- (PLX AI) - Continental cut its 2021 outlook as third-quarter revenue came in slightly below estimates.
- • Q3 revenue EUR 8,041 million vs. estimate EUR 8,080 million
- • Q3 adjusted EBIT margin 5.2%
- • Outlook FY revenue EUR 32,500-33,500 million, down from EUR 33,500-34,500 million
- • Outlook FY adjusted EBIT margin 5.2-5.6%, down from 6.5-7% previously
- • Given the ongoing constraints related to semiconductor components as well as uncertainties related to the supply chain and in customer demand, Continental expects that global light vehicle production growth in fiscal 2021 will be between -1% and +1% versus fiscal 2020. The Company's previous outlook from August 5, 2021 assumed global light vehicle production would grow by +8% to +10%
- • Negative effects from cost inflation for key inputs including electronics and electromechanical components for Automotive Technologies, raw materials for Rubber Technologies as well as energy and logistics are becoming more material, the company said
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