Continental Realizes Sales of over EUR 25.5 Billion
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Press release date: January 11, 2011
o Adjusted* EBIT margin for fiscal 2010 around 9.5 percent
HANOVER, Germany, Jan. 11, 2011 - Similar to the preceding quarters the Continental Corporation was able in the 4th quarter of 2010 again to benefit from the momentum in the rebounding auto industry. "On the wings of better-than-expected business in the last three months of the year, we realized sales of over EUR 25.5 billion in 2010. And despite an additional year-on-year cost burden in the Rubber Group of approximately EUR 480 million due to the fact that raw material prices were at a record high in 2010, the adjusted* EBIT margin of the Corporation for the whole year 2010 will work out to around 9.5 percent," said Dr. Elmar Degenhart, chairman of the Executive Board of the international automotive supplier, at the North American International Auto Show in Detroit on Tuesday.
He pointed out that the adjusted* EBIT of the Powertrain division was above the breakeven point both in the fourth quarter and for the entire fiscal year. This means that a key intermediate goal of this division has been met a year earlier than planned. With more than 20 million units sold, the Passenger and Light Truck Tires division set a new record for winter tire unit sales in 2010. The corporation will announce the final figures for the fourth quarter as well as for all of fiscal 2010 at the annual financial press conference in Frankfurt on March 3, 2011.
* Before amortization of intangible assets from PPA, changes in the scope of consolidation, and special effects.
With annual sales of more than EUR 25.5 billion for 2010, 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 a competent partner in networked automobile communication. Continental currently employs approximately 149,000 in 46 countries.
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SOURCE Continental AG
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