May 9, 2019 / 6:39 AM / 2 months ago

Continental affirms guidance, Q1 net profit falls 22 pct

BERLIN, May 9 (Reuters) - German auto supplier Continental said on Thursday it still expects a market upturn in the second half of this year and affirmed its profit guidance, after a downturn in global car demand dragged net profit down 22 percent in the first quarter.

The Hannover-based automotive supplier said net profit for the first three months of the year came in at 575 million euros ($644 million) compared to 738 million a year earlier.

“The start of the new business year was challenging as expected,” Chief Financial Officer Wolfgang Schaefer said in a statement. “However, last year we began strengthening our cost discipline. That is benefiting us now.”

Reporting by Caroline Copley Editing by Thomas Seythal

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below