Hanover, Germany – Continental AG has released a brief summary of its financial results for the first quarter of 2017 ahead of its annual general meeting on 28 April.
The German automotive and industrial supplier said sales rose by 11.7% to €11 billion in first three months of the year, compared to the same period last year.
Adjusted operating earnings (adjusted EBIT), said Conti, was €1.2 billion with a 10.7% margin.
The company stated that its automotive group made a “considerable contribution” to the group’s organic growth.
“Continental made a very good start to the new fiscal year in a volatile environment,” said chairman Elmar Degenhart.
Despite increased raw material costs, he said, all indications suggest that the company “will comfortably achieve the ambitious targets we set ourselves for 2017.”
Continental will present its business figures for the first quarter on 9 May.