Continental: 'in line' first-quarter puts pressure on shares

(CercleFinance.com) - Continental on Thursday reported first-quarter results in line with analysts' estimates and maintained its full-year guidance, which sent its shares down as much as 4% in choppy trading.


Conti - which pre-released headline numbers in late April - said net income fell to 575 million euros in the first three months of the year, from 738 million euros a year ago.

At 884 million euros, adjusted EBIT was down 17.1% on sales that were pretty flat at 11 billion euros.

Continental still expects a the market to pick up in the second half of the year and is thus maintaining its annual guidance provided at the beginning of January.

This report has failed to convince investors, with the shares down 3.6% at 137 euros in Frankfurt this morning.

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