(News Bulletin 247) – Continental announces that its consolidated sales reached 39.4 billion euros in 2022, up 16.7% compared to 2021.
At the same time, adjusted EBIT increased by 5.2% to 2 billion euros.
However, operating profit fell by 59.1%, from 1.8 MdE to 755 ME. The decline is even more marked for the net result which yields 95.4%, and goes from 1.4 MdE in 2021 to 67 ME in 2022.
Continental says the company’s performance has been particularly affected by the effects of the war in Ukraine, restrictions due to the coronavirus pandemic in China, the continued shortage of semiconductors and the additional costs of approximately 3, 3 billion euros resulting from the increase in the prices of raw materials, semi-finished products, energy and logistics.
“Given the many challenges, we performed well operationally in 2022. We met our sales and profit forecasts for the Continental Group and achieved a respectable result,” comments Nikolai Setzer, Managing Director.
For 2023, Continental anticipates a consolidated turnover of between 42 and 45 billion euros.
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