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Germany's Continental makes profit, lifts outlook

Germany's Continental makes profit, lifts outlook

Tire and car parts maker Continental AG has reported a third-quarter net profit, helped by a 22 percent rise in revenue, and lifted earnings targets as the auto industry pulls out of the economic crisis.
Continental reported Wednesday earnings of (EURO)14.1 million ($19.7 million) for July-September compared with a loss of (EURO)1.04 billion a year earlier. Sales rose to (EURO)6.49 billion from (EURO)5.34 billion.
The company says it is raising its full-year outlook and now expects revenue of more than (EURO)25 billion. But it cautioned that net earnings won't keep pace with an improved pre-tax profit margin because of expenses related to a loan and tax assets.
Continental earned (EURO)363 million in January-September after losing nearly (EURO)1.5 billion a year earlier. Sales climbed to (EURO)19.14 billion from (EURO)14.4 billion.


Updated : 2021-06-17 13:11 GMT+08:00