Conti Predicts 25 billion euro Sales; 9% EBIT in FY10
The Continental Corporation is predicting it will achieve sales of more than 25 billion euros and an adjusted pre-tax profit margin (EBIT) of 9 per cent when it publishes full year financial results for 2010. The margin target had previously been 8 – 8.5 per cent. Continental released the projections in parallel with its third quarter results which show that the automotive supplier posted sales of 19.1 billion euros and an adjusted EBIT of 1.79 billion euros after three quarters, exceeding the pre-crisis level of the first three quarters of 2008. At 9.4 per cent, the nine-month adjusted EBIT margin also exceeded the comparable 2008 level.