Conti reports steady progress in H1, despite raw materials increases

Hanover, Germany - In the first six months of 2006, Continental AG's consolidated sales rose 6.2 percent to €7231 million compared with the same period a year ago (€6808 million). Before changes in the scope of consolidation and exchange rate effects, consolidated sales also increased by 6.2 percent. EBIT was up by 17.1 percent or €112.8 million before changes in the scope of consolidation and one-time effects. Altogether, EBIT improved 5.3 percent to €722.0 million ( €685.7 million a year ago). The return on sales amounts to 10.0 percent, which is unchanged from the previos year.

In the car and light truck tyre division sales rose by 7.8 percent to €2834 million, while margins declined. EBIT in the first six months of 2006 was 9.4 percent compared with 11.9 percent a year earlier.

The truck tyre division sales rose 10.5 percent to €719.1 million whie margins (EBIT) also fell to 6.1 percent, from 7.8 percent in the first half of 2005.

At Contitech sales remained static at €1475 million, while margins increased to 11.9 percent, from 8.8 percent.

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Press releasefrom Conti

Headline Source (country)

Continental AG Q2 EBIT falls due to one-off restructuring charges Forbes (Germany)