Continental AG (CHIX:CONd)
€ 75.96 (0%) Market Cap: 15.05 Bil Enterprise Value: 20.36 Bil PE Ratio: 11.68 PB Ratio: 1.05 GF Score: 74/100
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Q3 2024 Continental AG Earnings Call Transcript

Nov 11, 2024 / 11:30 AM GMT
Release Date Price: €61.6 (+9.32%)

Key Points

Positve
  • Continental AG (CTTAF) improved its adjusted EBIT margin by 260 basis points year over year, demonstrating resilience in a challenging market.
  • The company successfully concluded most of its pricing negotiations in the automotive sector, contributing to improved financial performance.
  • Continental AG (CTTAF) achieved significant cost savings, reducing over 3,000 employees and targeting EUR200 million in savings for 2024.
  • The tires segment showed strong performance with a 3.5% organic sales growth, driven by solid passenger vehicle replacement market sales.
  • The company is making strides in R&D efficiency, aiming for a high single-digit R&D to sales percentage by 2027, with a 30 basis point reduction achieved in Q3 2024.
Negative
  • Continental AG (CTTAF) faces persistent weakness in industrial markets, particularly affecting its ContiTech segment.
  • The company had to adjust its guidance for ContiTech, reducing the sales outlook by EUR400 million and the EBIT margin by 70 basis points.
  • The automotive sector continues to be burdened by weak global production volumes and high customer inventory levels.
  • Continental AG (CTTAF) is dealing with tax investigations by Italian authorities, leading to provisions in the low to mid double-digit million EUR range.
  • The company anticipates further raw material and labor cost headwinds in Q4 2024 and into 2025, which could impact profitability.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CONG.DE - Continental AG
Q3 2024 Continental AG Earnings Call
Nov 11, 2024 / 11:30AM GMT

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Presentation
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Unidentified_1 [1]
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Thank you operator and welcome everyone to our third quarter, 2024 results presentation.

Today's call is hosted by our CFO OSI.

A small reminder up front that both the press release and presentation of today's calls are available for download on our IR website. And before starting, we'd like to remind everyone that this conference call is for investors and analysts only. If you do not belong to either of these groups, please kindly disconnect. Now, following the presentation, we will conduct a Q&A session for sell side analysts to provide a chance for you all to ask questions. We would ask you to limit yourself to no more than three questions. This will certainly help us to conclude our call on time. And with this, let me
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