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
News Cooper to Open New Distribution Center in Mississippi

Cooper Tire & Rubber Co. will open a new 1-million-square-foot warehouse in Byhalia, Miss. The site is expected to open in the fall of 2018.  

News Vogue Recalls 1,203 Tires With Incomplete TIN

Vogue Tyre & Rubber Co. is recalling 1,203 tires that do not have the complete tire identification number (TIN) on their outboard sidewalls.  

Louis Gomez of Prescott (Ariz.) Tire Pros & Automotive Service, and his wife, Angela, received the Tire Pros Excellence in Engagement Award from Bob Bittner, left, and Quick Chadwick, right.
News Tire Pros Develops a Playbook to Guide its Franchisees

Tire Pros Francorp. is "dealer-driven." That differentiates the franchise program from similar programs, says Ron Sinclair, senior vice president of retail strategy and partnerships for its parent company, American Tire Distributors Inc.

Menegaux has a degree in finance, management and economics, and is currently a member of Michelin Group's executive committee.
News Florent Menegaux Will Take Over as Michelin CEO in Mid-2019

Michelin Group has lined up a replacement for Jean-Dominique Senard, who doesn't want to extend his term as CEO of the tire company past its current expiration date — the end of the 2019 annual shareholders meeting.  

European tire journalist Mike Scanlon died in mid-January.
News Retired European Tire Journalist, Mike Scanlon, Has Died

Mike Scanlon, retired publisher and managing editor of European Tyre Trade News magazine, one of the UK’s leading publications, has died.

Article ‘Go Online,’ They Said, ‘It’s Easier’: We’re Caught in the Transformational Global Vortex

One out of 10 retail transactions takes place in a brick-and-mortar location. Wayne Williams says that means independent tire dealers need to redefine and refine their in-store experience.

Article Legislative Issues in 2018: Here are the Top 5, Healthcare Among Them

The legislative landscape is unpredictable, to say the least. There are too many political agendas being promoted to forecast what will and won’t get done on your behalf, at least on the national level.

News GfK's U.S. Tire Panel: Winter Tire Sales at Retail Stores Drop 26%

Initial data from GfK Group’s tire retail panel in the U.S. shows a 5.6% decline in store sales year over year, with a 26% drop in purchases of winter tires.

News Goodyear's Earnings Fall by Double Digits in 2017

Although sales were up, Goodyear Tire & Rubber Co.’s year-over-year earnings dropped 72% in 2017 and segment operating income fell 23%. The company attributed a net loss in 2017's fourth quarter to tax reform.

News Tire Factory Opened 20 Point S Locations in the U.S. in 2017

In addition to working on the eastern expansion of the Point S brand in the U.S., Tire Factory Inc. has continued to build up the foundation of its cooperative in western states, adding 20 locations in 11 states in 2017.  

The Grabber A/TX includes a 50,000 mile limited tread wear warranty on LT metric and flotation sizes, and a 60,000-mile warranty on P-metric sizes.
News New General Tires Offer UHP Precision and All-Terrain Toughness

The General brand from Continental Tire the Americas LLC is making a big splash in early 2018 with two new products – its first designed for the ultra-high performance summer tire segment, and an update to the brand’s benchmark all-terrain tire.  

News Getting Greener: Bridgestone Strengthens Global Procurement Policy

Bridgestone Corp. has released a new Global Sustainable Procurement Policy to help identify and evaluate qualified suppliers, promote best practices, and serve as a communication and improvement tool for the industry.

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!