Continental’s tyres and rubber business profitable in Q2, despite corona
Continental has reported second quarter 2020 consolidated group sales of 6.620 billion euros. This equates to -39.8 per cent drop year-on-year. Pre-tax profits (EBIT) came in at -9.6 per cent of sales (-636 million euros). However, sales in the Rubber Technologies division, which includes tyres, were 2.962 billion euros and the adjusted EBIT margin was 1.2 per cent (around 36 million euros). Thus, Continental’s tyre business has managed to remain profitable despite the obvious pressures of the coronavirus context.