Continental: betting on a recovery in Q4 earnings.


( - Continental, the German automotive components supplier, reported Q3 earnings that collapsed, due to extraordinary costs reported by the group last month.

However, stressing its growing sales momentum, the German automotive components supplier expects a rebound in earnings in Q4.

Continental reported Q3 2016 sales of close to ten billion euros, up 3.8%, representing stronger growth than over the first nine months of the year (+2.8% to 30 billion euros). Continental has highlighted organic growth of 6% of its industrial automotive operations, above the market trend, although the Rubber division (tires) has slowed down.

Q3 operating income collapsed 42.4% to 596.3 million euros, bringing its margin down from 10.8% to 6%. This weighed on the trend over the first nine months: -9.7% to 2.9 billion euros, with a margin of 9.6%, against 10.9% over the same period in 2015. Finally, quarterly net attributable income fell 40.5% to 378.5 million euros (1.90 euro per share), meaning two billion euros (10.09 euros per share) from January to September, down 3.2%.

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