Hanover, Germany – Continental Corp.’s rubber group has posted an 8% year-on-year decline in earnings (EBIDTA) at €3.19 billion for full year 2018.
Sales for the segment, which includes the tire division and ContiTech, rose 6% for the year to €17.60 billion, Continental said in its preliminary results published 7 March.
Tire sales remained flat for the period at. €11.3 billion, while earnings fell 9.2% to just under €2.5 billion.
Industrial parts and systems division, ContiTech reported a 6.5% decline in earnings at €701 million on 1% higher sales at €6.3 billion.
In its annual results press release, Conti said it had sold a record 155 million passenger car and truck tires last year but did not elaborate further.