Continental Group's Q2 Revenue Increases 15% to Raise Its Annual Profit Forecast

According to the report from the foreign media, the German Continental Group achieved large growth in revenue and EBIT in the second quarter of 2015, and the group increased its financial forecast this year.

In the second quarter of this year, Continental Group’s operating income reached 10.029 billion Euros, compared with 8.528 billion Euros in the same period of last year, up 15.0% year-on-year; EBITDA was 1.183 billion Euros, which was 23.3% higher than the 907 million Euros in the same period of last year; net profit was 792 million euros, up 9.6% year-on-year, compared with 716 million euros in the same period last year.

In the first half of the year, Continental Group’s cumulative operating income was 19.599 billion Euros, an increase of 13.7% from 16.918 billion Euros in the same period of last year; the Group’s pre-tax profits reached 2.161 billion Euros, an increase of 16.2% from the same period of last year and 18.10 billion Euros in the same period of last year; It was 1.449 billion euros, up 10.0% from 1.304 billion euros in the same period of last year.

In the two quarters of the Continental Group's business units, the revenue of the automotive division increased from 5.176 billion euros in the same period last year to 5.996 billion euros, a year-on-year increase of 13.7%; the rubber division’s revenue was 4.045 billion euros, compared with the second quarter of last year. 3.362 billion euros, a year-on-year increase of 16.9%.

In the first half of the year, Continental Group’s automotive division’s cumulative revenue was 11.819 billion euros, compared with 10.305 billion euros in the same period of last year, an increase of 13.5% year-on-year. Accumulative revenue of the rubber division was 7.715 billion euros, an increase of 14.0% from 6.633 billion euros in the same period of last year.

Continental Group Chairman Elmar Degenhart stated that taking into account the better financial results in the first half of the year, the group has raised its financial expectations for the full year this year and decided to increase the previously forecasted EBIT margin of 10.5% to 11%.

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