Continental : Exceeds 2017 Annual Targets

Growth Remains Strong and Profitable: Continental Exceeds 2017 Annual Targets
- Preliminary key data published for fiscal 2017
- Fourth quarter sees solid sales and earnings, as expected
- Sales grow by around 8 percent to around EUR44 billion before consolidation and exchange rate effects
- Adjusted EBIT margin amounts to around 10.8 percent
- Automotive Group's incoming orders rise to more than EUR39 billion
- 2018 outlook: Sales growth to around EUR47 billion at constant exchange rates;
adjusted EBIT margin of around 10.5 percent

Hanover (Germany), Las Vegas (USA), January 9, 2018. Technology company Continental again experienced above average and profitable growth in fiscal 2017. With sales of around EUR44 billion, representing a more than 8 percent growth year-on-year, and an adjusted EBIT margin of around 10.8 percent, Continental has exceeded its annual targets.

Continental CEO Dr. Elmar Degenhart appeared pleased with the preliminary key data announced during the Consumer Electronics Show (CES) in Las Vegas: "Continental's success curve continues to point upwards. Our innovative technologies in the areas of assisted and automated driving, connectivity and electrification again helped us achieve above-average growth. Our hard work for our customers has paid off, and our customers appreciate this. This is reflected most notably in the increase in incoming orders for our Automotive Group, which rose to more than EUR39 billion in 2017."

Before consolidation and exchange-rate effects, the sales growth amounted to around 8 percent. To put this into context, Continental grew much faster than for instance the global market for the production of cars and light commercial vehicles, which was - based on preliminary data - up by just 2 percent year-on-year.

"As expected, the fourth quarter of the past fiscal year saw solid sales and earnings," said CFO Wolfgang Schaefer. "This was due primarily to the growth of our Automotive divisions and of our industry specialist ContiTech, as well as our business with winter tires, where sales volumes in 2017 again surpassed the strong figures of the prior year," he added.

For 2018, Continental anticipates sales to grow to around EUR47 billion. An adjusted EBIT margin of around 10.5 percent is expected to be achieved comfortably. At the same time, the company from Hanover, Germany, which is listed in the DAX30 prime standard, expects a slight increase in the global production of cars and light commercial vehicles of more than 1 percent to around 97 million vehicles.

Continental will release its preliminary business figures on March 8, 2018, as part of its digital annual financial press conference.

Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transportation. In 2017, Continental generated preliminary sales of around EUR44 billion and currently employs more than 233.000 people in 56 countries.

Contact for journalists

Henry Schniewind
Spokesman Business & Finance
Continental AG
Phone: +49 511 938 1278
Mobile: +49 151 688 64 262
E-mail: henry.schniewind@conti.de

Vincent Charles
Head of Media Relations
Continental AG
Phone: +49 511 938 1364
Mobile: +49 173 314 50 96
E-mail: vincent.charles@conti.de
 

Links

Press portal: www.continental-press.com
Video portal: http://videoportal.continental-corporation.com
Continental at CES 2018: www.continental.com/CES
Media database: www.continental-mediacenter.com