Continental AG Q1 2024 Preliminary Figures Fall Short of Market Expectations

• Continental AG released preliminary figures for Q1 2024, with consolidated sales of around €9.8 billion, below the consensus of €10.0 billion.
• The adjusted EBIT margin is expected to be around 2.0%, lower than the consensus of 3.7%.
• In the Automotive group sector, sales were around €4.8 billion, with an expected adjusted EBIT margin of -4.3%. The deviation in sales was due to lower volume in Europe and pending contract renegotiation.
• The Tires group sector reported sales of around €3.3 billion, with an expected adjusted EBIT margin of 11.7%. FX continues to be a burden.
• The ContiTech group sector had sales of around €1.6 billion, with an expected adjusted EBIT margin of 5.4%. Industry demand continues to be weak.
• The adjusted free cash flow for the Continental Group is expected to be around -€1.1 billion, with the payment for the reacquisition of the ContiTech AG shares amounting to approx. €500 million being a burden in the first quarter.

The price of Continental at the time of the news was 64,23EUR and was down -2,00 % compared with the previous day.
16 minutes after the article was published, the price was 63,80EUR this corresponds to a minus of -0,67 % since publication.
At this time, the index DAX was at 17.784,00PKT (-0,54 %).

Continental

-2,84 %

-2,37 %

-8,87 %

-17,55 %

-3,39 %

-42,49 %

-54,09 %

-59,59 %

-23,06 %

ISIN:DE0005439004WKN:543900

• Intraday
• 5 Tage
• 1 Monat
• 3M
• 1 Jahr
• 3J
• 5J
• 10J
• Max