Overview
- Adjusted operating profit improved, with adjusted EBIT rising to about €1.75 billion from roughly €1.47 billion.
- Net debt stands at €10.2 billion as the equity ratio fell to around 13.3%, despite a €250 million reduction in financial liabilities.
- Group revenue declined about 6% to €38.8 billion in 2025, and management guides for roughly €38 billion in 2026 with no demand rebound expected.
- ZF plans to cut up to 14,000 jobs in Germany, with headcount down about 5% to 153,153 worldwide and a little over 49,000 in Germany by year‑end 2025.
- Management links the reset to slower EV adoption and broader pressures including U.S. import tariffs, supply chain strains and growing low‑cost competition from China.