Cars Continental Share Jumps to numbers temporarily to the DAX top - Continental lowers outlook 2021

19:21  22 october  2021
19:21  22 october  2021 Source:   finanzen.net

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The automotive supplier Continental has lowered its outlook for the current financial year due to supply bottlenecks.

ASIF HASSAN/AFP/Getty Images © Provided by finanzen.net ASIF Hassan / AFP / Getty Images

The DAX company expects consolidated sales of approx. 32.5 to 33.5 billion euros instead of 33.5 to 34.5 billion euros . The adjusted EBIT margin expects 5.2 to 5.6 percent instead of 6.5 to 7 percent.

The previous forecast was based on an expected growth of the global production of car and light commercial vehicles between 8 and 10 percent. Meanwhile, Continental assumes that global production will be in a range of plus or minus 1 percent above or below the previous year's level. In addition, the negative impact of the cost increase for important supplies, including electronics and electromechanical components for Automotive Technologies, raw materials for Rubber Technologies as well as energy and logistics increased significantly.

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Continental shares jump to numbers to the DAX peak

The stocks of Continental are jumped on Friday after quarterly numbers and despite the annual prognosis lowered because of the general chipmangel to the DAX tip. In highly, the papers of the car supplier Via Xetra rose up to 102.60 euros. Later, you will recall 1.51 percent higher at 99.65 euros.

Marktxperte Andreas Lipkow from

ComDirect pointed out that the quarterly numbers of Conti reflect the overall difficult situation in the whole automotive industry very well. "Market participants had expected much worse numbers." Especially in the field of Automotive Technology, the good positioning of the company show itself, he added. Lipkow also referred to the "rather thin trading volume in the shares". Frankfurt (Dow Jones / DPA-AFX)

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