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Continental AG 2018 Net Income Declines; Reaffirms 2019 Outlook - Quick Facts

(RTTNews) - Continental AG (CTTAY.PK) reported that its 2018 net income attributable to the shareholders of the parent declined to 2.90 billion euros from 2.98 billion euros, prior year. Earnings per share was 14.49 euros compared to 14.92 euros. Adjusted EBIT declined to 4.12 billion euros from 4.75 billion euros.

Fiscal 2018 sales were 44.40 billion euros compared to 44.01 billion euros, prior year. Adjusted sales were 44.25 billion euros compared to 43.98 billion euros, last year.

For fiscal 2019, Continental reaffirmed its preliminary guidance from early January. Accordingly, the company still expects sales of around 45 to 47 billion euros, and an adjusted EBIT margin of approximately 8 to 9 percent.

"The guidance for 2019 is based in part on the assumption that the global production volume of passenger cars and light commercial vehicles will be stable at 94 million. Production in the first half of the year is likely to be down on last year's figure. In our eyes, risk factors include the unclear ramifications of economic development in China and the trade disputes between the U.S.A. and China and between the U.S.A. and Europe - and then there is also the unclear situation with Brexit," Wolfgang SchA¤fer, Continental's CFO, said.

The Continental Executive Board proposed a 0.25 euros increase in the dividend to 4.75 euros per share for the past fiscal year. The company said its preparations for a potential partial IPO in the second half of 2019 are on schedule.

Continental said it wants to increase its workforce of software and IT experts from 19,000 at present to 25,000 by the end of 2022.
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