HANOVER (dpa-AFX) - German automotive parts maker Continental AG (CTTAY.PK) reported Tuesday significantly higher profit in its second quarter, despite lower sales.
Looking ahead, Continental CFO Olaf Schick said, 'We continue to see solid earnings in all areas. Our adjusted operating result and adjusted free cash flow increased year-on-year in the first half of 2025. Continental is on the right track - despite constantly changing conditions.'
The company further said the listing of Automotive on the stock exchange is planned for September 18.
In the second quarter, net income attributable to the shareholders of the parent climbed 66 percent to 506 million euros from last year's 305 million euros. Earnings per share were 2.53 euros, higher than 1.52 euros a year ago.
Adjusted operating result or EBIT was 834 million euros, up 17.2 percent from 711 million euros a year ago. Adjusted EBIT margin was 8.7percent, up from 7.1 percent last year.
Due to the planned spin-off of the Automotive group sector, the accounting standard IFRS 5 has been applied as required.
Without application of IFRS 5, adjusted EBIT would have been 597 million euros, and 6.2 percent adjusted EBIT margin.
Consolidated sales dropped 4.1 percent to 9.59 billion euros from last year's 10 billion euros. Adjusted sales fell 3.9 percent.
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