Hanover, Germany – Continental AG has reported a 5.0% drop in third-quarter sales at its Rubber Technologies business to €4.333 billion.
The adjusted EBIT margin, however, came in at 15.0% compared to 11.8% in the prior-year period, according to preliminary key data for the three months to 30 Sept.
The release did not include commentary on the changes in sales and profitability at Rubber Technologies, comprising Continental’s tires and ContiTech rubber components operations.
Year-on-year sales growth ‘before changes in the scope of consolidation and exchange-rate effects’ was -1.4%, the group further reported.
For the group as a while, Continental posted consolidated sales of €10.295 billion for the third quarter, 7.3% lower than a year ago, while the adjusted EBIT margin was 2.5 percentage points higher at 8.1%
Year-on-year sales growth ‘before changes in the scope of consolidation and exchange-rate effects’ was -2.7% across all Continental divisions.