21.10.2020 Continental AG  DE0005439004

DGAP-Adhoc: Continental AG announces preliminary key data for the third quarter of 2020 and recognition of non-cash impairments and restructuring expenses in the third quarter of 2020


 

DGAP-Ad-hoc: Continental AG / Key word(s): Quarter Results/Preliminary Results
Continental AG announces preliminary key data for the third quarter of 2020 and recognition of non-cash impairments and restructuring expenses in the third quarter of 2020

21-Oct-2020 / 17:57 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


The financial results of Continental AG in the third quarter of fiscal 2020 are above current average analyst expectations. However, impairments and restructuring expenses will result in a negative value for reported EBIT in the third quarter of 2020. These factors will also result in a negative value for net income attributable to shareholders for the third quarter of 2020.

Based on preliminary data, key financial results of the third quarter of fiscal 2020 are as follows:

* Consolidated sales of the Continental Group were €10.295 billion (Q3 2019: €11.103 billion) and the adjusted EBIT margin was 8.1% (Q3 2019: 5.6%). Year-on-year sales growth before changes in the scope of consolidation and exchange-rate effects was -2.7%.

* Sales in Automotive Technologies were €4.101 billion (Q3 2019: €4.673 billion) and the adjusted EBIT margin was 2.4% (Q3 2019: 5.0%). Year-on-year sales growth before changes in the scope of consolidation and exchange-rate effects was -6.4%.

* Sales in Rubber Technologies were €4.333 billion (Q3 2019: €4.561 billion) and the adjusted EBIT margin was 15.0% (Q3 2019: 11.8%). Year-on-year sales growth before changes in the scope of consolidation and exchange-rate effects was -1.4%.

* Sales in Powertrain Technologies were €1.909 billion (Q3 2019: €1.926 billion) and the adjusted EBIT margin was 5.8% (Q3 2019: -6.5%). Year-on-year sales growth before changes in the scope of consolidation and exchange-rate effects was +2.4%.

* Free cash flow before acquisitions and carve-out effects for the Group amounted to €1.800 billion. This figure was €343 million in the third quarter of fiscal 2019. The increase resulted from an improvement in business activity which reversed the negative working capital effects from the second quarter of fiscal 2020.

Furthermore, as part of Continental AG's annual planning process, the company will recognize goodwill impairments of €649 million in the third quarter of 2020 in the Vehicle Networking and Information business area. These non-cash impairments predominantly result from the current business planning assumption that there will not be a material increase in global light vehicle production during the upcoming five-year period (2021-2025). A significant portion of the goodwill impairments is attributable to acquisitions made before 2008.

Additionally, restructuring expenses and asset impairments that are part of the expanded "Transformation 2019-2029" structural program announced on September 30, 2020 resulted in expenses of €687 million in the third quarter of 2020. Further expenses for restructuring and asset impairments related to this program are expected to be recognized in the fourth quarter of 2020, though the amounts are not clarified at this time.

Given the current uncertainty around potential disruptions related to the COVID-19 pandemic that may occur in the remainder of 2020, the Executive Board of Continental AG expects only to be able to provide an outlook for fiscal 2020 in conjunction with the publication of the financial report for the first nine months of 2020 on November 11, 2020.

"Adjusted EBIT" is defined in the Glossary of Financial Terms on page 36 of the 2019 Annual Report, which is available at www.continental-ir.com.

Contact:
Person making the notification: Bernard Wang, Head of IR

21-Oct-2020 CET/CEST 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: [email protected]
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: 1142316

 
End of Announcement DGAP News Service

1142316  21-Oct-2020 CET/CEST

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Die wichtigsten Finanzdaten auf einen Blick
  2016 2017 2018 2019 2020 2021 2022e
Umsatzerlöse1 40.549,50 44.009,50 44.404,40 44.478,40 37.722,30 33.765,20 39.400,00
EBITDA1,2 6.057,40 6.678,90 6.235,70 4.977,20 3.033,80 4.260,80 4.785,00
EBITDA-Marge3 14,94 15,18 14,04 11,19 8,04 12,62 12,14
EBIT1,4 4.095,80 4.561,50 4.027,70 -268,30 -718,10 1.845,80 2.060,00
EBIT-Marge5 10,10 10,36 9,07 -0,60 -1,90 5,47 5,23
Jahresüberschuss1 2.882,00 3.048,30 2.958,30 -1.225,00 -918,80 1.506,90 1.660,00
Netto-Marge6 7,11 6,93 6,66 -2,75 -2,44 4,46 4,21
Cashflow1,7 4.938,10 5.220,50 4.977,20 4.414,40 2.714,00 2.954,40 0,00
Ergebnis je Aktie8 14,01 14,92 14,49 -6,13 -4,81 7,28 7,80
Dividende8 4,25 4,50 4,75 3,00 0,00 2,20 2,50
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2021 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: PricewaterhouseCoopers

INVESTOR-INFORMATIONEN
©boersengefluester.de
Continental
WKN Kurs in € Einschätzung Börsenwert in Mio. €
543900 64,000 Halten 12.800,38
KGV 2023e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
7,11 13,22 0,55 8,08
KBV KCV KUV EV/EBITDA
1,09 4,33 0,38 5,35
Dividende '20 in € Dividende '21e in € Div.-Rendite '21e
in %
Hauptversammlung
0,00 2,20 3,44 27.04.2023
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
11.05.2022 09.08.2022 10.11.2022 21.03.2022
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-6,98% -19,46% -31,26% -37,23%
    
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Automobilzulieferer , 543900 , CON , XETR:CON