The year got off to a rather weak start for Continental. While the tire business developed positively, the development of the automotive supply division was disappointing in view of the many burdens.
In the first quarter, the Continental Corporation posted a sharp drop in operating earnings in its “Automotive” division – from plus 97 million euros in the previous year to minus 165 million. The “increasingly turbulent market environment” with burdens from the Ukraine war, expensive energy, new delivery problems and corona lockdowns in China had a negative impact on the third-largest German automotive supplier after Bosch and ZF, as the company announced today.
Tire business was good
The tire business developed better at the start of the year thanks to increased sales and price developments, which were good for Continental. Continental referred in particular to …
Source: Globe Echo