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PRESS RELEASE: Continental AG: Continental Posts Further Growth in 2013 and Exceeds Target for Adjusted EBIT

DGAP-News: Continental AG / Key word(s): Miscellaneous Continental AG: Continental Posts Further Growth in 2013 and Exceeds Target for Adjusted EBIT

13.01.2014 / 08:33

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Continental Posts Further Growth in 2013 and Exceeds Target for Adjusted EBIT

- International Automotive supplier publishes provisional key figures for fiscal 2013

- Sales climb to around EUR33.3 billion despite substantial negative exchange rate effects

- Outlook for 2014: Sales increase of around 5% targeted

Hanover, January 13, 2014. With an adjusted EBIT margin of 11.2%, the Continental Corporation significantly exceeded its target for fiscal 2013. Sales of the international automotive supplier, tire manufacturer, and industry partner increased slightly year-on-year to approximately EUR33.3 billion in 2013.

'Our strong commitment has paid off: We were able to more than offset the economic limitations in Southern Europe and some emerging markets. Our success was achieved in spite of considerable negative exchange rate effects due to the strong euro, which amounted to over EUR700 million. The adjusted EBIT of EUR3.7 billion represents an extremely strong performance by the whole Continental team. In 2013 we therefore achieved an impressive continuation of the successful path we have been pursuing for years,' said Continental's CEO Dr. Elmar Degenhart at the announcement of the provisional key figures on Monday during the Auto Show in Detroit, U.S.A.

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PRESS RELEASE: Continental AG: Continental Posts Further Growth in 2013 and Exceeds Target for Adjusted EBIT