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Continental Sets Mid-term Targets HANOVER (dpa-AFX) - Continental presented its realigned strategy with which it aims to achieve annual organic growth of around 5 to 8 percent on average in the mid-term. In its Automotive Technologies group sector, Continental plans in the mid-term to exceed the expected average market growth of around 5 to 7 percent per year by around 2 to 4 percentage points. The company s aim is to achieve an adjusted EBIT margin for the Continental Group of between around 8 and 11 percent (excluding Powertrain Technologies). Continental CFO Wolfgang Schäfer said: Growth that outpaces our markets and industries, an adjusted EBIT margin of around 8 to 11 percent and a return on capital employed of around 15 to 20 percent illustrate our ambitious yet realistic growth path. In addition, with a targeted cash conversion ratio of more than 70 percent, we will further increase our financial strength in the future. ....
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, which plans to particularly focus on its software portfolio, said its strategy includes potential acquisitions, disposals or partnerships. ....