Continental Group achieves expected target for the whole year

According to information from the Continental Group, Continental Group Co., Ltd. International Automotive Co., Ltd. is moving toward the established goals, and confirmed the forecast for this fiscal year.

“We continue to insist that sales will reach at least 29.5 billion Euros. In addition, although the cost of raw materials greatly exceeds the expected amount, so that the realization of this goal currently looks very difficult, but we still believe that 2011 can reach the full Approximately 10% of the adjusted annual EBIT margin,” said Dr. Almar Degenhardt, chairman of the Executive Board of the Continental Group, in a recent statement. “We expect positive effects from the full use of production capacity. It can compensate for the negative effect caused by the rising cost of raw materials to some extent. Moreover, it seems that the orders of the Continental Group will be as stable as ever."

Compared with the same period of last year, Continental Group’s sales in the first nine months of 2011 increased by 18.0% to 22.6 billion Euros. At the same time, the international auto parts company's EBIT (EBIT) amounted to 1.9 billion euros, an increase of approximately 540 million euros from the same period of last year, which represents an increase of nearly 40%.