Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Xetra  >  Continental AG    CON   DE0005439004


News SummaryMost relevantAll newsSector news 

Continental AG : CFO Sees Weak First-Quarter Business in Europe

01/14/2013 | 08:32am US/Eastern

By Nico Schmidt

DETROIT--German car supplier Continental AG (CON.XE) expects the first quarter of 2013 to be difficult because of weak business in Europe, Chief Financial Officer Wolfgang Schaefer said Monday.

Mr. Schaefer predicts European car production will decline by 10% to 12% in the first quarter. Last year, significant growth in the U.S. compensated for weak development in Europe but it has become increasingly difficult to exceed prior-year figures in the U.S., he noted.

Over the course of the next year, however, the CFO expects demand in Europe to recover and he forecasts full-year production to be 2% below the 2012 level.

U.S. car production will slightly rise this year and production in China will increase by 8% to 10% so there will be a 2% to 3% increase globally, according to Mr. Schaefer's predictions.

Continental AG's business will see growth predominantly in the second half of 2013, he added.

Write to Nico Schmidt at nico.schmidt@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

React to this article
Latest news on CONTINENTAL AG
06:03a BASF SE : -World's first rear axle transmission crossbeam made of plastic in the..
07/02 CONTINENTAL : Sale of Elektrobit Corporation's (EB) Automotive business to Conti..
07/01 CRANE : Street Crane - Radical Overhead Crane Design for Flexible Hose Manufactu..
07/01 CONTINENTAL : Closes Acquisition of Elektrobit Automotive
07/01 CONTINENTAL : Closes Acquisition of Elektrobit Automotive (DGAP News)
07/01 CONTINENTAL : schließt Übernahme von Elektrobit Automotive ab (DGAP News)
06/30 CONTINENTAL : New Electric Drive from Continental: Tailor-Made for the Chinese M..
06/24 CONTINENTAL : ContiTech Develops Lighter and More Resistant Materials for Vehicl..
06/24 CONTINENTAL : Benecke-Kaliko Expands Production in Mexico
06/23 CONTINENTAL : Off Road Accidents can be Avoided with Continental’s Road De..
Duration : Period :
Continental AG Technical Analysis Chart | CON | DE0005439004 | 4-Traders
Income Statement Evolution
More Financials