Q1 2022 Results
Continental Reports Strong Tire Business in the First Quarter
CFO Katja Dürrfeld: “Adjusted free cash flow in the first quarter of this year was negative due primarily to higher procurement costs and inventory buildup. For the year as a whole, we anticipate an adjusted free cash flow of around €0.6 billion to €1.0 billion.”
- Consolidated sales of €9.3 billion (Q1 2021: €8.6 billion, +8.2 percent)
- Adjusted EBIT of €439 million (Q1 2021: €728 million, -39.8 percent)
- Adjusted EBIT margin of 4.7 percent (Q1 2021: 8.5 percent)
- Operating result of €375 million (Q1 2021: €663 million, -43.4 percent)
- Net income of €245 million (Q1 2021: €448 million for continuing and discontinued operations)
- Free cash flow before acquisitions and divestments (adjusted free cash flow)
of -€174 million (Q1 2021: €646 million for continuing and discontinued operations) - CEO Nikolai Setzer: “Price increases in procurement and logistics affected us significantly in the first quarter. Despite this considerable headwind, we achieved a good result in the tire business.”
- Expectations for fiscal 2022: consolidated sales of around €38.3 billion to €40.1 billion; adjusted EBIT margin of around 4.7 to 5.7 percent
- Recycling of scrap tires to be further optimized and expanded
On May 11, 2022, Continental released its Q1 2022 results. Katja Dürrfeld, CFO, conducted an analyst & investor conference call presenting the Q1 figures.
- Webcast of analyst and investor conference call
- Presentation
- Press release
- Quarterly Statement as at March 31, 2022
