Sales of automotive suppliers stagnated while profit dropped 40%

Sales at the 15 largest automotive suppliers in Slovakia stagnated at €12.6bn last year, while cumulative net profit dropped 40% to €185m. The largest supplier, Schaeffler, cut its workforce by 800 to 7,000 across two plants. LG’s lighting unit ZKW posted the highest losses, €190m over the past two years. Its sales rose from €200m to €600m between 2020 and 2024. Canadian firm Magna’s plants are also reporting losses despite increased sales, adding 270 workers to reach 2,300 last year. On a brighter note, local producers Mobis and ZF are planning major expansions. Tire maker Continental posted a steep drop, with profits down from €310m to €215m and sales from €2bn to €1.8bn, although its headcount remained above 5,000.

(dennikN.sk)