Continental reported better-than-expected second-quarter sales of €9.4bn, with adjusted profit margin at 4.4%, slightly higher than estimates of 4.2%.
The auto parts supplier, which in May cut profit estimates to 4.7%-5.7% from 5.5%-6.5%, reaffirmed lower estimates in preliminary results ahead of half-year results on August 9.
Second quarter sales were slightly lower than the 9.3 billion euros of the first quarter.
Continental warned in March of a sluggish start to 2022 and that the war in Ukraine could have lasting effects on its supply chain.
In April it said it was in talks with customers to raise prices and cover its own increased costs.
Automakers from Volkswagen to BMW have reported lower sales in the first half of the year, and Europe recorded the lowest number of new car registrations since 1996.
The company recognized impairments in the automotive sector of 370 million euros, with an additional 75 million euros of impairments due to sanctions, mainly in the tire sector.
Adjusted cash flow for the group came in at -€678m, well below estimates of -€225m.
Source: Capital
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