Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Tire
    • Airless Tires
    • Non-Tire
    • More News
    • Suppliers
    • Silicone
    • Latex
    • Technical Notebooks
    • Opinion
    • Online Exclusive
    • Special Reports
    • Automotive
    • Executive Action
    • Government/Legal
    • Sustainability
    • Blogs
      • Products
      • Wacky World of Rubber
    • Best Places to Work
    • War in Ukraine
    • Rubber Division IEC
    • ITEC
    • Women Breaking the Mold
  • PFAS
  • 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
    • PFAS Live
    • Ask the Expert
    • International Tire Exhibition & Conference (ITEC)
    • Women Breaking the Mold Networking Forum
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
November 21, 2016 01:00 AM

Continental operating earnings drop in third quarter

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

    HANOVER, Germany—Continental A.G. suffered double-digit drops in operating income for the quarter and nine months ended Sept. 30, in large part due to warranty cases and antitrust proceedings related to the firm's automotive divisions.

    Conti's tire business, by contrast, reported just a slight drop (1.5 percent) in pre-tax operating earnings for the quarter and showed a gain of 5.4 percent for the nine months.

    For the quarter, Conti's corporate operating income fell 42.4 percent to $662.6 million on 3.8-percent higher sales of $11.1 billion. The operating ratio fell four points to 6 percent.

    For the nine-month period, operating income fell 10 percent to $3.21 billion on 2.8-percent higher sales of $33.4 billion, which yields an operating ratio of 9.6 percent, down about one point from a year earlier.

    The tire division—which accounts for 26 percent of Conti's overall business—reported operating income for the quarter of $731.1 million on 2-percent higher sales of $3 billion, for a 24.3-percent operating ratio.

    For the nine months, operating income was up to $2.32 billion on 2.5-percent better sales of $8.79 billion.

    Conti did not give a forecast for the tire business but said the outlook for the Rubber Group was for an operating margin of more than 17 percent on sales of $17.8 billion.

    For the full year, Conti expects $167 million of positive effect from lower raw materials costs, including an estimate of $1.40/kilogram for the average price of natural rubber (TSR 20) for 2016.

    In the Tire division, production capacity was expanded in Europe, North America and Asia.

    Related Articles
    Conti appoints first corporate technology officer
    Continental pays $140 million for Hoosier
    Conti rubber business posts flat third quarter
    Mud slinging in Ole Miss; Conti breaks ground on commercial plant
    Conti ads are 'ode' to college basketball
    ContiTech to build plant in China
    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
    Tayte French Lutz named French Oil CEO
    2
    PFAS regs and litigation—attorneys' perspective
    3
    Without 'serious progress' in negotiations UAW strike will expand Friday
    4
    Public responds to PFAS restriction proposal
    5
    Guest Column: Some parts of the new EV supply chain are going to be trouble
    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
    • 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
      • Tire
      • Airless Tires
      • Non-Tire
      • More News
        • Automotive
        • Executive Action
        • Government/Legal
        • Sustainability
        • Blogs
          • Products
          • Wacky World of Rubber
      • Suppliers
      • Silicone
      • Latex
      • Technical Notebooks
      • Opinion
      • Online Exclusive
      • Special Reports
        • Best Places to Work
        • War in Ukraine
        • Rubber Division IEC
        • ITEC
        • Women Breaking the Mold
    • PFAS
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • International Tire Exhibition & Conference (ITEC)
        • Women Breaking the Mold Networking Forum
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
      • PFAS Live
      • Ask the Expert
    • Advertise
    • DIGITAL EDITION