Hannover, Germany--Continental AG has reported record sales and earnings for the 12 months to December 2004. The company used some of the income to reduced its debt to â‚¬695.0 million (2003: â‚¬1,168.6 million), and projected further acquisitions in the coming months.
Overall (consolidated) sales were up by 9.2 percent to â‚¬12 600 million. Phoenix contributed â‚¬160.2 million to consolidated sales from November. Conti also said its operating result (EBIT) increased by 28.2% to â‚¬1,096 million (2003: â‚¬855 million)
The company said sales of the passenger and light truck tyre division rose by 7.4 percent before foreign exchange effects. Taking exchange rate effects into account, sales improved by 5.0 percent from â‚¬3907 million to â‚¬4104 million.
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Press release from Conti