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Continental is a leading tire manufacturer and industry specialist that develops and produces sustainable, safe and convenient solutions for automotive manufacturers as well as industrial and end customers worldwide.
Continental has opened its own training center for employees in Gifhorn. It is the 13th training location the company has set up across Germany since launching its CITT training institute (Continental Institute for Technology and Transformation) in 2019. The opening ceremony on September 25, 2023, was attended, among others, by labor minister Hubertus Heil and the Second Chairperson of IG Metall, Christiane Benner.
Continental ended the third quarter of 2023 in line with expectations. The technology company significantly improved the operating result in its Automotive group sector compared with the first half of the year. This was thanks to price adjustments, high cost discipline and stabilized supply chains. Furthermore, it increased its adjusted free cash flow year-on-year as well as compared with the first two quarters of 2023. This was due primarily to a reduction in inventories.
The cruise industry is also experiencing a shift to greater sustainability and eco-conscious travel, and technology company Continental is seeking to feed into this trend with a selection of interior concepts at this year’s Cruise Ship Interiors Design Expo Europe.
At today’s Capital Market Day in Hanover, Continental announced its strategy for increasing value creation. To achieve its mid-term targets, the company will adopt a package of cost-reduction measures. It thus aims to achieve a consolidated adjusted EBIT margin of around 8 to 11 percent in the next two to three years and then improve within this range.
At today’s meeting of the Supervisory Board of Continental AG, Prof. Wolfgang Reitzle informed members that he will be available to chair the board for a further two years. All shareholder representatives on the Supervisory Board will stand for re-election at the Annual Shareholders’ Meeting on April 26, 2024.
Continental officially opened its new corporate headquarters on December 13, 2023, at a ceremony held in Hanover, Germany. The campus on Hans-Böckler-Allee marks a further milestone for the technology company in its more than 150-year history.
Continental is implementing the global measures it announced in December to increase R&D efficiency in the Automotive group sector, affecting around 1,750 jobs worldwide
