BERLIN – Automotive elements provider Continental reported a drop in gross sales within the second quarter to 9.4 billion euros ($9.62 billion) from 9.9 billion final yr, with a margin of 4.4%, in keeping with the corporate’s earlier warnings of a subdued begin to the yr.
In preliminary outcomes launched by Continental on Wednesday, the automotive group sector reported a damaging adjusted EBIT margin of -2.3%, whereas the tyres division reported the best margin at 13.8%.
Adjusted free money stream for the Group got here in at -687 million euros, the provider reported, far beneath consensus of -225 million euros.
The corporate is because of report second-quarter outcomes on August 9.
($1 = 0.9771 euros)
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