Continental posted robust Q3 22 results overall with consensus-beating adjusted EBIT margins on both Automotive and Tires. A c.€500m goodwill impairment was booked as a result of rising interest rates. FCF came in fully in line with expectation and the FY22 guidance was confirmed. Going forward we would like to flag the good performance of the Automotive unit. This together with the c. €6bn order intake in Q3 22 (already announced) might foreshadow the beginning of the long-awaited ramp-up of Co ....
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Automotive feeling better?
Continental posted robust Q3 22 results overall with consensus-beating adjusted EBIT margins on both Automotive and Tires. A c.€500m goodwill impairment was booked as a result of rising interest rates. FCF came in fully in line with expectation and the FY22 guidance was confirmed. Going forward we would like to flag the good performance of the Automotive unit. This together with the c. €6bn order intake in Q3 22 (already announced) might foreshadow the beginning of the long-awaited ramp-up of Co ....