Continental AG (CONG.DE)
17 Jun 2019
Fri, Apr 26 2019
FRANKFURT Continental AG will push back the spin-off of its powertrain division until next year, the company said on Friday, when it reported a 17 percent drop in first-quarter operating profit, hit by a downturn in car demand and higher investments.
* Continental postpones IPO of powertrain division until 2020 (Adds detail on outlook, context, share price)
FRANKFURT, April 26 Continental AG said on Friday it was pushing back the spin-off of its powertrain division to next year as it reported a 17 percent drop in first-quarter operating profit, hit by a downturn in car demand and higher investments.
FRANKFURT, March 7 Revenues from autonomous driving will not ramp up until 2030 and beyond, the chief executive of German auto supplier Continental AG said on Thursday.
* Continental says business year had "subdued" start (Adds details on outlook, earnings)
FRANKFURT, March 7 Auto supplier Continental AG's operating profit fell 12 percent last year, hit by a downturn in demand for cars and higher investments, the company said on Thursday, but pledged to press ahead with a listing of its powertrain business despite a subdued start to 2019.
* Shares rebound after initially falling 2.2 pct (Adds CFO comment)
FRANKFURT German automotive supplier Continental AG warned of a drop in profitability this year, blaming a downturn in car markets and the industry's costly shift from combustion engines towards electric vehicles.
FRANKFURT, Jan 14 German automotive supplier Continental AG on Monday forecast falling operating margins in 2019, pointing to changes and volatility in the car industry.