Economy

Continental forecasts secure manufacturing regardless of commerce worries

Continental, Europe's largest publicly traded automotive expertise supplier, warned of a number of dangers for the sector, however stated manufacturing must be secure this 12 months regardless of the average begin.

"Danger elements embrace unclear ramifications of the financial system growth in China and commerce disputes between america and China and between america and Europe – and there may be additionally the unsure state of affairs with the Brexit, "stated Wolfgang Schäfer, group finance chief.

Continental stated its personal gross sales are anticipated to extend barely this 12 months between 45 and 47 billion euros. EUR, with margins falling inside a spread of eight to 9%.

In its 2018 outcomes launched on Thursday, the Hannover-based group introduced a decline in its internet revenue. EUR 2.9 billion, gross sales grew by lower than 1% to EUR 44.four billion and working margins rose from 10.eight% to 9.three%.

The outcomes had been as much as expectations, however solely after the group launched two warnings on its income in 2018 – a 12 months wherein its shares went from a most of 250 € in mid-January to 120 € on the finish of December.

Originally of 2018, Continental had forecast gross sales of "about" 47 billion and margins of 10.5 %.

The group was optimistic about future developments within the automotive trade. "We’re offering expertise that others are testing," stated Basic Supervisor Elmar Degenhart. "Our expertise affords improved security, effectivity and luxury in 4 out of 5 autos worldwide."

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