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    CON   DE0005439004

CONTINENTAL AG

(CON)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 07/23 03:59:58 pm
117.61 EUR   +2.73%
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Alliance for 100 percent renewable energy: Vitesco Technologies...

06/09/2021 | 08:33am EDT
  • Global initiative of 'The Climate Group' and 'Carbon Disclosure Project' (CDP) with more than 300 member companies
  • Joint commitment at international and local level to the expansion of renewable energy sources worldwide
  • Goal of climate-neutral production: Vitesco Technologies has already reduced direct and indirect CO2 emissions for operational activities by almost 90 percent since 2020

Regensburg, June 9, 2021. In the course of its spin-off from Continental, Vitesco Technologies, a leading international provider of modern drive technologies and electrification solutions, has become an independent member of the RE100 alliance. This global initiative with more than 300 member companies worldwide is committed to 100 percent renewable electricity.

'As part of our DIRECTION 2030 strategy, we at Vitesco Technologies are pursuing the goal of climate-neutral production by 2030,' explains Hans-Jürgen Braun, Senior Vice President Operations at Vitesco Technologies. 'Our Membership in the RE100 alliance is of central importance to us in this regard. Since 2020, all of our production sites worldwide have been sourcing 100 percent electricity from renewable energy sources. This has already enabled us to reduce direct and indirect CO2 emissions for our operational activities by almost 90 percent.'

© The Climate Group

'The switch to green power is an important milestone in our decarbonization efforts and part of our comprehensive environmental strategy and sustainability agenda,' added Christoph Seifert, head of environmental protection at Vitesco Techologies: 'Further steps towards completely climate-neutral production at Vitesco Technologies include: increased energy efficiency and corresponding certification of the sites as well as own photovoltaic systems. New construction projects, such as the future headquarters in Regensburg, will be designed to be CO2-neutral from the outset. The need for fossil fuels will be reduced to an absolute minimum and fully compensated.'

Sam Kimmins, Head of RE100, The Climate Group said: 'I am delighted to welcome Vitesco Technologies to RE100. By committing to 100 percent renewable electricity by 2030, Vitesco Technologies joins over 300 of the world's leading businesses committed to driving market change. This sends a powerful message that renewable electricity makes good business sense, and we encourage others to follow'.

Disclaimer

Continental AG published this content on 09 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 June 2021 12:32:05 UTC.


© Publicnow 2021
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Sales 2021 41 862 M 49 267 M 49 267 M
Net income 2021 1 285 M 1 512 M 1 512 M
Net Debt 2021 3 165 M 3 724 M 3 724 M
P/E ratio 2021 18,3x
Yield 2021 2,09%
Capitalization 22 897 M 26 934 M 26 947 M
EV / Sales 2021 0,62x
EV / Sales 2022 0,56x
Nbr of Employees 234 999
Free-Float 54,0%
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Number of Analysts 24
Last Close Price 118,00 €
Average target price 132,55 €
Spread / Average Target 12,3%
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Managers and Directors
Nikolai Setzer Chairman-Executive Board
Wolfgang Schäfer Head-Finance, Controlling, Compliance & Law
Wolfgang W. Reitzle Chairman-Supervisory Board
Gunter Dunkel Independent Member-Supervisory Board
Siegfried Wolf Independent Member-Supervisory Board
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