HANOVER, Germany—Continental A.G. expects its rubber-based businesses to deliver marginal sales growth in the second quarter of 2023—"in line with market expectations."
Tire group sales are set to come in at about $3.9 billion in the three months to end of June, up from $3.5 billion last year, Continental said in a preliminary results statement July 12.
Sector adjusted EBIT margin is expected to reach 13.7 percent, up from the market expectation of 13.3 percent, but down from last year's 13.8 percent, the company said.
Continental's materials and industrial arm ContiTech is, meanwhile, on track to post second quarter sales of $1.9 billion, up from about $1.6 billion reported last year.
Sector adjusted EBIT margin at ContiTech was pegged at 6.4 percent, slightly below market expectations of 6.5 percent, but well above last year's 4.9 percent.
Group-wide, Continental expects consolidated second quarter sales to come in at about $11.7 billion, in line with market expectations and above the $9.8 billion reported last year.
Continental will present its second quarter results on Aug. 9.
