Continental sales figures soar

Semperit Ireland and the Advance Pitstop’s parent company Continetal AG set record sales figures in 2004, despite an overall sluggish economy in the global automotive industry.

"We have once again succeeded in significantly surpassing prior-year figures. This is an even more remarkable accomplishment when one considers that the operating result was depressed by the one-time charge from the restructuring measures at the plant in Mayfield, U.S.A., amounting to E104 million," said the Chairman of Continental's Executive Board, Manfred Wennemer.

After exchange rate effects and the consolidation charges, consolidated sales increased by 9.2% to E12,597.4 million (2003: E11,534.4 million). Sales increased by 8.8% over the prior year before the effects of exchange rate movements and changes in the scope of consolidation. The operating result (EBIT) increased substantially by 28.2% to E1,096.4 million (2003: E855.2 million). The return on sales amounted to 8.7% (2003: 7.4%). Consolidated net income after taxes went up 114.6% from E314.0 million to E673.8 million, with earnings per share rising E2.51 from E2.37 to E4.88.

The company’s tyre division plants operated at full capacity in 2004, and were therefore unable to meet all customer demands. There are plans for further expansion of production for 2005. Considering the current order trend, the expectation is that tyre plants will run at full capacity again in 2005.