ZF Reports €1 Billion Loss in 2024 as Restructuring Efforts Intensify
The automotive supplier cites high restructuring costs and declining revenues while planning workforce reductions and new strategies for its electric drive division.
- ZF recorded a net loss of over €1 billion in 2024, driven by €600 million in restructuring costs and weak market conditions.
- Revenue fell by 11% to €41.4 billion in 2024, compared to €46.6 billion the previous year.
- The company plans to cut up to 14,000 jobs in Germany over the coming years as part of its cost-saving measures.
- ZF's electric drive division, generating €11.5 billion in revenue, is being prepared for partnerships to enhance its independence and attract investment.
- For 2025, ZF projects revenue exceeding €40 billion but anticipates continued challenges in the automotive sector due to weak economic conditions and low demand for electric vehicles.
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