Continental's First-quarter Sales Increased By 8.2%, With Significant Impact From Rising Procurement And Logistics Costs

According to the financial report released by Continental Group, in the first quarter, it achieved sales of 9.3 billion euros, a year-on-year increase of 8.2%. Adjusted EBIT margin was 4.7%. In the first quarter, rising procurement and logistics costs had a significant impact on Continental.

Recently, the global automotive supply chain giant Continental released its first-quarter earnings report. According to the financial report, in the first quarter of this year, Continental achieved sales of 9.3 billion euros, a year-on-year increase of 8.2%. Adjusted EBIT was 439 million euros, down 39.8 percent year-on-year. Adjusted EBIT margin was 4.7%. Operating profit was 375 million euros, a year-on-year decrease of 43.4%.

According to Continental, in response to the major challenges brought to Continental by external factors such as the Russian-Ukrainian conflict, the new crown epidemic, shortages of electronic components, and increased procurement and logistics costs, Continental took timely actions to effectively ensure production and supply. chain stability. For example, further expanding raw material procurement channels at an early stage, establishing safety stock levels, and reshaping its own value chain in the field of electronic components. In addition, Continental shares the rising cost pressure with its customers.