Continental boosts sales during 1Q
Continental AG posted sales of nearly six billion euros and EBIT of 494 million euros for the first quarter of 2010. The sales figure total represents a gain of 1.7 billion euros vs. 1Q 2009 sales, while EBIT was up more than 650 million from the same period last year.
"In the first three months of 2010, our business continued to stabilize substantially," says Continental Executive Board Chairman Dr. Elmar Degenhart.
"Sales and EBIT form a very firm basis for us to achieve the corporate goals we have set for 2010, althought it is not yet possible to say how the European automotive industry will develop in the second half of the year."
Continental "can confirm the forecast we made at the beginning of the year for a minimum 5% growth in sales. If the development on markets continues to be as positive as it has been so far, we even have a chance of increasing sales by as much as 10%."
Continental's Rubber Group, which includes Continental Tire the Americas LLC, posted record sales of 2.2 billion euros and EBIT of 313 million euros during 1Q 2010.
The Hanvover, Germany-based company will publish its complete first quarter 2010 report on May 4.