Continental meets full-year tyre targets, moves ahead with ContiTech sale

German automotive supplier Continental has met its full-year guidance for both sales and adjusted EBIT margin at group level and within its tyres division. In contrast, performance at the ContiTech unit came in below the company’s stated margin range. Roland Welzbacher, Continental’s chief financial officer, attributed ContiTech’s performance to the “persistently weak market environment”. Continental reported preliminary sales of about €5bn ($5.86bn) for the fourth quarter and approximately €19.7bn for ...