Continental AG believes its total consolidated net sales for the second quarter of 2022 will total 9.4 billion euros.

Sales of the company's Tires group are expected to total 4.3 billion euros for the quarter.

"Related to our operations in Russia, assets worth 75 million were also subject to impairment due to" imposed sanctions, according to Continental officials.

"This is mainly attributable to the Tires group sector."

Continental suspended production at its plant in Russia this past March.