Continental has recorded 2020 sales of EUR37.7bn ( 2019: EUR44.5bn).

Organic sales growth declined by 12.7%, while production of passenger cars and light commercial vehicles decreased by 16% compared to the previous year.

The supplier achieved an adjusted EBIT margin of 3.5% (2019: 7.3%). That corresponds to an adjusted operating result of EUR1.3bn (2019: EUR3.2bn).

“In operational terms, we performed well in 2020 given the circumstances, achieving solid, positive free cash flow in particular,” said Continental CEO, Nikolai Setzer.

“The bottom line is, however, we suffered extensive setbacks with regard to both sales and earnings. We nevertheless finished the past year stronger overall than we had feared in the spring.”

On the basis of assumptions about trends in its markets and industries, Continental anticipates consolidated sales for 2021 of around EUR40.5bn to EUR42.5bn and an adjusted EBIT margin of around 5% to 6%.