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Continental AG on Wednesday announced new targets for the coming years, saying it would realign its strategy.
The German automotive supplier targets a margin for adjusted earnings before interest and taxes, which strips out items like special effects, of around 8% to 11% in the medium term. This figure excludes its Powertrain Technologies business.
In 2019, Continental s full-year adjusted EBIT margin stood at 7.4%. Going forward, we will focus on our growth areas and future technologies with even more intensity and resources, Chief Executive Nikolai Setzer said.
The company, which plans to particularly focus on its software portfolio, said its strategy includes potential acquisitions, disposals or partnerships.