Continental AG reported a 34.5% rise in first-quarter operating earnings and said it could beat its 2004 profit guidance if the economic upswing continues.
Go deeper with GlobalData
Reuters noted that Continental recently launched a €227 million- bid for rubber and plastic parts maker Phoenix AG, which will be integrated into its ContiTech division to create a unit with annual revenues of roughly €2.9 billion.
The report said the world’s fourth largest tyre maker beat market expectations with first-quarter earnings before interest and taxes of €246.7 million and reaffirmed a full-year goal to raise sales and operating profit before special items – it said it could top this goal if the economy improved further.
The biggest earnings driver reportedly was the firm’s automotive systems division, which reported a 40.7% rise in operating profit to €115.2 million.
Group net profit rose 48.2% to €129.5 million, while revenues climbed 5.8% to €2.986 billion, Reuters said.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
