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You are here: Home1 / Degenhart

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Continental CEO Degenhart resigns

Career Tracks, Company News

Although his contract has almost another four years to run, Dr Elmar Degenhart has notified Continental AG of his intention to step down as chief executive officer and as director of the Continental Executive Board. Dr Degenhart’s decision to take leave of the company on 30 November 2020 is based upon “reasons of immediately essential preventive health care,” he informed Continental’s Supervisory Board yesterday. In the near future, Professor Wolfgang Reitzle will convene the Supervisory Board to decide upon the appointment of Degenhart’s successor.

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Related news:

  1. Supervisory Board approves Continental realignment
  2. Continental discussing ‘need for action’ with employee representatives
  3. Continental to expand restructuring programme to save 1 billion euros by 2023
  4. Continental parting ways with human resources head
30th October 2020/by Stephen

Continental discussing ‘need for action’ with employee representatives

Company News
Photo: Continental AG

Continental is the latest automotive sector company to report lower year-on-year income in the second quarter of the year. The tyre maker and automotive systems supplier describes its fiscal performance during the period as “an overall solid” result despite a “sharply declining market.” It is nevertheless considering ways of keeping its production costs in check, and will report its progress to this end in the weeks to come.

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Related news:

  1. Continental net income up almost a quarter in “extremely successful” 2014
  2. Continental: €44 billion in sales, 10.8% EBIT margin in 2017
  3. Continental CEO Degenhart resigns
  4. Continental: Q1 2018 sales up slightly despite exchange rate effects
7th August 2019/by Stephen

Continental: €44 billion in sales, 10.8% EBIT margin in 2017

Company News

Preliminary key data for the 2017 fiscal year published this week shows annual sales at Continental AG to have met estimates announced in November. The tyre maker and automotive technology company reports sales of “around 44 billion euros,” while the adjusted EBIT margin for the year is approximately 10.8 per cent. Continental views its annual targets as being “exceeded”.

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Related news:

  1. Continental discussing ‘need for action’ with employee representatives
  2. Continental raises EBIT forecast, increases income in Q2
  3. Continental Q1 2017 sales up 11.7% to €11 billion
  4. Continental: Q1 2018 sales up slightly despite exchange rate effects
10th January 2018/by Stephen

Continental lifts 2014 EBIT outlook

Company News

After what it says was “a successful start to the new year,” Continental Corporation has raised its adjusted EBIT outlook. “For fiscal 2014 we intend to comfortably achieve an adjusted EBIT margin of 10.5 per cent instead of the originally advised 10.0 per cent,” announced Continental CEO Dr. Elmar Degenhart at last Friday’s Annual Shareholders’ Meeting.

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Related news:

  1. Continental: €44 billion in sales, 10.8% EBIT margin in 2017
  2. Continental discussing ‘need for action’ with employee representatives
  3. Continental withdraws outlook for ‘uncertain’ 2020
  4. Continental CEO Degenhart resigns
28th April 2014/by Tyrepress Editors

Tyre aftermarket a growing focus for Conti

Company News

During last Thursday’s annual press conference, Continental CEO Dr. Elmar Degenhart shared that expansion of the tyre business and further acquisitions are on the cards as part of the company’s aim of reducing its reliance on the automotive original equipment industry. After discussing the recent acquisition of Veyance Technologies, a firm he described as “ideally” matching the ContiTech division in terms of both product range and markets, Degenhart added that further steps towards reducing automotive OE dependence will follow: “Firstly, in the form of continuous expansion of our replacement tyre business. And then too, we are not ruling out the possibility of further acquisitions.”

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Related news:

  1. Conti to support ‘double-digit’ 2011 growth with increased investment
  2. ContiTech sets goal of doubling turnover
  3. Conti anticipating minor tyre market growth in 2014
  4. Continental to take full ownership of emissions JV
10th March 2014/by Tyrepress Editors

Conti donates to European flood relief

News

The worst of the flooding in Central Europe is now over and the time has arrived to clean up – an effort that some estimate will cost up to €12 billion. Continental has chipped in towards these efforts with a donation of €250,000.

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Related news:

  1. Wennemer slams inflexible German labour market
  2. EURODA Offers 500 million euros for Stake in GM
  3. Passenger Car Registrations Up in September
  4. Conti opens Berlin public affairs office
14th June 2013/12,345 Comments/by Tyrepress Editors

Tweaked image reflects an evolving Conti

News

Continental has been in business for 142 years, and since 1882 the company has utilised the ‘prancing horse’ in its logo. This year, Conti’s logo and corporate image has been given the once-over in order to, as the company puts it, underline its change over the years from being a pure tyre maker to becoming one of the world's largest system suppliers for automotive technologies. The horse still features prominently in Continental’s new logo – the company says it now holds a more natural and dynamic position – and it is joined by a new slogan: Continental, the future in motion. This is written in a new font, although the uninitiated may be hard pressed to spot the difference between the new and old.

“Our technological solutions are helping people to enrich the quality of their life through mobility and to structure their living space in a sustainable manner,” explains Continental’s chief executive officer Dr. Elmar Degenhart. “We create fascinating solutions and products for volume production in reliable, first-class quality and faster than our competitors. Our brand symbolises this goal and is the promise to our stake-holders by which we measure ourselves on a daily basis.”

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Related news:

  1. Conti Acquires Serbian Conveyor Belt Manufacturer
  2. End in Sight for Conti’s Huntsville Plant
  3. Conti Tire Americas chief to take on non-tyre role
  4. Conti opens Berlin public affairs office
11th June 2013/12,345 Comments/by Tyrepress Editors

Schaeffler terminates Conti investment agreement

News

On 13 May, the Schaeffler Group gave notice of its intention to terminate the mutual investment agreement it has held with Continental AG since 2008. The agreement will terminate in May 2014.

