Tire production at Continental
The stock has gained more than 30 percent since September.
(Photo: dpa)
Late payments and higher costs in the industrial business are causing problems for the automotive supplier Continental. For this reason, the share was one of the biggest losers in the Dax 40 on Wednesday.
In the meantime, the minus was almost five percent. However, the paper has gained more than 30 percent since the end of September.
Above all, the unexpectedly low profit in the ContiTech division influenced the downward price of the share. The auto division, on the other hand, made money again in the fourth quarter and drove in a profit margin of 2.1 percent.
For the year as a whole, however, it continued to be in the red. In order to counteract the surge in prices for energy, raw materials and logistics triggered by Russia’s war of aggression in Ukraine, the company recently raised prices. Continental will present its complete business figures for the past year on March 8 of this year.
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