Hannover, Germany--Continental AG says it "remains on course for success, having boosted its sales and earnings in the first quarter of 2005."
In the first quarter of 2005, consolidated sales rose by 8.9 percent to â‚¬3253.1 million from â‚¬2986.1 million the previous year, with Phoenix contributing â‚¬237.7 million to sales.
Capital expenditure was up significantly in the first quarter. "For the period to March 31, we spent EUR142.2 million on research and development or 4.4 percent of sales after 4.1 percent one year ago. We also invested EUR158.4 million in property, plant and equipment, and software. After three months, the capital expenditure ratio is up from 3.7 percent to 4.9 percent," said Manfred Wennemer , chairman of the Executive Board.
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Pres release from Continental