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Conti Hikes Sales Forecast as Income Grows 14%
Continental AG's sales in January-March climbed to €9.6 billion from €8.4 billion in the first quarter of 2014.
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Continental AG's sales in January-March climbed to €9.6 billion from €8.4 billion in the first quarter of 2014. Net income rose 12% to €657 million. Adjusted earnings before interest and taxes advanced 10% to €1.1 billion.
Conti now expects its full-year sales to surpass €39 billion, up from a previous revenue forecast of €38.5 billion. The company also predicts its adjusted EBIT will be greater than 10.5% this year.
Free cash flow before acquisitions surged to €318 million from €81 million in last year's first quarter. Conti anticipates full-year free cash flow of at least €1.5 billion.
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