HANOVER, Germany—Continental A.G. said it remains on the road to success despite rather weak economic conditions in the automotive industry, particularly in the U.S.
In the first nine months, Conti reported consolidated sales jumped 11.1 percent to $12.3 billion. Phoenix A.G., the rubber products maker Conti acquired in 2004 and integrated into its ContiTech unit, contributed $881.9 million in sales.
Before consolidation changes and exchange rate effects, consolidated sales increased 4.2 percent. Consolidated operating profits climbed 35.9 percent to $1.37 billion, with a return on sales of 11.1 percent.
Consolidated net earnings skyrocketed 54.9 percent to $881.9 million from $569.2 million.
The passenger and light truck tires division saw sales improve 8.5 percent in the first nine months over 2004 to $3.86 billion. Pretax earnings grew 59.7 percent to $577.1 million, increasing the earnings/sales ratio to 15 percent.
Sales by the commercial vehicle tires unit fell 8.6 percent during the period to $1.2 billion, but pretax earnings jumped 50 percent to $136.4 million, Conti reported.