Continental Clearly Back in the Black in Q1 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
"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 yearoveryear 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.
About Continental Reifen Deutschland GmbH
With sales of approximately €20 billion in 2009 Continental is among the leading automotive suppliers worldwide. As a supplier of brake systems, systems and components for powertrains and chassis, instrumentation, infotainment solutions, vehicle electronics, tires and technical elastomers, Continental contributes enhanced driving safety and global climate protection. Continental is also a competent partner in networked automobile communication. Continental currently employs approximately 138,000 in 46 countries.