HANOVER (dpa-AFX) - Continental AG (CTTAY.PK) reported that, based on preliminary key data, net loss to the shareholders of the parent was 961.9 million euros for fiscal 2020, compared to a loss of 1.22 billion euros, prior year. Loss per share was 4.81 euros compared to a loss of 6.13 euros. Adjusted EBIT was down 58.7 percent to 1.33 billion euros. Adjusted EBIT margin was 3.5% compared to 7.3%.
Preliminary fiscal 2020 consolidated sales were 37.72 billion euros compared to 44.48 billion euros, prior year. Organic sales declined by 12.7 percent. Adjusted sales were 37.57 billion euros, down 15 percent from prior year. The production of passenger cars and light commercial vehicles decreased by 16 percent. Free cash flow before acquisitions and carve-out effects was 1.109 billion euros.
For fiscal 2021, Continental expects that global light vehicle production will increase by 9% to 12% from fiscal 2020. Consolidated sales are expected to be approximately 40.5 to 42.5 billion euros and the adjusted EBIT margin is anticipated to be in the range of approximately 5% to 6%. Free cash flow before acquisitions and excluding carve-out effects is expected to be in the range of approximately 0.9 to 1.3 billion euros.
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