09.01.2017
Continental AG DE0005439004
DGAP-News: Annual Targets Comfortably Achieved: Continental Continues Its Growth
DGAP-News: Continental AG / Key word(s): Preliminary Results/Forecast
Annual Targets Comfortably Achieved: Continental Continues Its Growth
09.01.2017 / 08:30
The issuer is solely responsible for the content of this announcement.
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- Preliminary key data for fiscal 2016 published
- Strong sales and earnings in fourth quarter as expected
- Organic sales growth of around 4,5% percent to around EUR40.5 billion
in 2016
- Adjusted EBIT margin of around 10.7 percent generated
- Incoming orders up again
- Outlook for 2017: Increase in sales of more than 6 percent to over
EUR43 billion
Hanover, January 9, 2017. The international technology company Continental
can look back at a successful conclusion to fiscal 2016. With an increase
of reported sales of 3 percent year-on-year to around EUR40.5 billion and
an adjusted EBIT margin of around 10.7 percent, the company comfortably
achieved its annual targets as adjusted in October 2016. In spite of
several isolated circumstances that had a negative impact on earnings in
the past fiscal year, net income slightly exceeded the previous year's
level.
As expected, the fourth quarter of the past fiscal year saw strong sales
and earnings. This was attributable partly to the growth of the Automotive
Group as well as to winter tire business, which exceeded the strong sales
volume of the same period of the previous year.
"We continued our growth once again in 2016. In the Rubber Group, we sold a
record 150 million tires. Despite persistently weak demand in the oil and
mining business, ContiTech's EBIT margin almost reached the double-digit
level at the end of the year, thus significantly exceeding the previous
year's figure. In the Automotive Group, we increased incoming orders by 10
percent to more than EUR33 billion in 2016. In addition to orders for
advanced driver assistance products, which rose to more than EUR3 billion,
orders for products and systems for hybrid and electric vehicles climbed by
17 percent to EUR1.2 billion as well," said Executive Board Chairman Dr.
Elmar Degenhart on Monday when presenting the preliminary key data during
the North American International Auto Show in Detroit, Michigan, U.S.A.
"For 2017, we are anticipating an increase in sales of over 6 percent to
more than EUR43 billion. Our target is to comfortably achieve an adjusted
EBIT margin of more than 10.5 percent. In this context, we are anticipating
a slight increase in global production of passenger cars and light
commercial vehicles with a total weight of up to six metric tons of 1
percent from 92 million vehicles to around 93 million," added Degenhart.
Continental will release its preliminary business figures on March 2, 2017,
as part of its digital annual financial press conference
Continental develops intelligent technologies for transporting people and
their goods. As a reliable partner, the international automotive supplier,
tire manufacturer, and industrial partner provides sustainable, safe,
comfortable, individual, and affordable solutions. In 2016, the corporation
generated sales of around EUR40.5 billion with its five divisions, Chassis
& Safety, Interior, Powertrain, Tire, and ContiTech. Continental currently
employs more than 220,000 people in 55 countries.
Contact for journalists
Henry Schniewind
Spokesman, Business & Finance
Continental AG
Phone: +49 511 938-1278
Cell: +49 151 688 64 262
E-mail: [email protected]
Vincent Charles
Head of Media Relations
Continental AG
Phone: +49 511 938-1364
Cell: +49 173 314 50 96
E-mail: [email protected]
The press release is available in the following languages: German, English
Links
Press portal: www.continental-press.com
Financial reports: www.continental-ir.com
Video portal: http://videoportal.continental-corporation.com
Online media database: www.mediacenter.continental-corporation.com
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09.01.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Continental AG
Vahrenwalder Straße 9
30165 Hannover
Germany
Phone: +49 (0)511 938-1068
Fax: +49 (0)511 938-1080
E-mail: [email protected]
Internet: www.conti.de
ISIN: DE0005439004
WKN: 543900
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg,
Hanover, Stuttgart; Regulated Unofficial Market in Berlin,
Dusseldorf, Munich, Tradegate Exchange; Luxemburg, SIX
End of News DGAP News Service
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