German automotive supplier Continental AG (CTTAY.PK) reported that its first-quarter net income attributable to the shareholders of the parent decreased to 441.2 million euros, from last year's 482.9 million euros, with earnings per share declining to 2.21 euros from 2.41 euros in the year ago quarter.
The operating result or EBIT for the quarter decreased year-on-year by or 5 percent to 747 million euros. This was due partly to persistently high research and development expenses, which climbed to 8.7 percent of sales in the Automotive Group.
Quarterly sales declined to 8.03 billion euros from the prior year's 8.32 billion euros.
Sales were down 3.4 percent from the same quarter of the previous year. Due to the leap year in 2012 and the early Easter holidays in 2013, the first quarter had three fewer working days than the same period of the previous year. In many countries, this had a negative impact on the development of passenger car production and tire sales volumes. Furthermore, the unusually long period of cold weather affecting large parts of Northern Europe meant that drivers changed over to summer tires later than usual, the company said.
Before changes in the scope of consolidation, adjusted sales for the quarter were 7.99 billion euros, down from 8.32 billion euros last year.
For fiscal 2013, the company still anticipates a rise in sales of around 5 percent to more than 34 billion euros and an adjusted EBIT margin of over 10 percent, particularly since we have already hit these targets in the first quarter despite all the adverse circumstances.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.