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MarketScreener Homepage  >  Equities  >  Xetra  >  Continental AG    CON   DE0005439004

CONTINENTAL AG

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Continental : Tyre makers Continental, Michelin plan joint venture - filing

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09/11/2019 | 12:30pm EDT
FILE PHOTO: Bibendum, the Michelin Man mascot, is seen ahead of a news conference to present the company's 2018 annual results in Paris

FRANKFURT (Reuters) - German automotive supplier Continental and France's Michelin plan a joint venture related to tyre production, according to a list of mergers under review published by the German antitrust authority.

The venture, in which French farming technology firm SMAG is also listed as a partner, would be based in Singapore, according to the Aug. 29 filing published on the Federal Cartel Office's website.

Sources close to Continental and Michelin clarified that the venture was called Rubberway, a mobile application launched by the French company in support of its policy of sourcing the raw material sustainably.

(Reporting by Matthias Inverardi and Jan Schwartz; Writing by Douglas Busvine; Editing by Edmund Blair and Jonathan Oatis)

Stocks mentioned in the article
ChangeLast1st jan.
CONTINENTAL AG 0.34% 123.44 Delayed Quote.1.80%
MICHELIN 0.15% 102.6 Real-time Quote.18.17%
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Financials (EUR)
Sales 2019 44 518 M
EBIT 2019 3 261 M
Net income 2019 2 000 M
Debt 2019 3 586 M
Yield 2019 3,18%
P/E ratio 2019 12,4x
P/E ratio 2020 9,90x
EV / Sales2019 0,63x
EV / Sales2020 0,60x
Capitalization 24 585 M
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Mean consensus HOLD
Number of Analysts 27
Average target price 129,23  €
Last Close Price 123,32  €
Spread / Highest target 46,0%
Spread / Average Target 4,79%
Spread / Lowest Target -32,5%
EPS Revisions
Managers
NameTitle
Elmar Degenhart Chairman-Executive Board
Wolfgang W. Reitzle Chairman-Supervisory Board
Wolfgang Schäfer Head-Finance, Controlling, Compliance, Law & IT
Michael Iglhaut Member-Supervisory Board
Dirk Nordmann Member-Supervisory Board
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