Dr. Elmar Degenhart | Wolfgang Schäfer

COVID-19 Business Update

  • 2020 outlook withdrawn due to ongoing uncertainty regarding market development
  • Preliminary results for first quarter: consolidated sales of around €9.4 to €9.8 billion; adjusted EBIT margin of around 2 to 3 percent
  • More than 40 percent of production locations worldwide have temporarily ceased activities
  • CEO Dr. Elmar Degenhart: “We are safeguarding liquidity by cutting costs substantially and thus maintaining our ability to function effectively”
  • About 30,000 employees registered for short-time work in Germany as at April 1, 2020
  • Solidarity with workforce: Executive Board and executives worldwide forego 10 percent of their salary in April

In conjunction with the April 1 ad-hoc announcement on business impacts from the COVID-19 pandemic on Continental, we hosted an analyst & investor conference call on April 1. 

The conference call was hosted by Dr Elmar Degenhart (CEO), Wolfgang Schäfer (CFO), Stefan Scholz (Head of Finance & Treasury) and Bernard Wang (Head of Investor Relations).


CEO Dr. Elmar Degenhart on the Impact of the Coronavirus at Continental (April 4, 2020). © Continental AG