Conti reports record tire sale in 2016

Hanover, Germany – Continental AG has reported a “successful conclusion” to 2016 with a 3% year-on-year rise in sales to €40.5 billion and an adjusted EBIT margin of 10.7%.

Presenting the company’s preliminary key data during the North American International Auto Show in Detroit, Michigan, Chairman Elmar Degenhart said growth in Conti’s Rubber Group continued in 2016, with the record sale of 150 million tires.

“Despite persistently weak demand in the oil and mining business, ContiTech’s EBIT margin almost reached the double-digit level at the end of the year,” he added.

For 2017, said Degenhart, the group expects a 6% growth in sales due to anticipated slight increase in global production of passenger cars and light commercial vehicles.

Continental will release its preliminary business figures on 2 March, as part of its digital annual financial press conferenc.