Tag: Elmar Degenhart

Continental: Tyre division growth behind group average in Q1-3 2017

Thursday 9th November 2017 | 0 Comments

The word Continental has used to describe its sales growth in the nine months to 30 September 2017 is “strong”. Sales rose 9.0 per cent during the period to 32.7 billion euros, a result Executive Board chairman Dr Elmar Degenhart attributes to putting “money on the right horses with our technologies for safe, efficient and intelligent mobility.”

Continue Reading

Continental net income down: Raw material costs deflate tyre-related earnings

Continental net income down: Raw material costs deflate tyre-related earnings

Thursday 3rd August 2017 | 0 Comments

Although sales rose, sharp increases in raw material costs held back earnings within Continental’s Tire and ContiTech divisions in the first half of 2017. Reporting the company’s first half and second quarter results, Executive Board chairman Dr Elmar Degenhart shared that despite a 9.4 per cent year-on-year increase in sales during the six months to 30 June, to 8.6 billion euros, these costs impacted the Continental Rubber Group’s earnings by some 300 million euros. Rubber Group EBIT dropped 11.2 per cent to 1.2 billion euros in the first half of the year and the margin contracted from 17.7 per cent to 14.4 per cent.

Continue Reading

Continental to present diesel technologies at IAA

Continental to present diesel technologies at IAA

Thursday 22nd June 2017 | 0 Comments

Rhetoric coming from some corners would have us believe that diesel cars are evil and electric vehicles are the way, the truth and the light. Yet the humble diesel and its petrol-driven cousin aren’t finished yet. Not by a long way. Growing global demand for mobility will see internal combustion engines remain with us for some time to come, hopefully long enough for the champions of electromobility to overcome the technology’s current drawbacks.

Continue Reading

Design chosen for Continental’s new headquarters

Design chosen for Continental’s new headquarters

Wednesday 7th June 2017 | 0 Comments

Continental has selected an architectural partner for the construction of its new corporate headquarters in Hannover, Germany. The tyre and technology company will work with Munich-based firm Henn GmbH. A panel of ten judges selected Henn from a shortlist of three finalists.

Continue Reading

Continental: Net income up 2.1% despite higher in raw material costs

Tuesday 9th May 2017 | 0 Comments

Tyre maker and automotive systems supplier Continental AG has reported sales of €11.0 billion in the first quarter of 2017, a 11.7 per cent increase year-on-year. Organic sales growth came to 9.5 per cent. At the same time, net income attributable to the shareholders of the parent rose by 2.1 per cent to €749.6 million, or €3.75 per share. This overall positive bottom line result was achieved in spite of increased raw material prices; Continental also expects to see rising raw material prices in the second quarter of the year.

Continue Reading

Continental Q1 2017 sales up 11.7% to €11 billion

Friday 28th April 2017 | 0 Comments

Although Continental AG won’t publish its full first quarter business figures until 9 May, key data for the three months to 31 March 2017 were released during the company’s Annual Shareholders’ Meeting today. Sales amounted to €11 billion during the quarter, a 11.7 per cent increase year-on-year. Organic growth, adjusted for changes in the scope of consolidation and exchange rates, amounted to 9.5 per cent, to which the Automotive Group’s business made a considerable contribution. The adjusted operating result (adjusted EBIT) increased to around €1.2 billion, while the adjusted EBIT margin was 10.7 per cent.

Continue Reading

Continental to continue investing in China

Continental to continue investing in China

Friday 21st April 2017 | 0 Comments

During the Continental AG press conference at the Auto Shanghai show in China, chief executive officer Dr Elmar Degenhart confirmed that the company intends to continue investing in China “at a comparable level” to recent years. Continental has invested €1.3 billion in the country over the past half a decade. Degenhart also commented that Continental anticipates its sales will grow at a faster rate than the market in China, particularly in the field of mobility services.

