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      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      • 2020 outlook withdrawn due to ongoing uncertainty regarding market development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).

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