Continental Q1 2017 sales up 11.7% to €11 billion
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.
“Continental made a very good start to the new fiscal year in a volatile environment,” stated Continental Executive Board chairman Dr Elmar Degenhart during his presentation of first quarter key data. “Despite increased raw material costs, all indications are that we will comfortably achieve the ambitious targets we set ourselves for 2017.”