Continental Corporation has again increased its earnings forecast for the 2014 fiscal year. Upon publishing the company’s second quarter and first half results, Executive Board chairman Dr. Elmar Degenhart said Continental is now aiming for an adjusted EBIT of 11.0 per cent rather than the 10.5 per cent announced in March (when it was increased from 10.0 per cent). This 11.0 per cent target is supported, the company says, by the ongoing trend towards favourable natural rubber prices.
At Continental’s Supplier Day 2014, held recently in Prague, the tyre maker and automotive systems provider honoured suppliers that offered “outstanding performance” last year. The company gave Supplier of the Year 2013 awards to 16 of its approximately 900 key suppliers at a ceremony attended by 370 invited guests. Awards were given for excelling in four key areas: quality, technology, logistics and purchasing conditions.
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.
The abrupt end of Elke Strathmann’s career at Continental AG was made public earlier this month, and the company announced today that Strathmann has already relinquished her seat on its Executive Board. Dr. Ariane Reinhart has been named as Continental’s new Executive Board member for human resources and director of labour relations.