The Continental Corporation has reported a strong first quarter 2011, thus creating a solid foundation for the year as a whole. In the first three months, consolidated sales rose year-on-year by roughly one fifth to more than €7.3 billion. At nearly €634 million, the reported EBIT was some €140 million higher than the first quarter figure in 2010. The international automotive supplier presented these key figures on the occasion of its Annual Shareholders’ Meeting in Hanover on Thursday. The complete report on the first quarter of 2011 will be published on May 5.
“2011 began as we expected – despite the natural disaster in Japan and its aftermath. In face of the ongoing challenges, especially those presented by high raw material prices, we antici-pate at this point in time that we will comfortably achieve the targets we have set ourselves for this year. This is not, however, a sure-fire thing, but will require hard and dedicated work,” said Continental Executive Board chairman Dr. Elmar Degenhart. Continental wants to increase its sales in 2011 by ten percent to more than €28.5 billion, once again achieving an adjusted EBIT margin of 9.7 percent that it attained in 2010.