Continental Confirms Sales and Earnings Outlook for 2022

Consolidated sales of €10.4 billion (Q3 2021: €8.0 billion, +29.3 percent) Adjusted EBIT of €605 million (Q3 2021: €412 million, +46.7 percent) “We managed to significantly improve our adjusted operating result in the Automotive group sector over the past quarter. This was a direct result of the measures taken, in particular the price agreements concluded with our customers due to the substantial increase in costs. In light of the challenging environment, we did well to achieve our third-quarter forecast, but our financial results are not in line with our medium-term targets. However, we are on the right track and our order intake remains high,” said Continental CEO Nikolai Setzer. In addition to price agreements with customers, Continental has initiated a number of further measures to overcome the various challenges. These measures include purchasing raw and other materials from multiple suppliers, implementing more focused cost management, and monitoring the procurement and logistics chain for electronics more closely.