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MarketScreener Homepage  >  Equities  >  Xetra  >  Continental AG    CON   DE0005439004

CONTINENTAL AG

(CON)
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Continental says chip shortages to cause auto supply bottlenecks until 2021

12/04/2020 | 11:18am EST
FILE PHOTO: A worker constructs a Bentley Continental GT on the prodution line at the luxury automaker's manufacturing facility in Crewe

HAMBURG (Reuters) - German auto supplier Continental said on Friday that a rebound in Chinese demand following a global slump in sales caused by COVID-19 is leading to a shortage of semiconductors that may cause supply-chain bottlenecks until 2021.

"Although semiconductor manufacturers have already responded to the unexpected demand with capacity expansions, the required additional volumes will only be available in six to nine months," Continental said of the supply of semiconductors.

"Therefore, the potential delivery bottlenecks may last into 2021."

Earlier on Friday, Volkswagen said China's overall auto production could be interrupted after the COVID-19 pandemic disrupted chip supplies globally for some electronic components.

(Reporting by Jan Schwartz; Writing by Edward Taylor; Editing by Douglas Busvine)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CONTINENTAL AG -2.51% 118.55 Delayed Quote.-2.23%
VOLKSWAGEN AG 1.88% 165.08 Delayed Quote.8.31%
VOLKSWAGEN AG 2.69% 179.5 Delayed Quote.5.53%
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Financials
Sales 2020 37 433 M 45 553 M 45 553 M
Net income 2020 -438 M -533 M -533 M
Net Debt 2020 4 539 M 5 524 M 5 524 M
P/E ratio 2020 -56,4x
Yield 2020 2,03%
Capitalization 23 711 M 28 863 M 28 854 M
EV / Sales 2020 0,75x
EV / Sales 2021 0,67x
Nbr of Employees 233 688
Free-Float 54,0%
Chart CONTINENTAL AG
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Technical analysis trends CONTINENTAL AG
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 119,83 €
Last Close Price 118,55 €
Spread / Highest target 40,0%
Spread / Average Target 1,08%
Spread / Lowest Target -44,3%
EPS Revisions
Managers and Directors
NameTitle
Nikolai Setzer Chairman-Executive Board
Wolfgang W. Reitzle Chairman-Supervisory Board
Wolfgang Schäfer Head-Finance, Controlling, Compliance & Law
Michael Iglhaut Member-Supervisory Board
Dirk Nordmann Member-Supervisory Board
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