Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Best Places to Work
    • Rubber Division IEC
    • War in Ukraine
    • Automotive
    • Tire
    • Non-Tire
    • Suppliers
    • ITEC
    • Silicone
    • Online Exclusive
    • Latex
    • Technical Notebooks
    • Executive Action
    • Government/Legal
    • Opinion
    • Blogs
    • Sustainability
    • Products
    • Wacky World of Rubber
  • Airless Tires
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • Ask the Expert
    • Healthcare Elastomers Conference
    • Rubber In Automotive Conference
    • Women Breaking the Mold Networking Forum
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
May 08, 2015 02:00 AM

Continental's operating income increases in quarter

Tire Business Report
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    HANOVER, Germany—Continental A.G. reported 8.3 percent higher pre-tax operating earnings for the quarter that ended March 31, and management is projecting Conti will “comfortably achieve” a full-year adjusted EBIT margin of more than 10.5 percent, owing to lower raw materials acquisition costs.

    The pre-tax earnings rose to $1.1 billion, Conti said, on sales of $10.8 billion. Sales were up 14 percent, largely on the first-time inclusion of revenue from the former Veyance Technologies industrial rubber products business.

    Conti CEO Elmar Degenhart said Conti expects earnings to benefit by about $170 million in lower raw materials acquisition costs, owing to the stable price trend for rubber and lower crude oil prices.

    Conti's tire division reported 6.3 percent better pre-tax operating income of $653.6 million on 4.4 percent higher sales of $2.73 billion. Conti said consumer original equipment sales volumes were up globally, as were replacement market consumer sales in the Americas.

    Commercial vehicle tire business was down.

    In a first quarter financial statement, Degenhart said the first quarter showed the company was “growing faster than the markets.”

    Furthermore, Continental said it continued to generate strong cash flow as in the previous fiscal year.

    Looking at the full year, Conti said it expects shipments of car and light truck tires in North America to fall about 2 percent short of 2014, primarily because of lower entry-level tire imports from China, which are subject to antidumping and countervailing duties of at least 31 percent.

    Commercial tire shipments in North America, on the other hand, are expected to grow about 3 percent, in line with the region's economic growth.

    Globally, Conti said it expects replacement market demand for consumer tires to grow nearly 3 percent, in line with previous forecasts, whereas stagnating European demand for replacement commercial vehicle tires prompted Conti to cut its growth forecast here in half, to just 1 percent.

    Related Articles
    Conti to invest $42.5 million for expansion in China
    ContiTech selects new leader for NAFTA region
    Conti petitions NHTSA for inconsequential noncompliance
    Conti collaborates with firms to build belts
    Conti's General Tire launches all-season Grabber
    ContiTech eyes growth from NAFTA base
    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    Trinseo: Equipment failure leads to latex emulsion leak into local waterway
    2
    EU approves Yokohoma's Trelleborg Wheel Systems purchase
    3
    Goodyear to extend EMEA shutdown on production
    4
    Michelin technology looks to curb wrong-way driving
    5
    Updated: Trinseo's latex emulsion spill not impacting Philadelphia drinking water
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • News
      • Best Places to Work
      • Rubber Division IEC
      • War in Ukraine
      • Automotive
      • Tire
      • Non-Tire
      • Suppliers
      • ITEC
      • Silicone
      • Online Exclusive
      • Latex
      • Technical Notebooks
      • Executive Action
      • Government/Legal
      • Opinion
      • Blogs
        • Products
        • Wacky World of Rubber
      • Sustainability
    • Airless Tires
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • Healthcare Elastomers Conference
        • Rubber In Automotive Conference
        • Women Breaking the Mold Networking Forum
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
      • Ask the Expert
    • Advertise
    • DIGITAL EDITION