Continental boosts earnings on higher pricing, lower inventories

Logo of German tyre company Continental is pictured before the annual news conference in Hanover, Germany, March 9, 2021. REUTERS/Fabian Bimmer/File Photoreported earnings in line with consensus on Wednesday as successful price negotiations, lower inventory and stabilised supply chains enabled it to boost the performance of its automotive business and increase free cash flow.

The company also said it now expects global production of passenger cars and light commercial vehicles to grow by 5-7% this year, up from its former forecast of 3-5%. It had managed to reduce inventories and would carry on doing so in the fourth quarter in order to hit its adjusted free cash flow target of 0.8-1.2 billion euros, a steep jump from the 497.3 million loss reported so far between January to September.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Continental boosts earnings on higher pricing, lower inventoriesContinental boosts earnings on higher pricing, lower inventories
Source: Investingcom - 🏆 450. / 53 Read more »

Europe's 1st continental spaceport is open for business in NorwayRobert Lea is a science journalist in the U.K. whose articles have been published in Physics World, New Scientist, Astronomy Magazine, All About Space, Newsweek and ZME Science. He also writes about science communication for Elsevier and the European Journal of Physics. Rob holds a bachelor of science degree in physics and astronomy from the U.K.
Source: SPACEdotcom - 🏆 92. / 67 Read more »