The Executive Board of Continental AG has decided today on the following parameters for the outlook for fiscal 2021, some of which are below current average analyst expectations.
The outlook assumes the following:
· Based on the currently foreseeable effects related to the ongoing COVID-19 pandemic as well as ongoing supply chain constraints related to semiconductor components, Continental expects that global light vehicle production in fiscal 2021 will increase by 9% to 12% versus fiscal 2020. It also assumes exchange rates throughout fiscal 2021 do not materially differ to those as at the beginning of the year.
· The outlook assumes Powertrain Technologies remains fully consolidated for the entire year. Depending on developments related to the planned spin-off of Vitesco Technologies in the second half of fiscal 2021, Continental will adjust the outlook.
The aforementioned factors result in…