Continental discloses 2009 sales, income
Continental AG achieved sales of 20 billion euros in 2009, a 17.1% decrease from 2008 levels. The company's income for 2009 totaled 1.1 billion euros, a 33.3% drop from previous-year levels.
Continental's Rubber Group, which includes its Continental Tires the Americas LLC division (formerly Continental Tire North America Inc.) achieved sales of around eight billion euros on income of more than one billion euros during 2009.
Despite "the worst financial and economic crisis in decades," Continental has improved its operating base "by means of restructuring programs, which will have an increasingly positive effect," says Dr. Elmar Degenhart, Continental's executive board chairman.
Looking ahead, he believes Continental will achieve sales growth of "at least 5%" in 2010. Income for the Rubber Group "should remain around the same high level as 2009.
"One of our major challenges will be raw material prices, which have again increased considerably."