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Continental Clearly Back in the Black in Q1 2010

Apr 28, 2010

  • Corporation presents key figures at Annual Shareholders’ Meeting
  • Sales total nearly €6 billion, corresponding to a year-over-year increase of €1.7 billion
  • Automotive supplier generates EBIT exceeding €490 million

Hanover, April 28, 2010. The Continental Corporation put its efficient positioning to the test again in the first quarter of 2010, generating clearly positive figures once again. At €494 mil­lion, its reported EBIT was more than €650 million higher than the comparative figure for the previous year’s quarter, which, however, marked the lowest point of the industry crisis. In the first three months, consolidated sales rose year-over-year by €1.7 billion to around €6 billion. The international automotive supplier presented these key figures on the occasion of its An­nual Shareholders’ Meeting in Hanover on Wednesday.

Here you can download the press release as a doc-file.

“In the first three months of 2010, our business continued to stabilize substantially. Sales and EBIT form a very firm basis for us to achieve the corporate goals we have set for 2010, al­though it is not yet possible to say how the European automotive industry will develop in the second half of the year,” said the chairman of Continental’s Executive Board, Dr. Elmar Degenhart. “We can confirm the forecast we made at the beginning of the year for a mini­mum 5% growth in sales. If the development on the markets continues to be as positive as it has been so far, we even have a chance of increasing sales by as much as 10%. At the same time, we will improve our adjusted EBIT year-over-year significantly.”

In the first quarter the Automotive Group generated sales of approximately €3.8 billion and reported EBIT of €182 million. The Rubber Group recorded sales of some €2.2 billion and reported EBIT of €313 million.

The complete report on the first quarter of 2010 will be published on May 4.

Dr. Felix Gress

Senior Vice President

Corporate Communications

Continental AG

Vahrenwalder Strasse 9

30165 Hanover, Germany

Phone: +49 511 938-1485

Fax: +49 511 938-1055

E-mail: prkonzern@conti.de

             

Hannes Boekhoff

Vice President

Media Relations

Continental AG

Vahrenwalder Strasse 9

30165 Hanover, Germany

Phone: +49 511 938-1278

Fax: +49 511 938-1055

E-mail: prkonzern@conti.de