Continental Q4 Sales Flat, Adj. EBIT, Margin Down; Sees Flat Production In FY19
(RTTNews.com) - German automotive supplier and tire manufacturer Continental AG (CTTAY.PK) announced Monday that, according to preliminary key figures, sales were around 11.25 billion euros, same level as the previous year.
Adjusted EBIT amounted to around 1.1 billion pounds, and the adjusted EBIT margin came to about 9.7 percent. This is compared to prior year's adjusted EBIT of 1.31 billion euros, and adjusted EBIT margin of 11.7 percent.
In the fourth quarter of 2018, global production decreased 4 percent year-on-year.
For the year, consolidated sales increased around 1 percent to around 44.4 billion euros. Organic sales growth was about 3 percent.
The adjusted EBIT margin came to about 9.2 percent, down from 10.8 percent last year. Adjusted EBIT was around 4.1 billion euros, down from last year's 4.75 billion euros.
Adjusted for changes in the scope of consolidation and exchange rates, Continental's sales growth was about 3 percent in the past fiscal year. This positive development was countered by further declines in the global production of passenger cars and light commercial vehicles.
Looking ahead for fiscal 2019, the company expects the production volume of cars and light commercial vehicle to be on a par with the previous year.
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