Continental Corporation, the international automotive supplier, tire manufacturer, and industrial partner, had a positive start to 2015.
In the first quarter of 2015, its sales climbed by 14 percent year-on-year to around €9.6 billion and the adjusted EBIT rose to around €1 billion.
Integration costs and one-time expenses for Veyance of €37 million had a negative effect on the company results in the first quarter.
"Given the still only sluggish development in our sales markets, the start to the current year was very encouraging. We anticipate that the replacement tire market in Europe will improve in the quarters ahead.
As a result of the positive development in new registrations particularly in Western Europe, we also expect an increase in the number of passenger cars produced.
Accordingly, our sales and earnings will also continue to improve in the coming quarters," said Continental CEO Dr. Elmar Degenhart, at the Annual Shareholders' Meeting in Hanover, presenting the key data for the first three months.
Continental will present its figures for the first quarter of 2015 on May 7.
Continental develops intelligent technologies for transporting people and their goods. In 2014, the corporation generated sales of approximately €34.5 billion with its five divisions Chassis and Safety, Interior, Powertrain, Tires, and ContiTech. Continental currently employs approximately 200,000 people in 53 countries.
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