Continental : betting on a recovery in Q4 earnings.
However, stressing its growing sales momentum, the German automotive components supplier expects a rebound in earnings in Q4.
Continental reported Q3 2016 sales of close to ten billion euros, up 3.8%, representing stronger growth than over the first nine months of the year (+2.8% to 30 billion euros). Continental has highlighted organic growth of 6% of its industrial automotive operations, above the market trend, although the Rubber division (tires) has slowed down.
Q3 operating income collapsed 42.4% to 596.3 million euros, bringing its margin down from 10.8% to 6%. This weighed on the trend over the first nine months: -9.7% to 2.9 billion euros, with a margin of 9.6%, against 10.9% over the same period in 2015. Finally, quarterly net attributable income fell 40.5% to 378.5 million euros (1.90 euro per share), meaning two billion euros (10.09 euros per share) from January to September, down 3.2%.
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