Continental Anticipates Adjusted EBIT Margin of 8.5% for Fiscal 2008
Automotive supplier adapts outlook in response to the worsening economic environment(lifePR) ( Hannover, )
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.