Continental Employees Worldwide Share in Fiscal 2013 Success

Total amount increases to around €120 million

(PresseBox) ( Hannover, )
The international automotive supplier, tire manufacturer and industrial partner Continental is sharing the company's success with its employees around the world. The company is distributing a record sum of approximately €120 million to its employees for fiscal 2013. The corresponding sum last year was around €100 million.

"With their unwavering commitment, our employees make a significant contribution on a daily basis to creating profitable and sustainable value for our company. We want to reward this commitment. This type of value sharing across national borders and divisions is an example of our "For One Another" corporate value. In contrast to other companies, Continental employees from all around the world share in the company's success, from Shanghai in China to Guarulhos in Brazil and from Gothenburg in Sweden to Port Elizabeth in South Africa," says Elke Strathmann, Continental's Executive Board member for HR.

"Based on a corporate agreement, the employees in Germany are definitively entitled to share in profits for 2013, too. The workforce has made an important contribution to value creation, so it is only right and proper that it should also benefit from the company's financial success! Trainees will receive the same amount as fully qualified employees, part-time staff will participate in line with their working hours, and all employees worldwide will share in the bonus. Here we are assuming a vanguard role in our sector of industry. This is something we can truly be proud of," says Hans Fischl, chairman of the Continental Corporate Works Council.

The company's value contribution provides the basis for the value sharing program. The level of a year's bonus payment depends on the value created in the respective fiscal year. The terms differ from one country to the next and the scheme takes into account both statutory regulations and local purchasing power. On this basis, the bonus varies in amount between €448 and €895 per employee. The Executive Board upped these sums to €475 and €950 respectively. This increase in the calculated amount is voluntary and does not establish any entitlement for the future.

Payment of the bonus is contingent on continuous employment with the company throughout 2013 and a continuing employment relationship as of March 31, 2014.
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