Continental posted a mixed set of H1 20 results with shrinking revenue (-25.9% yoy) dragged down by the non-rubber business (-28.3% yoy). This revenue contraction translated into a -€448.8m profitability hit (margin of -2.7% vs. 4.8% in H1 19). As such, FCF was affected (-75.7% yoy) though benefiting from favorable working capital and lower capex (-35% yoy). Despite the lack of an official outlook, the company expects an improvement in the automotive market for Q3 20.
06 Aug 2020
Farewell, for now, to advanced autonomous tech
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Farewell, for now, to advanced autonomous tech
Continental AG (CON:WBO) | 0 0 0.6% | Mkt Cap: 45,981m
- Published:
06 Aug 2020 -
Author:
David Chaucayanqui - Pages:
Continental posted a mixed set of H1 20 results with shrinking revenue (-25.9% yoy) dragged down by the non-rubber business (-28.3% yoy). This revenue contraction translated into a -€448.8m profitability hit (margin of -2.7% vs. 4.8% in H1 19). As such, FCF was affected (-75.7% yoy) though benefiting from favorable working capital and lower capex (-35% yoy). Despite the lack of an official outlook, the company expects an improvement in the automotive market for Q3 20.