Automotive supplier Continental AG (CTTAY.PK) said it is targeting for sales growth of nearly 5% to more than 34 billion euros in 2013, with adjusted EBIT margin likely to exceed 10%.
Despite slumping auto markets in Europe, the corporation boosted 2012 sales by over 7% to nearly 32.7 billion euros. At about 10.7%, the adjusted EBIT margin topped last year's figure of 10.1%.
Elmar Degenhart, Chairman of the Executive Board of Continental noted, "In 2013, we expect global production of passenger cars with a gross weight of up to six tons to increase from around 80 million units in 2012 to a mere 82 million."
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