In response to the numbers, Conti shares have meanwhile turned negative.
(Photo: dpa)
Frankfurt The automotive supplier Continental made a small operating loss in its core automotive business in the second quarter. With sales of 5.1 billion euros, the adjusted EBIT margin of the division is expected to be around minus 0.6 percent, the Dax group announced on Thursday in a mandatory notification.
The result is below the market expectation of a return of 1.0 percent. The reason for the operating loss are high negative currency effects and costs for special freight. The outlook for the Automotive division for the year as a whole is unchanged.
With an operating margin of around 4.8 percent on sales of 10.4 billion euros, the group’s operating result will also be below market expectations, which according to Continental are currently 5.8 percent. In response to the numbers, Conti shares have meanwhile turned negative.
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