Continental Corporation has been boosted by “better-than-expected” trading conditions from a rebounding auto industry in the last three months of the year to post sales EUR25.5bn in 2010.
“On the wings of better-than-expected business in the last three months of the year, we realised sales of over EUR25.5bn in 2010. And despite an additional year-on-year cost burden in the rubber group of approximately EUR480m 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%,” said Elmar Degenhart, chairman of the executive board of the international automotive supplier.
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Speaking at the Detroit show, he said adjusted EBIT of the powertrain division was above the breakeven point both in the fourth quarter and for the entire fiscal year.
Furthermore, with more than 20m units sold, the passenger and light truck tyres division set a new record for winter tyre 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 3 March 2011.
