2012 a record year for Continental
Continental AG reports that 2012 was another record year for the automotive supplier. Despite slumping auto markets in Europe, the corporation reports in preliminary figures that it boosted 2012 sales by more than 7 per cent to approximately 32.7 billion euros. At around 10.7 per cent, the adjusted EBIT margin topped the previous year's figure of 10.1 per cent.
“Although indicators on the auto markets are more guarded at present than they were a year ago, we are aiming for sales growth of around 5 per cent to more than 34 billion euros in 2013. The adjusted EBIT margin is expected to remain above 10 per cent,” said Dr. Elmar Degenhart, chairman of the Executive Board of Continental in initial key figures published at the Detroit Auto Show in the US on 14 January.
“In 2013, we expect global production of passenger cars with a gross weight of up to six tons to increase from around 80 million units in 2012 to a mere 82 million. There is, however, still a great deal of uncertainty regarding the course of passenger car production and other of Continental’s key sales markets,” commented Degenhart, adding: “We shall very likely not quite be able to hold to our tempo in the successful year 2012. To be sure, we already came very close to meeting many of our medium-term financial targets in 2012. In any event, we shall further reduce our indebtedness in the current year.”