Continental Achieves 3Q EBIT of 413.4 million euros

29th October 2009 | 0 Comments
 
Continental Achieves 3Q EBIT of 413.4 million euros

Continental AG’s Rubber Group led the way in total group pre-tax profits (EBIT) of 413.4 million euros in the third quarter of 2009, with EBIT for the first nine months of this financial year totalling 662.1 million euros. The impressive profits, made from group sales of 5.337 billion euros in the third quarter (third quarter 2008: 5.892 billion euros) are widely seen as opening the door for Continental’s previously discussed 1 billion euro capital increase/ refinancing negotiations – “to be concluded no later than end of 1st quarter of 2010.” However, it wasn’t all good news and special effects of around 1.36 billion, and in particular a goodwill impairment of 875.8 million in the Automotive Group cannot be ignored.

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