continental
German automotive parts maker Continental slipped to a loss in the first quarter of 2024, reporting that it went €53 million ($57 million) into the red, compared to a profit of €382 million last year. This means the company ended up with a loss of €0.27 per share, in contrast to making a profit of €1.91 per share a year ago. The adjusted operating result, or EBIT (earnings before interest and tax), was €196 million, which is 65.8% lower than the €574 million recorded last year. The adjusted EBIT margin was 2.0%, down from 5.6% last year. The company's consolidated sales stood at €9.8 billion, ...
DPA Breaking News
Prosecutors in Germany have imposed a fine of €100 million ($107 million) on automotive supplier Continental in connection with the major diesel engine emissions manipulation scandal that rocked Germany's automotive industry. The parts maker later said it would pass on the fine to a unit spun off in 2021. Continental and other corporations have faced proceedings for negligent breach of supervisory duties from prosecutors in Hanover, where Continental is based. The diesel cheating scandal broke publicly in 2015, when regulators in the United States discovered that some Volkswagen diesel vehicle...
DPA Breaking News
Prosecutors in Germany have imposed a fine of €100 million ($107 million) on automotive supplier Continental in connection with the major diesel engine emissions manipulation scandal that rocked Germany's automotive industry. Continental and other corporations have faced proceedings for negligent breach of supervisory duties from prosecutors in Hanover, where Continental is based. The diesel cheating scandal broke publicly in 2015, when regulators in the United States discovered that some Volkswagen diesel vehicles had been intentionally programmed to run cleaner during emissions testing than ...
DPA Breaking News
Prosecutors in Germany have imposed a fine of €100 million ($107 million) on automotive supplier Continental in connection with the major diesel engine emissions manipulation scandal that rocked Germany's automotive industry. Continental and other corporations have faced proceedings for negligent breach of supervisory duties from prosecutors in Hanover, where Continental is based. The diesel cheating scandal broke publicly in 2015, when regulators in the United States discovered that some Volkswagen diesel vehicles had been intentionally programmed to run cleaner during emissions testing than ...
DPA Breaking News
German automotive parts maker Continental's preliminary results for the first quarter of 2024 have fallen short of market expectations. Quarterly consolidated sales amounted to around €9.8 billion ($10.4 billion), compared to a projected €10 billion. Quarterly adjusted EBIT margin is expected to be around 2% rather than an expected 3.7%. Despite the results of the first quarter, the company expects sufficient improvement potential in all group sectors and thus for the group as a whole. The company confirmed its guidance for fiscal 2024. Looking ahead for fiscal 2024, Continental still anticipa...
DPA Breaking News
Germany automotive sector supplier Continental posted first-quarter figures weaker than expected by analysts, but stuck to its forecast for the group as a whole over the full year. Sales in the automotive group sector came in at €4.8 billion ($5.1 billion), down from €5 billion last year and also below expectations of €4.9 billion. The margin on earnings before interest and tax was minus 4.3%, by contrast with expectations for minus 1.8%. The company attributed the poor results to lower volume, particularly in Europe, as well as pending contract renegotiation for additional pricing with custom...
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German car parts supplier Continental revealed a surge in its fiscal 2023 net income attributable to the shareholders to €1.16 billion ($1.26 billion) on Thursday. This compares to the previous year's €66.6 million. Earnings per share were €5.78, up from the prior year's €0.33. Adjusted operating result, or adjusted EBIT, climbed 31.6% from last year to €2.52 billion, corresponding to an adjusted EBIT margin of 6.1%, up from 4.9% last year. All three group sectors contributed to the improved adjusted EBIT margin. Continental achieved consolidated sales of €41.42 billion, a growth of 5.1% from ...
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