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February 1, 2023

Continental AG estimates turnover of over EUR 25 bln

Continental AG, producer of tires and auto parts, is gradually recovering and regaining the power it once had. ‘Through a high degree of efficiency we managed to exploit the impulse given by the conjunctural reinvigoration and by the strong growth in Asia,” Elmar Degenhart, director of Continental’s Executive Committee, stated. When presenting its financial report after nine months Continental announced that in 2010 it will report a turnover of more than EUR 25 bln, a press communiqué informs. At the same time the international auto industry supplier is raising its target for the entire financial exercise after three quarters from the current margin of 8-8.5 per cent to approximately 9 per cent. After three quarters Continental reported a turnover of EUR 19.1 bln and an adjusted EBIT of EUR 1.79 bln. These values surpassed the levels reported in the first three quarters of 2008, before the crisis. During the first nine months of 2010 the concern’s turnover grew, compared to the same period last year, by 32.9 per cent to EUR 19,144.2 M. Continental AG has two plants in Romania – one in Sibiu, the other in Timisoara – plus the ContiTech division that produces pipes for auto air conditioning systems, power transmission belts and cooling hoses.

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