Reviews Continental deserves better

16:30  06 may  2021
16:30  06 may  2021 Source:   pressfrom.com

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Continental is after an improved result for the start of the year, hoping for further relaxation of the long coronage-troubled business in the coming months. Something clouded is the mood, however, from the delivery bottlenecks in semiconductors, whose consequences are not yet sufficient.

Der Autozulieferer Continental hat weitere Details zum Geschäftsverlauf im ersten Quartal bekanntgegeben. © Christophe Gateau / DPA The car supplier Continental has announced further details on the course of business in the first quarter.

In the first quarter, the DAX Group from Hanover achieved a net profit of 448 million euros. In the same period of the previous year, it had been - just before the virus crisis of Asia spread worldwide - 292 million euros, after which it was initially downhill with the result. As Conti reported on Thursday, the markets for passenger cars and light commercial vehicles now focused strongly in China. In Europe and North America, they were still weaker.

Vitesco relies on the separation of Conti on Electric Mobility

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CEO Nikolai Setzer sees a "well-successful start" 2021. Above all, the uncertainties around the lack of semiconductor chips are further considered: "The coming months remain very challenging. Because the global economy is only gradually on tours - not least because of bottlenecks in the delivery of electronics components. » In addition, prices rose for important raw materials of the car supplier.

of the intra-constructor and under trade unionists controversial conversion towards software, sensor technology and electronics do meanwhile "recognizable progress", stated: "We work point for point our tasks.» This includes the split on the September cleavage of the combustion and electric drives division. It is outsourced to the new company Vitesco.

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without this area, CONTI 2021 wants to generate sales of 32.5 to 34.5 billion euros in the continuing business. Those parts of the automotive core divisions, which remain in the Group, could come according to the planning to 16 to 17 billion euros. Conti also forms an extra area for autonomous driving here.

The classic tire business - with capacities under pressure and therefore affected by site closures, but further a profit musters of the Group - together with industry-plastic technology (ContiTech) will increase 16.5 to 17.5 billion euros in the current year. It is believed that the cost of raw materials as rubber rise. Whether this results in higher prices for tire buyers, was still unclear.

Most other business figures had recently called Continental. Sales increased by 3.5 percent compared to the same period of the previous year by 3.5 percent to around € 10.3 billion, from interest and taxes amounted to 834 million euros as an adjusted result. For the global production of cars and light commercial vehicles, the company 2021, after the deep Corona Delle 2020, expects an increase of 9 to 12 percent.

Why Miller deserves a contract extension at Ducati .
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