Continental Half-Year Report 2023
- Consolidated sales of €10.4 billion (Q2 2022: €9.4 billion, +10.4 percent)
- Adjusted EBIT of €497 million (Q2 2022: €401 million, +24.1 percent)
- Adjusted EBIT margin of 4.8 percent (Q2 2022: 4.3 percent)
- EBIT of €377 million (Q2 2022: -€165 million)
- Net income of €209 million (Q2 2022: -€251 million)
- Adjusted free cash flow of -€14 million (Q2 2022: -€687 million)
- CEO Nikolai Setzer: “Despite difficult market conditions, our Tires group sector ended the second quarter with good earnings once again”
- CFO Katja Dürrfeld: “We stabilized our adjusted free cash flow year-on-year as well as compared with the first quarter of 2023”
- High order intake in Automotive of €8.6 billion in the second quarter
- Adjusted outlook: sales in the Tires group sector of around €14.0 billion to €15.0 billion (previously: €14.5 billion to €15.5 billion); consolidated sales of around €41.5 billion to €44.5 billion (previously: €42 billion to €45 billion)
Continental ended the second quarter of 2023 with strong earnings again in the Tires group sector and high order intake in Automotive of around €8.6 billion. The ContiTech group sector achieved solid results, while earnings in Automotive fell short of expectations, mainly due to currency effects and continuing costs for special freight. Furthermore, inflation-related price negotiations scheduled for the second quarter are still ongoing. As a result of updated market expectations in the tire-replacement business, Continental has adjusted its outlook for sales in the Tires group sector and for consolidated sales. The outlook for the adjusted EBIT margins remains unchanged. The technology company therefore expects consolidated earnings to increase in the second half of the year.
