HANOVER (dpa-AFX) - Continental AG (CTTAY.PK) reported that its first quarter net income attributable to the shareholders of the parent dropped to 245.4 million euros or 1.23 euros per share from 447.6 million euros or 2.24 euros per share in the prior year.
But sales for the quarter increased 8.2 percent to 9.3 billion euros from 8.6 billion euros in the prior year.
For the year as a whole, the company anticipates an adjusted free cash flow of around 0.6 billion euros to 1.0 billion euros.
After a production output of 77.1 million passenger cars and light commercial vehicles last year, Continental expects an increase of between 4 and 6 percent for the year as a whole compared to the prior outlook of 6 to 9 percent growth.
Continental has adjusted its outlook for the year as a whole, as reported on April 21, 2022. Annual sales are now expected to be around 38.3 billion euros to 40.1 billion euros compared to the prior outlook of 38 billion euros to 40 billion euros.
By 2050 at the latest, Continental aims to use 100 percent sustainable materials in its tire production.
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