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Continental: accounts in the red in Q1

( - In Q1, Continental's adjusted sales came to E9761m, -5.
1% on Q1 2023.

At the same time, adjusted EBIT fell by 65.8% to E196m, leaving Continental with a net loss (group share) of E53m, a far cry from the E382m net profit recorded twelve months earlier.

EPS came to -E0.27, compared with +E1.91 in Q1 2023.
Finally, adjusted FCF also deteriorated, to -E1.1bn (a 14% decline).

Despite a weak first quarter, we see sufficient potential for improvement in all the Group's sectors, which is why we are confirming our outlook for fiscal 2024, said Katja Garcia Vila, Continental's CFO.

As a reminder, the manufacturer is targeting sales of between 41 and 44 billion euros in 2024,%. with an adjusted EBIT margin of around 6 to 7%.

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