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Auto parts supplier Continental beat expectations on Thursday with a 47% jump in third-quarter operating profit as price hikes and a strong recovery in auto production offset rising energy and
Resize icon 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...