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

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01/14/2013 | 02:32pm CEST

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 [email protected]

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

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Financials (€)
Sales 2017 43 851 M
EBIT 2017 4 838 M
Net income 2017 3 171 M
Debt 2017 2 842 M
Yield 2017 2,17%
P/E ratio 2017 13,59
P/E ratio 2018 12,29
EV / Sales 2017 1,04x
EV / Sales 2018 0,96x
Capitalization 42 981 M
Duration : Period :
Continental Technical Analysis Chart | CON | DE0005439004 | 4-Traders
Technical analysis trends CONTINENTAL
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 221 €
Spread / Average Target 3,0%
EPS Revisions
Elmar Degenhart Chairman-Executive Board
Wolfgang W. Reitzle Chairman-Supervisory Board
Wolfgang Schäfer Head-Finance, Controlling, Compliance, Law & IT
Karsten Michels Head-Systems & Technology
Michael Iglhaut Member-Supervisory Board
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