Retail

Continental's financial preview: Sales up in 1Q

Posted on April 30, 2015

In a preview of its first quarter earnings, Continental Corp. is reporting an increase in sales of 14%, to about 9.6 billion euros, compared to the first quarter of 2014.

The company provided the sales figure April 30, 2015, as part of its annual shareholders meeting. Continental will present its figures for the first quarter of 2015 on May 7.

“Given the still only sluggish development in our sales markets, the start to the current year was very encouraging,” says Elmar Degenhart, Continental’s CEO. “We anticipate that the replacement tire market in Europe will improve in the quarters ahead. As a result of the positive development in new registrations particularly in Western Europe, we also expect an increase in the number of passenger cars produced. Accordingly, our sales and earnings will also continue to improve in the coming quarters.”

Adjusted EBIT rose to around 1 billion euros. Integration costs and one-time expenses for Veyance Technologies Inc. of 37 million euros had a negative effect on the company results in the first quarter, the company said.

During Degenhart’s remarks to shareholders, he said the company expects to see global demand for replacement passenger and light truck tires to increase 3%, to more than 1.1 billion units, in 2015.

He also noted the company has expanded its Best Drive network, adding more than 700 dealers and improving access to France, Spain, Poland, China and the U.S.

To read Degenhart’s full speech, click here.

For more information on Continental, visit www.conti-online.com.

Related Topics: Continental financials, Elmar Degenhart

Comments ( 0 )
More Stories
"Sumitomo Rubber is not aware of any U.S. tire manufacturers advocating for the imposition of tariffs under Section 232," said Smallwood.
News Tariffs on Auto Parts Will Be Harmful, Says Sumitomo's Smallwood

The United States Department of Commerce hosted a government hearing on the Section 232 National Security Investigation of Imports of Automobiles and Automotive Parts on Thursday, July 19, 2018. One tire industry executive made sure his voice was heard.

In honor of Fel-Pro’s 100th anniversary, the Fel-Pro team designed a special head gasket as a symbol of the firm’s milestone. TV celebrity and working-man’s spokesman Mike Rowe holds a laser-cut core for the special MLS gasket.
News Federal-Mogul Motorparts Celebrates 100th Anniversary of Fel-Pro Gaskets Brand

Fel-Pro Gaskets turned 100 years old in 2018 and the milestone was commemorated with customer promotions and other activities spanning several months.

The Epicor ISE solution enables users to write comprehensive, accurate repair estimates and identify, price, and source replacement parts in a fraction of the time normally required through manual processes. Photo courtesy of www.godsgarage.com.
News Epicor Donates Service Estimating Solution to God's Garage

Epicor Software Corp. has awarded a free subscription of its Epicor Integrated Service Estimator (ISE) mechanical service estimating solution to God’s Garage, a non-profit automotive repair shop headquartered in Conroe, Texas.

Be the First to Know

Get the latest news and most popular articles from MTD delivered straight to your inbox. Stay on top of the tire industry and don't miss a thing!