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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.
At its meeting today, the Supervisory Board of Continental AG appointed Olaf Schick (52) as the company’s new chief financial officer (CFO) effective July 1. In addition to Group Finance and Controlling, Schick will remain responsible for Group Law and Intellectual Property, Group Compliance, Group Internal Audit, Group Quality Management and Group Risks and Controls, all of which are currently part of the Integrity and Law function.
Due to the increasingly dynamic markets in the automotive industry, the Continental Executive Board has decided, following a strategic review, to conduct a further detailed evaluation on spinning off the Automotive group sector. The aim of having two independent companies is to fully harness Continental’s value and growth potential.
Continental ended the second quarter of 2024 in line with its expectations. As announced, the company significantly increased earnings in all three group sectors compared with the first quarter of this year. The technology company also posted much stronger earnings year-on-year.
