CONTINENTAL AG 3 Before amortization of intangible assets from purchase price allocation (PPA), changes in the scope of consolidation, and special effects.
4 Excluding trainees.
Development of the group sectors
Sales in the Automotive Technologies group sector were down in the first quarter by 2.2 percent to EUR4.1 billion (Q1 2020: EUR4.2 billion). The adjusted EBIT margin rose to 4.5 percent (Q1 2020: 1.9 percent). Organic growth came to 3.4 percent. Strong business in China made a major contribution to this positive development. Furthermore, the volume of orders for fully connected central high-performance computers rose to a total of around EUR5 billion. These computers form a crucial link between the vehicle and the digital world. They are already being installed by Volkswagen in the ID.3 and ID.4 as well as in the ID.6 in China, and also in other models that are based on the modular e-drive system. Other car manufacturers such as Hyundai are also using Continental's high-performance computers in volume production, and the mobility supplier has already received a first volume order in the truck sector. In order to further strengthen the field of assisted and automated driving, Continental signed a memorandum of understanding in April to found a joint venture with Horizon Robotics. With a focus on the Chinese market, this will involve, for example, integrating the artificial intelligence processors and algorithms from Horizon Robotics into the cameras and central computers from Continental.
In the Rubber Technologies group sector, the Tires business area performed well at the beginning of the year, particularly in China and North America. In the first quarter, the ContiTech business area benefited from the recovery in global vehicle production, especially in China, and from stable industrial business. In the first quarter of 2021 in total, the Rubber Technologies group sector achieved sales of EUR4.2 billion (Q1 2020: EUR4.0 billion, +6.6 percent) and an adjusted EBIT margin of 14.5 percent (Q1 2020: 9.6 percent). Organic sales growth came to 11.7 percent.
In the first quarter, the Powertrain Technologies group sector achieved sales of EUR2.0 billion (Q1 2020: EUR1.8 billion, +9.3 percent) and an adjusted EBIT margin of 3.8 percent (Q1 2020: 0.7 percent). Organic growth came to 12.8 percent. The group sector continued to profit from steady growth in the electrification market. For example, it landed a large order with a sales volume worth hundreds of millions of euros for an innovative high-voltage component - an 800-volt inverter featuring silicon carbide technology.
Key figures for the group sectors (continuing operations and discontinued operations)
January 1 to March 31
Automotive Technologies in EUR millions 2021 2020 ? in %
Sales 4,086.9 4,180.4 -2.2
EBITDA 400.6 426.9 -6.2
in % of sales 9.8 10.2
EBIT 139.6 150.7 -7.4
in % of sales 3.4 3.6
Capital expenditure^1 142.2 193.6 -26.5
in % of sales 3.5 4.6
Number of employees as at March 31^2 94,288 97,735 -3.5
Adjusted sales^3 4,086.9 4,111.6 -0.6
Adjusted operating result (adjusted EBIT)^4 182.5 76.3 139.2
in % of adjusted sales 4.5 1.9
January 1 to March 31
Rubber Technologies in EUR millions 2021 2020 ? in %
Sales 4,235.4 3,971.7 6.6
EBITDA 868.3 651.0 33.4
in % of sales 20.5 16.4
EBIT 583.2 346.4 68.4
in % of sales 13.8 8.7
Capital expenditure^1 90.0 164.2 -45.2
in % of sales 2.1 4.1
Number of employees as at March 31^2 100,448 101,620 -1.2
Adjusted sales^3 4,235.3 3,968.1 6.7
Adjusted operating result (adjusted EBIT)^4 614.8 381.2 61.3
in % of adjusted sales 14.5 9.6
The figures for the comparative period have been adjusted due to the change in the accounting policy for revenue recognition for subsidiaries in China. This change was announced in the second quarter of 2020. 1 Capital expenditure on property, plant and equipment, and software.
2 Excluding trainees.
3 Before changes in the scope of consolidation.
4 Before amortization of intangible assets from purchase price allocation (PPA), changes in the scope of consolidation, and special effects.
January 1 to March 31
Powertrain Technologies in EUR millions 2021 2020 ? in %
Sales 1,998.2 1,829.0 9.3
EBITDA 172.5 116.5 48.1
in % of sales 8.6 6.4
EBIT 37.3 -22.9 262.9
in % of sales 1.9 -1.3
Capital expenditure^1 47.8 104.2 -54.1
in % of sales 2.4 5.7
Number of employees as at March 31^2 39,810 39,844 -0.1
Adjusted sales^3 1,998.2 1,829.0 9.3
Adjusted operating result (adjusted EBIT)^4 76.6 11.9 543.7
in % of adjusted sales 3.8 0.7
1 Capital expenditure on property, plant and equipment, and software. 2 Excluding trainees.
3 Before changes in the scope of consolidation.
4 Before amortization of intangible assets from purchase price allocation (PPA), changes in the scope of consolidation, and special effects.
Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transportation. In 2020, Continental generated sales of EUR37.7 billion and currently employs around 235,000 people in 58 countries and markets. In 2021, the company celebrates its 150th anniversary.
Press contact Marc Siedler Spokesman, Business & Finance Continental Phone: +49 511 938-1278 Cell: +49 151 24506041 E-mail: marc.siedler@conti.de
Vincent Charles Head of Media Relations Continental Phone: +49 511 938-1364 Cell: +49 173 3145096 E-mail: vincent.charles@conti.de Press portal: www.continental-press.com Media center: www.continental.com/media-center Twitter: @conti_press -----------------------------------------------------------------------------------------------------------------------
2021-05-06 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------
Language: English
Company: Continental AG
Vahrenwalder Straße 9
30165 Hannover
Germany
Phone: +49 (0)511 938-1068
Fax: +49 (0)511 938-1080
E-mail: ir@conti.de
Internet: www.continental-corporation.com/de
ISIN: DE0005439004
WKN: 543900
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg, Hanover, Stuttgart; Regulated Unofficial Market
in Berlin, Dusseldorf, Munich, Tradegate Exchange; Luxembourg Stock Exchange, SIX
EQS News ID: 1193129
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May 06, 2021 02:31 ET (06:31 GMT)
