ZF announces strong sales and earnings growth
15 Mar 2015|2,081 views
ZF Friedrichshafen AG has successfully completed the year 2014 with sales growth of nine percent which once again is above the industry average. The technology company generated sales of EUR18.4 billion (S$26.8 billion). At the same time, ZF has improved profitability, with earnings before interest and taxes (EBIT) rising more than one-third to about EUR1.1 billion (S$1.1 billion).
The regions of North America and Asia-Pacific were top contributors to the company's record sales, with each region increasing sales by 21 percent. In Europe, where ZF generated about 56 percent of sales, the company pulled in sales of EUR10.3 billion (S$15 billion), an increase of five percent compared to 2013.
As a result of the strong demand for ZF products, the company once again invested about EUR1 billion (S$1.46 billion) in property, plant, and equipment last year; an amount that considerably exceeds depreciation. The Engineering Centre in Shanghai, for instance, is being expanded on a massive scale; a new test centre for transmissions is being built in Friedrichshafen, the headquarters of Corporate Research and Development at the ZF Group.
In the year under review, ZF spent EUR891 million (S$1.3 billion) on research and development (R&D), which is seven percent more compared to the previous year. This means that ZF has once again reached the target figure of five percent of sales for R&D. In addition, the ZF Group had a global workforce of 71,402 employees, 41,188 thereof in Germany at the end of 2014. The Group created almost 3,200 additional jobs worldwide - an increase of five percent.
ZF Friedrichshafen AG has successfully completed the year 2014 with sales growth of nine percent which once again is above the industry average. The technology company generated sales of EUR18.4 billion (S$26.8 billion). At the same time, ZF has improved profitability, with earnings before interest and taxes (EBIT) rising more than one-third to about EUR1.1 billion (S$1.1 billion).
The regions of North America and Asia-Pacific were top contributors to the company's record sales, with each region increasing sales by 21 percent. In Europe, where ZF generated about 56 percent of sales, the company pulled in sales of EUR10.3 billion (S$15 billion), an increase of five percent compared to 2013.
As a result of the strong demand for ZF products, the company once again invested about EUR1 billion (S$1.46 billion) in property, plant, and equipment last year; an amount that considerably exceeds depreciation. The Engineering Centre in Shanghai, for instance, is being expanded on a massive scale; a new test centre for transmissions is being built in Friedrichshafen, the headquarters of Corporate Research and Development at the ZF Group.
In the year under review, ZF spent EUR891 million (S$1.3 billion) on research and development (R&D), which is seven percent more compared to the previous year. This means that ZF has once again reached the target figure of five percent of sales for R&D. In addition, the ZF Group had a global workforce of 71,402 employees, 41,188 thereof in Germany at the end of 2014. The Group created almost 3,200 additional jobs worldwide - an increase of five percent.
Latest COE Prices
April 2024 | 2nd BIDDING
NEXT TENDER: 08 May 2024
CAT A$94,010
CAT B$102,001
CAT C$68,502
CAT E$103,249
View Full Results Thank You For Your Subscription.