German automotive supplier Continental reported on Tuesday a 45.9% decline in second-quarter net income to €274 million ($315.25 million), from €506 million a year earlier. The drop was mainly attributable to the spin-off of Aumovio. Earnings per share fell to €1.37 from €2.53.
The company's adjusted operating result increased to €570 million from €422 million in the prior-year quarter. Consolidated sales declined 9.1% to €4.4 billion, largely due to the sale of the original equipment solutions business in early February 2026. Organic sales fell 0.3%, while adjusted sales were nearly flat at €4.41 billion.
Following the agreement to sell ContiTech, Continental's outlook now covers only its tire business for continuing operations. The company expects group sales of around €13.2 billion to €14.2 billion and an adjusted EBIT margin of 12% to 13.5%.
Continental shares closed at €72.36 on the Frankfurt Stock Exchange, up 0.7%.
Source: yahoo.com