Continue Reading

Tang replacing Cramer at Continental’s helm in China

Tang replacing Cramer at Continental’s helm in China

Wednesday 19th April 2017 | 0 Comments

A change of leadership will occur within Continental’s business in China in June. On the first of the month, Enno Tang will become president of the Continental organisation for China. The current head of the Chassis & Safety division, China, and the Vehicle Dynamics business unit, China replaces Dr Ralf Cramer, who will conclude his contract as planned by mid-August 2017 and pursue new career opportunities outside of Continental. In his new role, Tang will report to the chairman of Continental AG’s Executive Board, Dr Elmar Degenhart.

Continue Reading

Sales of €40.5 billion, record tyre volumes – Continental announces 2016 results

Monday 6th March 2017 | 0 Comments

Continental AG reports achieving annual sales of €40.55 billion in 2016, a year-on-year increase of 3.6 per cent. Adjusted EBIT amounted to €4.34 billion, 0.6 per cent lower than a year earlier, while the adjusted EBIT margin was also slightly down, at 10.8 per cent. Profit after tax rose 2.6 per cent to €2.80 billion; earnings per share were €14.01.

Continue Reading

Continental “comfortably achieves” 2016 targets

Monday 9th January 2017 | 0 Comments

Key preliminary data for Continental’s 2016 financial year has been published, and this shows an increase in both sales and EBIT margin. Reported sales rose three per cent year-on-year to around €40.5 billion, and adjusted EBIT margin amounted to some 10.7 per cent. Upon announcing these results today, Continental wrote that the company “comfortably achieved” its annual targets as adjusted in October 2016.

Continue Reading

Continental renews HR head Reinhart’s contract

Continental renews HR head Reinhart’s contract

Thursday 15th December 2016 | 0 Comments

At its meeting on 13 December, the Continental AG Supervisory Board approved a five-year contract extension for Dr Ariane Reinhart, the company’s head of human resources and labour relations. Her tenure in the role is now secure up to September 2022.

Continue Reading

Automotive Group drags down Continental’s Q3 2016 earnings

Tuesday 15th November 2016 | 0 Comments

While Continental achieved moderate sales growth in the third quarter of 2016, the company reports that “several isolated and unrelated circumstances” in its Automotive divisions had a “negative impact on earnings.”

Continue Reading

H1 2016 results: Continental lifts full-year EBIT forecast

H1 2016 results: Continental lifts full-year EBIT forecast

Wednesday 3rd August 2016 | 0 Comments

Germany’s Continental AG reported its financial results for the first half of 2016 this morning and, thanks to what the tyre maker and automotive systems supplier calls “excellent operating performance” within its Rubber Group, has raised its earnings forecast for the current fiscal year.

Continue Reading

Conti CEO: Brexit vote “very worrying”

Conti CEO: Brexit vote “very worrying”

Friday 24th June 2016 | 0 Comments

Leading tyre manufacturers have begun offering their responses to the UK electorate’s decision to leave the EU. Describing the trajectory of the Brexit vote as “very worrying”, Continental AG CEO Dr Elmer Degenhart commented: “Taking the pan-European context into account the vote is very worrying. ‘Everyone on his own’ does not fit the idea behind the formation of the EU and cannot be the answer to the challenges of the global competition with America and Asia.” However, Degenhart does not expect big problems for Continental itself: “The direct economic impact on Continental is expected to be limited because currently we generate less than 3 per cent of our sales in the UK and expect to be successful in this market also in the future.”

Continue Reading

Continental signs MoU for new headquarters site in Hannover

Continental signs MoU for new headquarters site in Hannover

Wednesday 15th June 2016 | 0 Comments

In recent months Continental AG has been evaluating potential sites for its new headquarters, and has examined plots in Hannover and the nearby town of Garbsen. The company now shares that it is favouring the location near the ‘Pferdeturm’ in Hannover as the site for its future headquarters. Continental says it has officially entered concrete, detailed negotiations to this end with the city of Hannover.

Continue Reading