Tag: Elmar Degenhart
Continental discussing ‘need for action’ with employee representatives
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.
Continental bosses lay foundation stone for new HQ
The foundation stone for Continental’s new headquarters in Hannover, Germany is now in place, and the company says its construction project is on schedule. Chief executive officer Dr Elmar Degenhart and Executive Board members Dr Ariane Reinhart and Wolfgang Schäfer hosted a ceremony to mark the occasion at the construction site last Wednesday.
Continental celebrates 50 years of tyre tests with driverless vehicles
Driverless cars? Continental had those 50 years ago…It is exactly half a century today since the tyre maker demonstrated its first electronically controlled driverless car at its Contidrom facility in Germany. In those days a car cruising the Contidrom circuit without someone behind the wheel was a novel sight, to say the least, and Continental recalls that more than 400 newspapers, magazines, radio stations and television channels reported on the events of 11 September 1968.
Continental: Tire division sales, EBIT lower in H1 2018
Although company sales and income were up during the first half of 2018, there was little to celebrate within the Tire division at Continental. Division sales volumes, sales and EBIT all decreased year-on-year in the six months to 30 June.
Continental breaks ground on new HQ project
The first sods of earth in the construction of the new Continental headquarters in Hannover, Germany were turned yesterday at an official groundbreaking ceremony. The facility, which carries the snappy title Continental Campus, is expected to be finished by the end of 2020 and provide space for 1,250 employees. The entire headquarters workforce should be housed in the new buildings by 2021, the company’s 150th anniversary.
Supervisory Board approves Continental realignment
Major organisational changes proposed by Continental AG have gained the blessing of the company’s Supervisory Board. At a meeting today, board members approved the creation of a new Continental AG holding structure, ‘Continental Group’, and also gave the green light to making an independent legal entity out of the company’s Powertrain division ahead of its partial initial public offering (IPO) in mid-2019.
Continental announces major organisational realignment
Tyre maker and automotive technology firm Continental says it will be “one of the largest organisational realignments” in its history: The Executive Board of Continental AG has announced plans to create a holding structure under a new umbrella brand, Continental Group, and support this holding structure with three new business sectors – Continental Rubber, Continental Automotive and Powertrain. These sectors will succeed the current Automotive Group and Rubber Group.
Continental: Electromobility is the future – but the future is some way off
The Government has committed to ending the sale of new conventional petrol and diesel cars and vans by 2040 and is under pressure from some quarters to bring this deadline forward. Technology company and tyre maker Continental, on the other hand, recommends a more protracted timetable for phasing out conventional power sources – and it has called upon governments to provide sufficient breathing space for the development of appropriate technologies.
Continental: Q1 2018 sales up slightly despite exchange rate effects
Key data pertaining to first quarter performance were presented at the Continental Annual Shareholders’ Meeting today ahead of the release of complete Q1 2018 figures on 8 May.
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.
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.
Continental: €44 billion in sales, 10.8% EBIT margin in 2017
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”.
Continental: Tyre division growth behind group average in Q1-3 2017
The word Continental has used to describe its sales growth in the nine months to 30 September 2017 is “strong”. Sales rose 9.0 per cent during the period to 32.7 billion euros, a result Executive Board chairman Dr Elmar Degenhart attributes to putting “money on the right horses with our technologies for safe, efficient and intelligent mobility.”
Continental net income down: Raw material costs deflate tyre-related earnings
Although sales rose, sharp increases in raw material costs held back earnings within Continental’s Tire and ContiTech divisions in the first half of 2017. Reporting the company’s first half and second quarter results, Executive Board chairman Dr Elmar Degenhart shared that despite a 9.4 per cent year-on-year increase in sales during the six months to 30 June, to 8.6 billion euros, these costs impacted the Continental Rubber Group’s earnings by some 300 million euros. Rubber Group EBIT dropped 11.2 per cent to 1.2 billion euros in the first half of the year and the margin contracted from 17.7 per cent to 14.4 per cent.
Continental to present diesel technologies at IAA
Rhetoric coming from some corners would have us believe that diesel cars are evil and electric vehicles are the way, the truth and the light. Yet the humble diesel and its petrol-driven cousin aren’t finished yet. Not by a long way. Growing global demand for mobility will see internal combustion engines remain with us for some time to come, hopefully long enough for the champions of electromobility to overcome the technology’s current drawbacks.