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DGAP-Adhoc Continental Announces Outlook for Fiscal 2021

Nachrichtenquelle: EQS Group AG
09.03.2021, 07:46  |  150   |   |   

DGAP-Ad-hoc: Continental AG / Key word(s): Forecast/Annual Results
Continental Announces Outlook for Fiscal 2021

09-March-2021 / 07:46 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


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.

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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 an outlook for fiscal 2021 as follows:

  • Consolidated sales are expected to be approximately €40.5 to €42.5 billion and the adjusted EBIT margin is anticipated to be in the range of approximately 5% to 6%.
  • Sales in the Automotive business areas - Autonomous Mobility and Safety, Vehicle Networking and Information as well as Powertrain - is expected to be approximately €24.0 to €25.0 billion and the adjusted EBIT margin in the range of approximately 1% to 2%. This outlook considers additional logistics expenses from supply chain constraints related to semiconductor components of about €200 million as well as additional expenses for research and development of about €200 to €250 million in the business area Autonomous Mobility and Safety.
  • Sales in the Rubber business areas - Tires and ContiTech - is expected to be approximately €16.5 to €17.5 billion and the adjusted EBIT margin in the range of approximately 11.5% to 12.5%. The adjusted EBIT margin range anticipates higher year-on-year raw material costs of around €200 million that will predominately affect Tires.
  • Free cash flow before acquisitions and excluding carve-out effects is expected to be in the range of approximately €0.9 to €1.3 billion. This range assumes capital expenditures before financial investments of approximately 7% of consolidated sales and cash outflows of approximately 700 million Euro for the Transformation 2019-2029 structural program.

Based on preliminary key data, the key financial results of fiscal 2020 are as follows:

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DGAP-Adhoc Continental Announces Outlook for Fiscal 2021 DGAP-Ad-hoc: Continental AG / Key word(s): Forecast/Annual Results Continental Announces Outlook for Fiscal 2021 09-March-2021 / 07:46 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, …

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