Mexican Media Brands
Continental’s Sales Dip 3%, Earnings Drop 9%
Continental AG posted a net profit of €441 million in the first quarter of this year compared to €483 million a year earlier.
#economics
Share
Continental AG posted a net profit of €441 million in the first quarter of this year compared to €483 million a year earlier. Revenue slipped to €8 billion from last year's record-high €8.3 billion.
Earnings before interest and taxes fell 5% to €747 million, partly because of high R&D costs. EBIT adjusted to exclude one-time items dropped 10% to €796 million 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 and a return on adjusted EBIT of more than 10%.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
What Suppliers Need to Know Right Now
This is a time of reckoning for the auto industry, says Paul Eichenberg. He has some recommendations as to how companies can make their way through it.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.