quarter of 2011 showing a 31% sales increase.
ZF is one of the world’s leading automotive industry suppliers specialising in driveline and chassis technologies. With a workforce of around 70,000 employees, the company operates 117 plants in 26 countries.
The company utilises a range of powder metallurgy components in the production of its automatic and manual transmissions, as well as a number of innovative sintered components in its chassis technology.
“No one guessed that we would manage to overcome the financial and economic crisis and increase our sales to an all-time high so rapidly,” remarked ZF CEO Hans-Georg Härter at the Group’s annual press conference in Stuttgart. “The recovery that began to appear in late 2009 stabilised in the course of the past fiscal year. This allowed ZF Group to achieve well-above-average rates of growth in all segments.”
Growth in sales to the passenger vehicle industry grew by between 30% and 40%, with exceedingly positive sales growth occurring for premium car products. The truck and construction equipment segments, which were particularly affected by the crisis in 2009, managed in 2010 to post extremely high growth rates of roughly 50% and 100% respectively, albeit based on very low sales in the previous year, stated the company.
In 2011, ZF will hire approximately 5,000 new employees worldwide and the ZF Group plans to invest massively in site expansions and new products.