- Pressemitteilung BoxID 65806
Continental Anticipates Adjusted EBIT Margin of 8.5% for Fiscal 2008
Automotive supplier adapts outlook in response to the worsening economic environment
From the current standpoint, an EBIT margin of around 8.5% is expected for fiscal 2008. This EBIT-margin is before the adjustment for amortization resulting from the purchase price allocation as well as integration and restructuring expense.
It should be noted positively that the planned reduction of indebtedness will be supported additionally by the high conversion rate that occurred in September for the convertible bond due in May 2011. As of today, more than 80% of the amount that was outstanding at the end of 2007, €377.1 million, has been converted.
A comprehensive interim reporting with more detailed statements will be provided when the figures for the first nine months are released on October 30, 2008.
Continental Reifen Deutschland GmbH
The Continental Corporation is one of the top automotive suppliers worldwide. As a supplier of brake systems, systems and components for the powertrain and chassis, instrumentation, infotainment solutions, vehicle electronics, tires and technical elastomers, the corporation contributes towards enhanced driving safety and protection of the global climate. Continental is also a competent partner in networked automobile communication. Today, the corporation employs approximately 150,000 people at nearly 200 locations in 36 countries.