Conti rubber units expect sales growth in second quarter

Hanover, Germany – Continental AG expects its rubber-based businesses to deliver marginal sales growth in the second quarter of 2023 – 'in line with market expectations'.

Tires group sales are set to come in at €3.5 billion in the three months to end of June, up from €3.4 billion last year, Continental said in a preliminary results statement.

Sector adjusted EBIT margin is expected to reach 13.7%, up from the market expectation of 13.3% but down from last year’s 13.8%, the Hanover group reported 12 July.

Continental’s materials and industrial arm ContiTech is, meanwhile, on track to post second quarter sales of €1.7 billion, up from €1.6 billion reported last year.

Sector adjusted EBIT margin at ContiTech was, meanwhle, pegged at 6.4%, slightly below market expectations of 6.5%, but well above last year’s 4.9%.

Group-wide, Continental expects consolidated second quarter sales to come in at €10.4 billion, in line with market expectations and above the €9.4 billion reported last year.

Continental will present its second quarter results on 9 Aug.