Source : EuropeanMarkets
Chairman of Continental’s Executive Board, Dr. Elmar Degenhart commented :
“For the year as a whole, we still anticipate sales of more than €39 billion. The outlook for the end of the year makes us optimistic about achieving an adjusted EBIT margin of more than 11 percent, after we had previously anticipated around 11 percent. Based on the positive business performance, we are also raising our outlook for free cash flow before acquisitions from its previous level of at least €1.8 billion to more than €2 billion.
Overall, we can look back at a solid third quarter in a difficult environment. We compensated for both the slower growth in passenger-car production in China and the decline in industrial business with steady growth in Europe and North America”
Financial highlights first three quarters 2015
The automotive supplier is also benefiting from a rising proportion of vehicles being equipped with state-of-the-art electronics.
Sales of the international automotive supplier, tire manufacturer, and industry partner rose by 14.2 percent year-on-year to €29.2 billion in the first three quarters of 2015. Before changes in the scope of consolidation and exchange rate effects, sales rose by 3.3 percent.
At the same time, net income attributable to the shareholders of the parent grew by 15.9 percent to €2.1 billion. Accordingly, earnings per share rose to €10.42 after €8.99 in the same period of the previous year.
As at September 30, 2015, EBIT increased by 30.6 percent year-on-year to €3.2 billion. This equates to an EBIT margin of 10.9 percent after 9.6 percent in the previous year. Adjusted EBIT climbed by 15.6 percent compared to the same period of 2014 to €3.4 billion. The adjusted EBIT margin was 12.0 percent after 11.4 percent in the previous year.
Source : Press Release Continental AG, Hannover (Germany), November 9, 2015
