Continental Q1 2015 sales up 14% to €9.6 billion
While Continental will present its figures for the first quarter of 2015 on Thursday, the company has already published some details of what it calls a “positive start” to the year. In the three months to 31 January, the tyre maker and automotive supplier’s sales rose 14 per cent year-on-year to around €9.6 billion. Adjusted EBIT increased to approximately €1 billion. Integration costs and one-time expenses for Veyance of €37 million had a negative effect on the company results in the first quarter.
“Given the still only sluggish development in our sales markets, the start to the current year was very encouraging. We anticipate that the replacement tyre market in Europe will improve in the quarters ahead. As a result of the positive development in new registrations particularly in Western Europe, we also expect an increase in the number of passenger cars produced. Accordingly, our sales and earnings will also continue to improve in the coming quarters,” commented Continental CEO Dr. Elmar Degenhart.