Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on CONTINENTAL AG. We currently have 13 research reports from 1 professional analysts.
Frequency of research reports
Research reports on
Reasonable 2016 numbers and moderate outlook for 2017
02 Mar 17
Revenue increased by 3.4% to €40.6bn while EBIT was down by 0.5% to just below €4.1bn and net earnings increased by 2.8% to €2.8bn. Based on this, management proposes a dividend of €4.25 compared to €3.75 paid for 2015. All these numbers are just ahead of our projections.
Continental and Nexteer form 50/50 joint-venture
11 Jan 17
Nexteer, a US producer of advanced steering and driver assistance components, controlled by Chinese ‘Pacific Century Motors’, and Continental jointly intend to develop state-of-the-art electronic brake and steering systems that can go into self-driving cars. The management teams are confident that the joint-venture can start in Q1 17. What is unclear is the timing of the first product launches.
Management’s guidance with no surprises
09 Jan 17
Continental has released first indications for 2016 and guidance for 2017. Last year’s revenue amounted to €40.5bn and the adjusted EBIT margin was around 10.7%. As last year’s accounts were burdened with additional costs (e.g. cartel fines) of some €500m, the stated margin was in the vicinity of 9.5%. The numbers are in line with our projected revenue of €40.46bn and a stated EBIT margin of 9.5%. Management sees revenue rising by 6% to €43bn in 2017 and the adjusted EBIT margin to come in at above 10.5%. While our calculations currently see revenue rising to €41.6bn, we expect a stated margin of 10.3%, i.e. the difference between the two margins leaves hardly any room for ‘exceptional’ costs as occurred in 2016.
Tyre margin has started to retreat in Q3
10 Nov 16
Whereas Continental’s 9M revenue number of just above €30bn (+2.8%) was in line with our expected €29.94bn, the profit numbers are clearly lower than what we had anticipated after we included the above profit warning. EBIT fell by 42% to €597m in Q3 and by 10% to €2.89bn while our number was €3.13bn. Net earnings fell by 41% to €378m and 3.2% to just above €2bn, respectively, while our forecast was €2.2bn. At a glance, the profit numbers are also considerably below consensus expectations.
19 Apr 17
Lombard Risk Management* (LRM): Beats demanding growth and profit forecasts (CORP) | Frontier Developments* (FDEV): Steaming ahead (CORP) | Tax Systems* (TAX): Right place, right time (CORP) | Acal (ACL): Stronger H2 and brighter outlook (BUY) | Fenner (FENR): Interim results signal upgrades (BUY) | Minds + Machines* (MMX): US and Europe domain sales (CORP)
Small Cap Breakfast
24 Apr 17
Global Ports Holding—Intention to float on Standard List of the Main Market. International cruise ports operator. Seeking $250m raise including $75m primary offer. Dorcaster—Schedule One Update. Admission now expected on AIM 3 May. RTO of Escape Hunt raising £14m at 135p. Verditek— Intention to float on AIM. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Raising £3.5m. Admission in May. Eddie Stobart Logistics— Schedule 1 update. Admission expected 25 April on AIM raising £122m. ADES International Holding— Intends to join the Standard List of the Main Market in May raising up to $170m plus a vendor sale. Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa. Admission expected in May. Tufton Oceanic Assets– Offer extended to 9 May on specialist funds segment of Main Market to enable investors to complete further due diligence.
UK Housebuilding Sector: Q1 2017
10 Apr 17
Baron King of Lothbury, also known as Mervyn King former Governor of the Bank of England, is married to Barbara, a Finnish lady. She was his girlfriend in 1970 but distance and steam-driven telecoms conspired to keep them apart. Barbara went on to marry someone else and divorce - before being reunited with King in the late 1990s. They married in 2007 and King, who had never had children, was presented with two step-children and four grandchildren; and, in a Sunday Times interview, he quoted the Finnish apothegm “Grandchildren are the dessert of life”.
Mature market growth still negative, despite beat in Q1
20 Apr 17
Unilever (ULVR LN, HOLD, T/P 3800p) released their Q1 trading statement this morning – Q1 underlying sales grew 2.9%. Turnover increased 6.1% to €13.3bn, in front of Bloomberg consensus of €13.2bn. Despite trading market conditions being described as tough, Unilever grew pricing by 3.0%, but saw volume declining 0.1%.