Continental Posts Further Growth in 2013 and Exceeds Target for Adjusted EBIT
- International Automotive supplier publishes provisional key figures for fiscal 2013
- Sales climb to around €33.3 billion despite substantial negative exchange rate effects
- Outlook for 2014: Sales increase of around 5% targeted
With an adjusted EBIT margin of 11.2%, the Continental Corporation significantly exceeded its target for fiscal 2013. Sales of the international automotive supplier, tire manufacturer, and industry partner increased slightly year-on-year to approximately €33.3 billion in 2013.
"Our strong commitment has paid off: We were able to more than offset the economic limitations in Southern Europe and some emerging markets. Our success was achieved in spite of considerable negative exchange rate effects due to the strong euro, which amounted to over €700 million. The adjusted EBIT of €3.7 billion represents an extremely strong performance by the whole Continental team. In 2013 we therefore achieved an impressive continuation of the successful path we have been pursuing for years," said Continental's CEO Dr. Elmar Degenhart at the announcement of the provisional key figures on Monday during the Auto Show in Detroit, U.S.A.
"In 2014, we expect global production of cars with a total weight of up to six metric tons to increase from around 83 million units in 2013 to more than 85 million units. We want to grow faster than the global passenger car market and are aiming to increase sales by around 5% to approximately €35 billion. At the same time, we want to comfortably achieve a double-digit adjusted EBIT margin," stated Degenhart.
Continental will present the provisional business figures on March 6, 2014, in Frankfurt/Main.
Continental Reifen Deutschland GmbH
With provisional sales of around €33.3 billion in 2013, 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 more than 177,000 employees in 46 countries.