HANOVER (dpa-AFX) - German automotive supplier and tire manufacturer Continental AG (CTTAY.PK) said it expects consolidated sales for fiscal 2019 to be in the range of about 45 billion euros to 47 billion euros and an adjusted EBIT margin in the range of about 8% to 9%.
In comparison, according to preliminary key data, fiscal 2018 sales were around 44.4 billion euros and the fiscal 2018 adjusted EBIT margin was around 9.2%. With average analyst estimates for the current fiscal year's adjusted EBIT margin at about the same level as the preliminary adjusted EBIT margin for 2018, substantial parts of the expected adjusted EBIT margin range for the current fiscal year therefore lie below analyst expectations.
The company said it will release its full outlook for the current fiscal year as well as preliminary 2018 business figures on March 7, 2019.
Copyright RTT News/dpa-AFX