Continental: tyres inflated as FY outlook adjusted
(CercleFinance.com) - Consolidated sales came in at 9.
3 billion euros in Q1 2022 (+8.2% vs. E8.6bn in Q1 2021), while adjusted EBIT amounted to 439 million euros (-39.8% vs. E728m in Q1 2021), i.e. an adjusted EBIT margin of 4.7% (vs. 8.5% in Q1 2021).
In Q1 2022, Continental generated net income of 245 million euros (Q1 2021: E448m for continuing and discontinued operations). Adjusted free cash flow amounted to -174 million euros (Q1 2021: E646m for continuing and discontinued operations).
Continental has therefore adjusted its full-year outlook. Consolidated revenues are now expected to be 38.3 to 40.1 billion euros (up from 38 to 40 billion euros), with an adjusted EBIT margin expected to be around 4.7% to 5.7% (less than around 5.5% to 6.5% previously).
The share is currently up about 1.5% on this news.
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