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 yearoveryear 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.
"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.
"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.
