The strong growth in the first nine months of 2017 corroborates our sales performance estimate for fiscal 2017. We are therefore confirming our forecast of sales of more than €44 billion, assuming constant exchange rates year-on-year. Translation at current exchange rates gives consolidated sales of around €44 billion for 2017. The continuing positive effect of exchange rates on sales after the first half of the year turned negative to -€65 million after nine months, amounting to -€246 million in the third quarter alone.
We are leaving our sales forecasts for the Automotive Group and the Rubber Group at around €26.5 billion and more than €17 billion respectively, regardless of exchange-rate development in the fourth quarter.
We are adhering to our forecast for the corporation’s adjusted EBITmargin of more than 10.5%. The same is true of the forecast for the adjusted EBIT margins of the Automotive Group and the Rubber Group, which we are leaving at around 8.5% and more than 15% respectively.
For 2017, we are still planning on free cash flow of approximately €2 billion before acquisitions.
2017E as of November 9, 2017 published in the 9M presentation