Conti registers positive quarter, upbeat about 2015

Hanover, Germany - Continental AG has posted a positive start to 2015 with sales rising by 14 percent year-on-year to around €9.6 billion in the first quarter.

Adjusted earnings was around €1 billion, said a Conti report on 30 April, adding that integration costs and one-time expenses for Veyance of €37 million had a negative effect on results in the first quarter.

“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 Elmar Degenhart.

Continental will present its full first-quarter results on 7 May.