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27.04.2018 - 08:31

DGAP-News: Weak Markets, Strong Continental: Year Starts off with Solid Growth



DGAP-News: Continental AG / Key word(s): Quarter Results/Preliminary Results


Weak Markets, Strong Continental: Year Starts off with Solid Growth


27.04.2018 / 08:31



The issuer is solely responsible for the content of this announcement.



- Technology company publishes key data at its Annual Shareholders' Meeting

- Organic growth of 4.3 percent in the first quarter substantially higher than growth of the relevant markets

- Order intake Automotive of EUR11 billion at record level after three months

- Consolidated sales of EUR11.0 billion and adjusted operating result (adjusted EBIT) of EUR1.1 billion impacted predominantly by exchange-rate effects



Hanover, April 27, 2018. The technology company Continental started off the year with solid growth despite the challenging environment. Organic sales growth, which is adjusted for exchange-rate and consolidation effects, was 4.3 percent. Despite negative exchange-rate effects amounting to EUR546 million, consolidated sales in the first quarter, at EUR11.0 billion, were up slightly year-on-year.



"As expected, we have started off the new business year with solid growth. This was substantiated by our strong organic growth of 4.3 percent. It was once again considerably higher than the growth of the relevant markets, which declined during the same period. It demonstrates our substantial operational strength, with which we can resolutely assert ourselves in such a challenging environment like the one we experienced in the first quarter," Continental CEO Dr. Elmar Degenhart explained while presenting the key data for the first quarter of 2018 at the Annual Shareholders' Meeting on Friday in Hanover.



At the global level, vehicle production and the replacement market for passenger tires were both down slightly by 1 percent in the reporting period. In this weak market environment, the Automotive Group, with organic growth of 5.5 percent, once again outpaced global light vehicle production by roughly 7 percentage points.



This growth strength is reflected in the order intake. "Our consistently high level of order intake in the Automotive Group is proof of the high degree of confidence our customers have in our technology portfolio. They ordered innovative products and systems totaling EUR11 billion, an increase of 15 percent compared with the same period of the previous year. With this, we have again set a new record."



































Continental Corporation January 1 to March 31
EUR million 2018 2017   Changes in %
Sales 11,012.7 10,999.9   + 0.1
EBIT 1,019.2 1,135.1   -10.2
in % of sales 9.3 10.3   -
Adjusted operating result (adjusted EBIT)1 1,058.9 1,163.9   -9.0
in % of adjusted sales 9.7 10.6   -

1 Before amortization of intangible assets from purchase price allocation (PPA), changes in the scope of consolidation, and special effects.



The adjusted operating result (adjusted EBIT) of the automotive supplier, tire manufacturer and industrial partner was about EUR1.1 billion in the reporting period. This corresponds to an adjusted EBIT margin of 9.7 percent. As already announced in the mandatory notification on April 18, 2018, the results were impacted particularly by exchange-rate effects and was thus about EUR100 million lower in the first quarter 2018 than in the same period of the previous year. Continental is expecting an adjusted EBIT margin of over 10 percent for the year as a whole.



For the current fiscal year, Continental believes that negative exchange-rate effects totaling more than EUR1 billion may impact sales, should the current exchange rates represent the average for 2018 overall.



Continental will present its business figures for the first quarter of 2018 on May 8, 2018.

 



Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transportation. In 2017, Continental generated sales of around EUR44 billion and currently employs more than 240,000 people in 61 countries.


Press contact



Henry Schniewind

Spokesman, Business & Finance Continental AG

Phone: +49 511 938-1278

Cell: +49 151 688 64 262

E-mail: henry.schniewind@conti.de


Vincent Charles

Head of Media Relations

Continental AG

Phone: +49 511 938-1364

Cell: +49 173 314 50 96

E-mail: vincent.charles@conti.de

 



Links
Press portal: www.continental-press.com
Video portal: http://videoportal.continental-corporation.com
Media database: www.continental.com/media-center



 
















27.04.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



























Language: English
Company: Continental AG

Vahrenwalder Straße 9

30165 Hannover

Germany
Phone: +49 (0)511 938-1068
Fax: +49 (0)511 938-1080
E-mail: ir@conti.de
Internet: www.conti.de
ISIN: DE0005439004
WKN: 543900
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg, Hanover, Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Tradegate Exchange; Luxemburg, SIX





 
End of News DGAP News Service





680117  27.04.2018 



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