Continental: will do better than expected in 2017
(CercleFinance.com) - Continental, the German automotive component supplier, said yesterday that on a provisional basis, its billings increased - excluding FX factors and changes in its consolidation scope - by over 8% in 2017, to 44 billion euros.
Q4 proved to be "robust", both in terms of revenue and profitability, management said. Meanwhile, the group's adjusted operating margin also increased to reach "approximately" 10.8%.
In both cases, management's forecasts were exceeded.
In 2018, Continental expects to report revenues of around 47 billion euros for an adjusted operating margin of around 10.5%. Note that global production of vehicles is expected to rise by just over 1%, to 97 million units.
The group's final accounts will be published on 8 March.
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