Third-quarter income up 14.1 per cent at Continental
Following what it calls a “solid third quarter”, Continental Corporation has confirmed its forecast for the 2014 fiscal year. The tyre and automotive systems manufacturer reported net sales of €8.7 billion in the period between 1 June and 30 September, a year-on-year increase of 3.8 per cent. EBIT decreased 28.0 per cent to €637.8 million in the three-month period, with EBIT margin declining from 10.6 per cent in Q3 2013 to 7.4 per cent, however net income rose 14.1 per cent to €495.1 million. Earnings per share amounted to €2.47, up from €2.17 a year earlier.