The car supplier and tire manufacturer Continental did better in the first quarter despite the poor industry situation than in the weak period of the previous year. Especially in the automotive delivery to be split -off, the shops developed significantly cheaper.
The shares of Continental recorded profits according to the notification. Most recently, the Papers of the Dax Group increased by 3.2 percent. The setback due to the US customs storm from the beginning of April is now ticked off.
The operational result of the Hanoverian, which was adjusted for special effects, was 639 million euros and was a good three times as high as in the previous year’s quarter, as the DAX group announced on Tuesday. This also contributed to the fact that Conti identified the automotive delivery according to the decision on the spin-off as a not continued business area and special rules were used. According to accounting rules (IFRS 5), no depreciation for the business to be handed over in the remaining group has been counted since the splitting decision.
Sales below 10 billion euros
Even without this effect, however, the situation in sales in sales improved significantly. A year earlier, Conti had written deep red numbers here. The operational margin would have increased from minus 4.0 percent to now plus 1.6 percent if the depreciation would have had to be continued as before. Experts had only expected a value above the profit threshold.
Conti had announced the reduction of more than 10,000 jobs in a savings program, a large part of which has now been eliminated. The administration is affected, and research and development should also be saved. In the past, the division often had to be co -financed by the profitable tire business, but this September should be made independently on the stock exchange and fit.
Group sales in the overall group decreased by 0.8 percent to EUR 9.7 billion in the first three months. The net profit was 68 million euros. A year earlier, Conti had shown a loss of 53 million euros.
CEO Nikolai Setzer (54) confirmed the sales and margin forecasts for the individual business areas. Due to the spin-offs of the car delivery division planned for September, Conti now formulates its goals for the remaining group from tire business and plastic technology as well as separately for the business with auto parts to be split off. However, the outlook also takes into account no possible loads from future tariffs and other trading restrictions.