HANOVER (dpa-AFX) - German automotive supplier and tire manufacturer Continental AG (CTTAY.PK) on Wednesday issued a new fiscal 2020 outlook, which was withdrawn earlier due to the uncertain consequences of the COVID-19 pandemic.
The company said its Executive Board now sees itself in a position to provide an outlook for fiscal 2020.
For the year, consolidated sales are expected to be around 37.5 billion euros and the adjusted EBIT margin is anticipated to be around 3 percent.
According to the company, there are no new, unexpected impacts from the ongoing COVID-19 pandemic on production, the supply chain or demand.
The company's fiscal 2019 sales were 44.48 billion euros and adjusted EBIT margin was 7.4 percent.
Sales in the Automotive business areas are expected to total around 22.0 billion euros and the adjusted EBIT margin is anticipated to be around negative 1.5 percent.
Sales in the Rubber business areas would be around 15.5 billion euros, with an adjusted EBIT margin of around 10.5 percent.
The capital expenditure ratio before financial investments is expected to be around 6.3 percent of sales.
Free cash flow before acquisitions and before carve-out effects is expected to be positive for fiscal 2020. However, the value is expected to be significantly lower than in the previous year.
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