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

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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 nico.schmidt@dowjones.com

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

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Financials (€)
Sales 2016 40 969 M
EBIT 2016 4 597 M
Net income 2016 2 995 M
Debt 2016 2 369 M
Yield 2016 2,32%
P/E ratio 2016 12,12
P/E ratio 2017 11,27
EV / Sales 2016 0,95x
EV / Sales 2017 0,87x
Capitalization 36 471 M
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 214 €
Spread / Average Target 17%
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Managers
NameTitle
Elmar Degenhart Chairman-Executive Board
Wolfgang W. Reitzle Chairman-Supervisory Board
Wolfgang Schäfer Head-Finance & Controlling
Michael Iglhaut Member-Supervisory Board
Hartmut Meine Deputy Chairman-Supervisory Board
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