Continental says net income attributable to the shareholders of the parent increased by 8.5% in the first nine months of this year to nearly EUR1.6bn (US$2.2bn).

In the first nine months of this year Continental consolidated sales rose by 1.2% year-on-year to around EUR25bn, with the operating result increasing by 4% year-on-year to more than EUR2.5bn as at 30 September.

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This corresponds to a margin of 10.1% after 9.8% in the previous year. The adjusted operating result (adjusted EBIT) increased by 3.1% in the first three quarters as compared to the same period of the previous year and amounted to EUR2.8bn.

“Despite the weaker European automotive market, we continued on our successful path,” said Continental chairman, Elmar Degenhart.

“In the meantime, however, we are experiencing a stabilisation of the business trend in Europe.”

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