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Continental Achieves Targets and Anticipates Sales of Around EUR37.5 Billion in 2015
DGAP-News: Continental AG / Key word(s): Preliminary Results/Dividend
Continental Achieves Targets and Anticipates Sales of Around EUR37.5
Billion in 2015
05.03.2015 / 08:30
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- Net income for 2014 improves to almost EUR2.4 billion / EUR11.88 per
share
- Dividend up 30 percent to EUR3.25
- Target achieved with sales of EUR34.5 billion despite headwind from
foreign exchange effects
- Net indebtedness at lowest level since 2006 / free cash flow of EUR2.0
billion
- Adjusted EBIT of EUR3.9 billion / adjusted EBIT margin of 11.3 percent
- Successful start to 2015
- Targets for 2020: Sales of over EUR50 billion with double-digit EBIT
margin
Hanover, March 5, 2015. The Continental Corporation achieved its annual
targets in 2014 while also fulfilling several long-term objectives. As a
technology leader the company generated sales of EUR34.5 billion as
targeted and achieved an adjusted margin of 11.3 percent. The return on
capital employed (ROCE) came to exactly 20 percent in 2014, thus having
risen for the fifth year in a row. Net indebtedness decreased further by
almost EUR1.5 billion to approximately EUR2.8 billion. The gearing ratio at
the end of the year was 25.6 percent.
For the current fiscal year, Continental aims to achieve a rise in sales of
almost 9 percent to around EUR37.5 billion, which includes a contribution
of at least EUR1.3 billion from the first-time consolidation of the
acquired company Veyance Technologies. The way things look now, it appears
that positive exchange rate effects could contribute an additional EUR1
billion to sales. The EBIT margin is expected to exceed 10.5 percent in
2015. Growth impetus is anticipated from Asia again, particularly China,
and from North America. For 2015, Continental expects global production of
vehicles weighing up to six tons to total approximately 89 million units.
"Continental has had a good start into 2015, thus confirming our
expectations for the entire year," said Chairman of the Continental
Executive Board, Dr. Elmar Degenhart, at the presentation of the
preliminary business figures in Hanover on Thursday. "We are pleased to
look back at another extremely successful financial year 2014, during which
we achieved our targets."
Degenhart continued: "When evaluating the results, we should not forget the
- Net income for 2014 improves to almost EUR2.4 billion / EUR11.88 per
share
- Dividend up 30 percent to EUR3.25
- Target achieved with sales of EUR34.5 billion despite headwind from
foreign exchange effects
- Net indebtedness at lowest level since 2006 / free cash flow of EUR2.0
billion
- Adjusted EBIT of EUR3.9 billion / adjusted EBIT margin of 11.3 percent
- Successful start to 2015
- Targets for 2020: Sales of over EUR50 billion with double-digit EBIT
margin
Hanover, March 5, 2015. The Continental Corporation achieved its annual
targets in 2014 while also fulfilling several long-term objectives. As a
technology leader the company generated sales of EUR34.5 billion as
targeted and achieved an adjusted margin of 11.3 percent. The return on
capital employed (ROCE) came to exactly 20 percent in 2014, thus having
risen for the fifth year in a row. Net indebtedness decreased further by
almost EUR1.5 billion to approximately EUR2.8 billion. The gearing ratio at
the end of the year was 25.6 percent.
For the current fiscal year, Continental aims to achieve a rise in sales of
almost 9 percent to around EUR37.5 billion, which includes a contribution
of at least EUR1.3 billion from the first-time consolidation of the
acquired company Veyance Technologies. The way things look now, it appears
that positive exchange rate effects could contribute an additional EUR1
billion to sales. The EBIT margin is expected to exceed 10.5 percent in
2015. Growth impetus is anticipated from Asia again, particularly China,
and from North America. For 2015, Continental expects global production of
vehicles weighing up to six tons to total approximately 89 million units.
"Continental has had a good start into 2015, thus confirming our
expectations for the entire year," said Chairman of the Continental
Executive Board, Dr. Elmar Degenhart, at the presentation of the
preliminary business figures in Hanover on Thursday. "We are pleased to
look back at another extremely successful financial year 2014, during which
we achieved our targets."
Degenhart continued: "When evaluating the results, we should not forget the
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