Continental: Q1 2018 sales up slightly despite exchange rate effects
Key data pertaining to first quarter performance were presented at the Continental Annual Shareholders’ Meeting today ahead of the release of complete Q1 2018 figures on 8 May.
Hannover-based Continental AG is a leading automotive supplier and – according to the company – is “the choice of leading car manufacturers, offering award-winning tyres that deliver responsive braking in all weather conditions.”
Key data pertaining to first quarter performance were presented at the Continental Annual Shareholders’ Meeting today ahead of the release of complete Q1 2018 figures on 8 May.
Continental has officially confirmed the appointment of Cordula Ressing as its head of Media and Public Relations PLT Tires Worldwide. She began in this role on 1 March 2018.
First half 2018 earnings at Continental AG are now expected to be around 150 million euros less than previously projected, the company reports. To blame for this negative development are exchange rate and inventory valuation effects, primarily in Continental’s tyre business. In response to anticipated lower earnings, Continental has revised its outlook for adjusted operating result (adjusted EBIT) within its Rubber Group for the period – this is expected to be around 100 million euros lower than in the first half of 2017.
Continental has become the official tyre of the Giro d’Italia as part of a three-year agreement signed with organiser RCS Sport that sees the tyre maker also take on the role of official partner to the cycling Grand Tour race. As official tyre partner, Continental will collaborate with Shimano to supply both bicycle and car tyres for the neutral technical assistance team.
Five years after production commenced, the Continental tyre factory in Kaluga, Russia has celebrated the production of its 10 millionth tyre. Plant output officially went into eight-digit figures on 11 April and the team in Kaluga marked the occasion with invited guests, including government officials, customers and representatives from the Continental Executive Board.
Aquaplaning is a phenomenon we can’t avoid – or can we? Continental is confident that technology can help us do so and has shared news of solutions it is developing. These are still just concepts; however, the company believes the aquaplaning assistance technology it is now working on has the potential to intervene when aquaplaning rears its ugly head.
Negotiations between Continental and lighting manufacturer Osram have concluded with the two parties in agreement on the shape and form of their new Osram Continental GmbH joint venture. Each of the partners will hold a 50 per cent share in the business, with Continental’s Harald Renner acting as chief financial officer and Dirk Linzmeier from Osram taking on the role of chief executive officer. Osram Continental is expected to be up and running in the second half of 2018 once all necessary approvals have been granted.
Continental Malaysia reports that it is pioneering its intelligent in-tyre sensor in the Asia-Pacific (APAC) market. Announcing the news, Continental says it is committed to “creating the best holistic solutions [for] customers by enhancing its value chain through digitalization [and] connecting intelligent products, systems and services.”
You’d be a fool not to look at the Continental AncorContact this April. At the start of the month, the tyre maker will launch a new tyre that will stop you in your tracks.
Continental and Vodafone are promoting a new digital tyre monitoring platform, ContiConnect. The companies are using the Internet of Things (IoT) to connect commercial vehicle fleets to the digital tyre monitoring platform to improve road safety and vehicle efficiencies. ContiConnect is currently deployed in US, Canada, Malaysia and Thailand with more markets in Europe and Asia to follow in 2018 and next year.
It’s only been four months since the foundation stone for Continental’s new tyre factory in Rayong, Thailand was laid, yet good progress has already been made. On 15 March the first machine was installed within the plant, an occasion celebrated by some 180 guests, Thai officials, as well as Continental management and representatives from the local project team, suppliers and dealers.
The unexpected death of Alexander Bahlmann last summer left a hole in the tyre industry and particularly at Continental, where he headed communications and public relations for the Tire division’s passenger car and light truck tyre business. It is only now, half a year later, that a successor has taken on the position vacant since Bahlmann’s passing. As of this month, Cordula Ressing is the new head of communications and public relations for Continental’s car and light truck tyre business.
Bentley has been unveiling what it calls the first hybrid electric super-luxury car at the Geneva Motor Show. Other manufacturers (like Porsche) may disagree with this assertion, but the launch marks something of a landmark for the industry with more and more emphasis being paid to the new generation of electric and hybrid vehicles. Indeed, during the company’s latest financial results, Pirelli’s Marco Tronchettic Provera even spoke about the digitisation of the company’s business as if it is normal – something that was followed by the launch of Pirelli’s Cyber Car in Geneva at the start of March. In short, the Cyber Car system offers an OEM solution to send data from the tyres to the car and from the car to the cloud for the benefit of that particular driver as well as road-users in general.
Preliminary figures for Continental’s 2017 financial year were presented today and show an 8.5 per cent growth in sales, to 44 billion euros, and an EBIT margin of 10.9 per cent. With these two figures, the tyre maker and technology provider states that it surpassed its targets for the year. Net income increased 6.5 per cent year-on-year to 3 billion, which equates to earnings of 14.92 euros per share.
Preliminary figures for Continental’s 2017 financial year were presented today and show an 8.5 per cent growth in sales, to 44 billion euros, and an EBIT margin of 10.9 per cent. With these two figures, the tyre maker and technology provider states that it surpassed its targets for the year. Net income increased 6.5 per cent year-on-year to 3 billion, which equates to earnings of 14.92 euros per share.
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