ZF's 2017 net profit increases 26.3% y/y to USD1.4 billion

Company forecasts full-year sales of EUR36.5 billion in 2018

ZF’s net profit increased 26.3% year-over-year (y/y) to EUR1.16 billion in the financial year ended 31 December 2017, the Germany-based automotive supplier said in a press release. The company’s EBIT for the year increased 5.5% y/y to EUR1.8 billion. ZF attributed higher profit during the financial year to 3.6% y/y increase in sales to EUR36.44 billion. The company’s organic sales, after adjusting currency impacts and merger and acquisition (M&A) activities, increased 6% y/y. ZF recorded adjusted EBIT of EUR2.33 billion, up 4.5% y/y.