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German auto supplier ZF says on track to reach 2016 margin target
January 9, 2017 / 1:29 PM / 8 months ago

German auto supplier ZF says on track to reach 2016 margin target

FRANKFURT, Jan 9 (Reuters) - German auto supplier ZF Friedrichshafen has achieved its full-year sales and operating margin targets, Chief Executive Stefan Sommer said in Detroit on Monday.

“Sommer said that he assumed that ZF had achieved its sales and earnings targets,” a company spokesman told Reuters in an e-mail.

ZF had targeted sales of around 35 billion euros ($36.81 billion) in 2016 and was aiming for an adjusted earnings before interest and taxes (EBIT) margin of approximately 6 percent.

ZF is scheduled to present its 2016 business figures in detail in Friedrichshafen on March 30.

$1 = 0.9509 euros Reporting by Edward Taylor; editing by Jason Neely

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