Continental AG Reports Net Income In Q2

(RTTNews) – Continental AG (CTTAY.PK) said ongoing shortage of semiconductors severely slowed automotive production in the company’s second quarter, as expected. However, the Rubber Technologies group sector reported strong figures, due to the positive performance of the tire business.

“The chip bottleneck and rising raw material prices are set to weigh on the automotive industry throughout 2021,” said Nikolai Setzer, Continental CEO.

Second quarter net income was 545 million euros compared to a loss of 741 million euros, previous year. Earnings per share …

Source: Nasdaq