Conti Rubber Technologies reports higher Q1 sales, improved

Conti Rubber Technologies reports higher Q1 sales, improved earnings


Conti Rubber Technologies reports higher Q1 sales, improved earnings
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HANOVER, Germany—Continental A.G.'s Rubber Technologies business unit reported a marked improvement in operating earnings in the quarter ended March 31 on 6.6 percent higher sales.
The unit, which comprises Conti's tires and ContiTech non-tire rubber products businesses, reported sales of $5.1 billion and an adjusted pre-tax operating (EBIT) margin of 14.5 percent, up five points from the 2020 first quarter.
Conti said the unit's growth before changes in the scope of consolidation and exchange-rate effects was 11.7 percent. It did not elaborate on the tire division results.
Conti will publish its full first-quarter earnings report May 6.

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