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Related news:

  1. Conti’s Rearguard Action Takes Shape
  2. Conti: Statement Regarding Schaeffler Takeover
  3. Schaeffler Confident of EU Merger Approval in 25 Days
  4. Continental to Launch 1 billion euro Share Offer in January
14th May 2013/12,345 Comments/by Tyrepress Editors

Conti opens Berlin public affairs office

News

Harry Rogasch is reporting to Berlin as head of Continental’s new Liaison Office for Public Affairs. The office opens for business in the new year and Rogasch’s responsibilities will include representing the legislative and regulatory interests of the company's Rubber and Automotive Groups and engaging in dialogue with political, administrative, and regulatory institutions in the German capital.

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Related news:

  1. Des Collins to lead Conti’s new public liaison office
  2. Cooper appoints new European subsidiary director
  3. Bosch appoints braking product specialist
  4. Continental pumps up trailer tyre range with UK HTR2 and HTL2 launch
12th December 2012/by Tyrepress Editors

The figures point to a good start to 2012, says Conti

Company News

At its Annual Shareholders’ Meeting on 27 April, the Continental Corporation reported a “very good start” to this year. During the first quarter of 2012, the company experienced a double-digit year-on-year growth in sales to 8.3 billion euros, with sales in both its tyre and automotive markets stronger. Reported EBIT, at 766 million euros, exceeded the previous year’s figure considerably, and with a margin of 10.6 per cent, adjusted EBIT before acquisition-related amortisation and special effects amounted to roughly 875 million euros, up from last year’s figure of 734 million euros. Continental will publish its first quarter report in full on 3 May.

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Related news:

  1. Continental Completes ‘First Step’ of Refinancing Package
  2. Continental Back in the Black in Q1
  3. Conti optimistic about meeting 2012 goals
  4. Trelleborg divests light-vehicle component operation
27th April 2012/by Tyrepress Editors

Continental announces aid for Japan

News

German tyre and automotive component manufacturer Continental AG has donated 250,000 euros in emergency aid for those living in the regions of Japan destroyed by the earthquake and tsunami. Referring to recent developments, company CEO Dr. Elmar Degenhart said “our thoughts are currently with the people of Japan who are living through one of the country’s worst crises. Management and employees alike have been devastated by the disaster and its consequences.

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Related news:

  1. Conti opens Berlin public affairs office
  2. The figures point to a good start to 2012, says Conti
  3. New position to strengthen Conti’s supply chain management
  4. Conti battery JV firm enters operation
15th March 2011/by Tyrepress Editors

Continental Back in the Black in Q1

Company News

During the three months to March 31, Continental AG achieved sales of almost six billion euros, a 1.7 billion euro year-on-year increase. At 494 million euros, the company’s reported EBIT was more than 650 million euros higher than the comparative figure for the previous year’s quarter. From this total, sales from Conti’s Rubber Group accounted for 2.2 billion of the total, and reported group EBIT was 313 million euros.

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Related news:

  1. The figures point to a good start to 2012, says Conti
  2. Momentive Takes Over Conti R&D Facility
  3. Conti “Well on its Way” with H1 Results
  4. Conti Sales Reach 25.5 Billion Euros in 2010
28th April 2010/by Tyrepress Editors

Conti Appoints New Communications Senior VP

News

As of February 15 the role of senior vice president at Continental Corporation’s Corporate Communications department will be handled by Dr. Felix Gress. The 49-year old comes to Conti from Metropolregion Rhein-Neckar GmbH, where he served as managing director, and succeeds Dr. Heimo Prokop, who left Continental on December 31, 2009. In his new position, Gress will report directly to Conti Executive Board chairman Dr. Elmar Degenhart.

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Related news:

  1. Continental Completes ‘First Step’ of Refinancing Package
  2. Conti Appoints Burden to UK Industrial Tyres Position
  3. ‘Controversial’ Conti Board Member Stepping Down
  4. Conti appoints Matic Hydraulic Brake Systems head
3rd February 2010/by Tyrepress Editors

Billion Euro Rights Issue Another Refinancing ‘Milestone’ for Conti

Company News

The issuance of 31 million new Continental AG shares, valued at 35 euros apiece, is anticipated to increase the company’s capital by approximately 18 per cent. This rights issue, approved by Conti’s Supervisory Board on the evening of January 6, has been described by Continental as “another significant milestone” in its plan to improve its capital and financing structure, and the capital raised along with the 2.5 billion euro loan announced last month will be used to repay the company’s 3.5 billion euro Tranche B debt, which is due in August.

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Related news:

  1. “Great Interest” Shown in Conti Capital Increase
  2. Reports: Continental May Sell Bonds in Refinancing Move
  3. Continental to Launch 1 billion euro Share Offer in January
  4. Schaeffler terminates Conti investment agreement
7th January 2010/by Tyrepress Editors

Continental Completes ‘First Step’ of Refinancing Package

Company News

Continental AG reports having already successfully completed the first “key steps” of its overall plan to improve its current financing structure and capital structure following the signing of loan agreements on December 19. The German tyre and automotive components supplier states that “important” amendments have been made to the existing loan agreements, allowing for the repayment of the 3.5 billion euro tranche due in August 2010 inter alia by a forward start facility (FSF) while also providing further flexibility. At the same time, the company has received FSF commitments in excess of the requested 2.5 billion euros, which has resulted in an over-subscription of their bank group’s request.

Read more

Related news:

  1. Conti completes final stage of VDO loan refinancing
  2. The figures point to a good start to 2012, says Conti
  3. Acceptance of Daewoo Sale to Aid Kumho Restructuring Plan
  4. Schaeffler to become public company
21st December 2009/by Tyrepress Editors
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