ZF Group reports strong half year in 2021 and announces plans for full merger of CV divisions
By Jim Gibbins - 1st July 2021
Germany - Component and mobility systems manufacturer, ZF Group of Friedrichshafen, reported a strong recovery in sales during the first six months of 2021, generating revenues of EUR19.3bn compared with EUR13.5bn in January to June 2020, which was significantly impacted by the Covid-19 pandemic. The increased revenue of 43% produced an adjusted EBIT of EUR1.0bn compared with minus EUR177m in 1H/2020. The ZF statement said, ‘The positive business development contrasts with an overall difficult and volatile international market environment.’
Commenting on group performance, Wolf-Henning Scheider, CEO of ZF, when presenting the half-year figures on July 29, 2021, said:
