Continental announces preliminary data for Q1 2021

The Continental Group has released preliminary key data for Q1 2021 ahead of issuing its quarterly statement on 6 May. This preliminary data indicates that Continental achieved consolidated sales of 10.259 billion euros during the quarter, 3.5 per cent higher than the same period of last year, with an adjusted EBIT margin of 8.1 per cent.

The company points out that this adjusted EBIT margin is influenced by the intended spin-off of the Powertrain Technologies business, and therefore IFRS 5 Non-current Assets Held for Sale and Discontinued Operations has been applied. Due to this application, depreciation ceased for discontinued operations as of 16 March 2021. Without this application, the adjusted EBIT margin would have been 7.9 per cent (Q1 2020: 4.4 per cent). Year-on-year sales growth before changes in the scope of consolidation and exchange-rate effects was 8.6 per cent.

Sales in Rubber Technologies, which includes Continental’s tyre business, were up 6.6 per cent year-on-year to 4.235 billion euros and the adjusted EBIT margin was 14.5 per cent (Q1 2020: 9.6 per cent). Year-on-year sales growth before changes in the scope of consolidation and exchange-rate effects was 11.7 per cent.

Continental retains the outlook for fiscal 2021 as described in its 2020 Annual Report.