Results Q1 2024
After a Weak Start: Continental Confirms Its Full-year Outlook
Despite the weak first quarter, we see sufficient potential for improvement across all group sectors, which is why we are confirming our outlook for fiscal 2024.
- Consolidated sales of €9.8 billion (Q1 2023: €10.3 billion, -5.0 percent)
- Adjusted EBIT of €196 million (Q1 2023: €574 million, -65.8 percent)
- Adjusted EBIT margin of 2.0 percent (Q1 2023: 5.6 percent)
- Net income of -€53 million (Q1 2023: €382 million, -113.9 percent)
- Adjusted free cash flow of -€1.1 billion (Q1 2023: -€949 million, -14.4 percent)
- CEO Nikolai Setzer: “We are pursuing our goals resolutely and sustainably. We are on track with the implementation of our measures to achieve our mid-term targets. And in 2024 we will be taking another step forward”
- CFO Katja Garcia Vila: “Despite the weak first quarter, we see sufficient potential for improvement across all group sectors, which is why we are confirming our outlook for fiscal 2024”
- Automotive: start of production of new high-performance computer in China
- Tires: serial test winner
On May 8, 2024, at 7:30 am CEST, Continental released its Q1 2024 results. Our CFO Katja Garcia Vila conducted an analyst and investor conference call presenting the Q1 2024 results.
- Press release - pdf (168KB)
- Quarterly Statement as at March 31, 2024 - pdf (320KB)
- Presentation - pdf (675KB) to the analyst and investor conference call
- Webcast
After a weak first quarter in 2024, Continental expects earnings to improve as the year progresses – particularly in the second half of the year. Based on this, the DAX company is confirming its full-year outlook, as already announced together with the publication of its key figures for the first quarter on April 16, 2024. Overall, Continental still anticipates consolidated sales for 2024 of around €41.0 billion to €44.0 billion and an adjusted EBIT margin of around 6.0 to 7.0 percent.
