Continental AG adjusted its estimates for the current year and stated that further potential supply chain disruptions could affect sales and profits.
The German carmaker said it had revised its estimates due to lower-than-expected growth in global production of passenger cars and light commercial vehicles this year and the most significant negative impact on inflation costs.
He expects that sales in the whole year will amount to 38.3-40.1 billion Euros compared to the previous estimate for 38-40 billion Euros.
It also targets a margin of adjusted EBIT between 4.7% -5.7% for 2022, compared to a previous estimate of 5.5% -6.5%.
The company warned of possible further consequences for production, demand and supply chains due to the geopolitical situation in Eastern Europe and a further negative impact on supply due to the pandemic.
It also announced the preliminary data for the ongoing activities for the first quarter, with sales at 9.3 billion Euros and the adjusted margin of EBIT at 4.7%.
In the first quarter of last year, it announced sales of 8.6 billion euros and a margin of 8.5%.
Source: Capital
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