Continental AG (CTTAF) Q3 2024 Earnings Call Highlights: Resilience Amid Market Challenges [Yahoo! Finance]
CONTL AG S/ADR (CTTAY)
NASDAQ:AMEX Investor Relations:
continental-corporation.com/en/investors/overview
Company Research
Source: Yahoo! Finance
Continental AG ( CTTAF ) improved its adjusted EBIT margin by 260 basis points year over year, demonstrating resilience in a challenging market. The company successfully concluded most of its pricing negotiations in the automotive sector, contributing to improved financial performance. Continental AG ( CTTAF ) achieved significant cost savings, reducing over 3,000 employees and targeting EUR200 million in savings for 2024. The tires segment showed strong performance with a 3.5% organic sales growth, driven by solid passenger vehicle replacement market sales. The company is making strides in R&D efficiency, aiming for a high single-digit R&D to sales percentage by 2027, with a 30 basis point reduction achieved in Q3 2024. Continental AG ( CTTAF ) faces persistent weakness in industrial markets, particularly affecting its ContiTech segment. The company had to adjust its guidance for ContiTech, reducing the sales outlook by EUR400 million and the EBIT margin by 70 basis poin
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News
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