Dr. Stefan Sommer, CEO of ZF CEO Stefan Sommer stated: "Since the first half of this year, ZF has invested heavily in future technology. We are rapidly increasing our research and development in the field of electric technology and automatic driving technology. Continued rising profitability, stable cash flow, and a series of new partnerships that complement our technology portfolio will help us maintain our current good momentum." In the first half of 2017, ZF’s sales totaled 18.3 billion Euros, an increase of 481 million Euros or 2.7% over the same period of last year. Excluding the exchange rate influencing factors, the organic growth rate after adjusting the trading of company shares was 3%. In the first half of 2017, the adjusted EBIT was 1.2 billion euros (2016: 1.1 billion euros), ie, the adjusted EBIT margin was 6.6% (2016: 6.3%). Dr. Konstantin Sauer, Chief Financial Officer of ZF added: “Despite increased R&D investment and investments in electric technology and automated driving, we are still able to further increase our profits, mainly due to ZF After the acquisition of TRW, a better level of operations and synergies were achieved.†Adjusted EBITDA was EUR 2 billion (2016: EUR 1.9 billion), equivalent to an adjusted EBITDA. The EBITDA margin was 10.8% (2016: 10.7%). Adjusting the free cash flow of the company's shares after trading was 322 million euros (2016: 401 million euros), which helped reduce the debt amount of 684 million euros and further reduced the total debt due to the acquisition of TRW to 7.6 billion euros. At the same time, the equity ratio rose by two percentage points to 23%. ZF expects that the Group's business development throughout the year will remain stable in 2017. Chief Financial Officer Dr. Sauer Sauer explained: “We still expect that the adjusted EBIT margin will exceed 6%, and the adjusted EBITDA will exceed 10%. Judging from the current situation The total sales in 2017 will exceed 36 billion euros." Investment Casting also can be called "precise casting" or [lost wax casting" or "dewaxing casting". The casting materials can widely use and no limitation for product shape as well as complex structure. The most important characteristic is the close tolerances control, reduced machining allowances, and fine surface finish.
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R&D spending increases, ZF's profit for the first half of 2017 still increases year-on-year
ZF Friedrichshafen AG (ZF Friedrichshafen AG) 2017 first half sales and profit margins further improved. Sales increased to 18.3 billion euros, and adjusted EBIT increased to 1.2 billion euros. Despite increased investment in R&D, ZF's adjusted EBIT margin has increased to 6.6%. At the same time, ZF’s debt due to the acquisition of TRW was reduced by approximately 684 million euros.
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