Continental’s tyre division contributes 94.4 per cent to group EBIT

Following Continental’s mid-January preview of its key figures for the past financial year, the tyre and automotive supplier has officially released its 2022 full-year figures.

According to the company, Continental “achieved its adjusted sales and earnings target in the 2022 financial year despite the challenging overall economic situation”. The company’s development was particularly burdened by the effects of the war in Ukraine, the restrictions in China due to the pandemic, the continuing semiconductor chip shortage and additional costs of around 3.3 billion euros due to price increases for raw materials, intermediate products, energy and logistics.

Nevertheless, Continental managed to keep its pre-tax profit margin (EBIT) largely stable, while the surplus melted to just 66.6 million euros. Once again Continental’s Tire division carried overall profitability, contributing 35.5 per cent to sales, but 94.4 per cent of adjusted EBIT as CEO Nikolai Setzer and CFO Katja Dürrfeld explained this morning in their online presentation on 8 March.