Back on the DAX a Year Ago, Continental Now Running with the Bulls
Share price has risen by over 54% in one year /Highest market capitalization in company's history
"This overwhelmingly positive development honors the work of our 175,000 employees. In addition, it demonstrates the trust placed in us by analysts as well as by share and asset investors. This applies to the development of our share prices but also to the successful implementation of our long-term financing strategy in the past four years," added Schäfer.
Following the acquisition of Siemens VDO, Continental strived to achieve a sustained reduction in its financial indebtedness, working to get it down to a normal level in the face of a global economic crisis and changes in its shareholder makeup. "In the past twelve months we have worked on further improving the structure of maturities for our financial debt and on significantly reducing our interest burden. On into the future we shall continue to dedicate ourselves to a trust-anchored relationship with our core banks," declared Schäfer.
The international automotive supplier's stock was first traded on the stock exchange in Hanover in 1873/74. In 1988, the company was then among the founding members of the DAX. Due to insufficiently high market capitalization, it moved to the MDAX in 1996. 2003 saw the first comeback. In December 2008, the fast exit rule put Continental back on the MDAX, again on account of insufficiently high market capitalization.
Four years or so later, at the start of trading on September 24, 2012, the Continental shares were once again being quoted among the highest-selling market-listed German companies. Currently Continental shares are listed on three German stock exchanges: Frankfurt (Prime Standard), Hanover/Hamburg (NISAX), and Stuttgart. Its shares are also traded in the U.S. in the form of a sponsored ADR (American Depositary Receipt) program on the OTC (over the counter) market.
Continental Reifen Deutschland GmbH
With sales of €32.7 billion in 2012, 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 to enhanced driving safety and global climate protection. Continental is also an expert partner in networked automobile communication. Continental currently has approximately 175,000 employees in 46 countries.