Mexican Media Brands
Continental Income Drops 9%
Continental AG posted a net profit of €441 million ($578 million) in the first quarter of this year compared to €483 million ($634 million) a year earlier.
#economics
Share
Continental AG posted a net profit of €441 million ($578 million) in the first quarter of this year compared to €483 million ($634 million) a year earlier. Revenue slipped 3% to €8 billion ($10.5 billion).
Earnings before interest and taxes fell 5% to €747 million ($980 million), partly because of high R&D costs. EBIT adjusted to exclude one-time items dropped 10% to €796 million ($1 billion) for a 10% return on sales compared with 10.7% in the January-March period of 2012.
Conti predicts that declining prices for natural and synthetic rubber will boost income at its tiremaking unit in the second half of this year. The company also expects a pick-up in purchases of replacement tires, which were delayed by prolonged cold weather.
Conti reiterates its full-year outlook of a 5% increase in revenue to more than €34 billion ($44.6 billion) and a return on adjusted EBIT of more than 10%.
RELATED CONTENT
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future