Continental Rubber Technologies reports higher sales, improv

Continental Rubber Technologies reports higher 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% 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%, 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%. It did not elaborate on the tire division results.
Conti will publish its full first-quarter earnings report May 6.
As a corporation, Conti reported 3.5% higher sales of $12.4 billion and an adjusted EBIT margin of 8.1%.

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