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Continental AG FY17 Profit Rises, Ups Dividend; Backs FY18 Outlook - Quick Facts

Continental AG (CTTAY.PK) reported Thursday that fiscal 2017 net income increased 6.5 percent from last year to 3 billion euros or 14.92 euros per share.

The technology company's EBIT rose 11.4 percent to approximately 4.6 billion euros in fiscal 2017. The EBIT margin came to 10.4 percent after 10.1 percent in fiscal 2016.

Adjusted EBIT amounted to over 4.7 billion euros in 2017, up 10 percent from last year. This corresponds to an adjusted EBIT margin of 10.9 percent, higher than 10.6 percent in 2016.

Sales climbed 8.5 percent to 44.0 billion euros. Organic sales growth, i.e. adjusted for changes in the scope of consolidation and exchange-rate effects, came to 8.1 percent.

Incoming orders in the Automotive Group reached almost 40 billion euros.

Further, the company said its Executive Board proposed a dividend increase of 25 cents to 4.50 euros per share, which will be the sixth increase in a row.

Looking ahead, the company expects profitable growth to continue in 2018 and confirmed outlook.

For the current year, the company still anticipates a significant rise in sales of just under 7 percent to approximately 47 billion euros before exchange-rate effects, with an adjusted EBIT margin of around 10.5 percent. This is based on growth in the global production of passenger cars and light commercial vehicles of more than 1 percent to 96.5 million vehicles.

by RTT Staff Writer

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