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Continental boosts earnings on higher pricing, lower inventories

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Continental boosts earnings on higher pricing, lower inventories

© Reuters. FILE PHOTO: Logo of German tyre company Continental is pictured before the annual news conference in Hanover, Germany, March 9, 2021. REUTERS/Fabian Bimmer/File Photo

The German multinational auto parts manufacturer adjusted the outlook for the adjusted margin of its tires business upwards to 12.5-13.5% from 12-13% previously, as higher pricing compensated for a decline in North America and Europe. Continental struggled in the second quarter with freight costs, currency effects, and reducing working capital but took a more positive tone on Wednesday, with earnings up 7.1% from the previous year to 637 million euros .

"We still have significant ground to gain in the fourth quarter," Chief Financial Officer Katja Garcia Vila, formerly Dürrfeld, said.

 

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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.
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