Conti's Q3 figures boosted by Phoenix results

Hanover, Germany -- Continental AG says it remains on the road to success despite rather weak economic conditions in the automotive industry, particularly in the US.

In the first nine months Conti reported consolidated sales ahead by 11.1 percent to Euro 10 241 million from Euro 9,214 million a year earlier. The company said Phoenix contributed Euro 734.2 million in sales. Before consolidation changes and exchange rate effects, consolidated sales increased by 4.2 percent. The consolidated operating result (EBIT) was up 35.9 percent to Euro 1138 million from Euro 837.4 million, with a return on sales of 11.1 percent.

Consolidated earnings jumped 54.9 percent to Euro 734.6 million from Euro 474.1 million.

"In addition to the excellent operational performance, this is also a result of one-off effects," said Executive Board chairman Manfred Wennemer on Wednesday in Hanover. "There is no indication that this trend will change in the fourth quarter, so we will top our record figures from last year, even when the one-off effects are not taken into consideration."

This is an external link and should open in a new window. ERJ is not responsible for the content of external sites.

Press release from Conti

Continental AG Profit Rises on Tires, Electronics Bloomberg (Germany)

Continental AG eyes acquisitions, including Delphi assets - CFO UPDAT Forbes.com (Germany)