Continental: Growth in sales, income in 2017
Preliminary figures for Continental’s 2017 financial year were presented today and show an 8.5 per cent growth in sales, to 44 billion euros, and an EBIT margin of 10.9 per cent. With these two figures, the tyre maker and technology provider states that it surpassed its targets for the year. Net income increased 6.5 per cent year-on-year to 3 billion, which equates to earnings of 14.92 euros per share. Dr Elmar Degenhart, chairman of the Continental Executive Board, shares that the board “is proposing to increase the dividend by 25 cents to 4.50 euros, which will be the sixth increase in a row.”
In regards to volumes, Continental produced 155 million passenger and truck tyres in 2017.
Degenhart anticipates continued profitable growth in 2018. Sales at Continental are expected to rise by almost seven per cent to around 47 billion (before exchange rate effects), with an adjusted EBIT margin of around 10.5 per cent. “This is based on growth in the global production of passenger cars and light commercial vehicles of more than one per cent to 96.5 million vehicles.”