Continental witnesses encouraging start in 2015

Continental Corporation, Hanover, has had a positive start to 2015. In the first quarter of this year, the sales of the international automotive supplier, tyre manufacturer and industrial partner climbed by 14 percent year-on-year to around €9.6 billion. Adjusted EBIT rose to around €1 billion.

Dr. Elmar Degenhart
Mr. Elmar Degenhart, CEO, Continental

“Given the still only sluggish development in our sales markets, the start to the current year was very encouraging. We anticipate that the replacement tyre market in Europe will improve in the quarters ahead. As a result of the positive development in new registrations particularly in Western Europe, we also expect an increase in the number of passenger cars produced. Accordingly, our sales and earnings will also continue to improve in the coming quarters,” said Mr. Elmar Degenhart, CEO, Continental at the Annual Shareholders’ Meeting in Hanover while presenting the key data for the first three months.

In 2014, the corporation generated sales of approximately €34.5 billion with its five divisions chassis and safety, interior, powertrain, tyres and ContiTech. Continental currently employs approximately 2,00,000 people in 53 countries. The company will present its figures for the first quarter of 2015 on May 7.