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Continental: speeding off after Q1 results

( - Continental shares are up nearly 4% in Frankfurt today after it reported a 59.
6% jump in net income to E382m for Q1 2023, as well as a one-point improvement in its adjusted operating margin to 5.6%.

The German tyre and automotive equipment manufacturer's sales increased 11.1% to E10.3bn, significantly outperforming global passenger car production (up 6%).

On this basis, Continental has confirmed its targets for FY 2023, including sales of about 42 to 45 billion euros, an adjusted operating margin of 5.5% to 6.5%, and adjusted FCF of around 0.8 to 1.2 billion euros.

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