Struktol - A World of Capabilities

News and week in review

Scroll down for more news

Click here to subscribe to the daily news

Continental announces first quarter 2019 results

  5/16/2019 - Hanover, Germany - Continental has managed a solid start to the business year. Thanks to its technology portfolio, the company has been able to distance itself from the substantial downward trend on the market. At €11.0 billion, sales were on par with the prior-year level. The adjusted EBIT margin was 8.1 percent (adjusted EBIT: €884 million). “Thanks to our strong market position, we have kept our sales stable in a clearly sluggish market environment. Our stricter cost discipline contributed to our solid results,” said Continental CEO Dr. Elmar Degenhart upon the publication of the quarterly figures in Hanover. In the first three months of 2019, global automobile production was down by more than 6 percent year-on-year, according to preliminary figures. In contrast, the technology company’s organic growth (before changes in the scope of consolidation and exchange-rate effects) was down by only 2 percent. In addition to the company’s strong market position, this was also due to exchange-rate effects which totaled €186 million in the first quarter, attributable primarily to the appreciation of the U.S. dollar in relation to the euro. As announced at the annual shareholders’ meeting on April 26, Continental continues to expect a market upturn in the second half of the year and is thus maintaining its annual guidance issued at the beginning of January. The net income attributable to the shareholders of the parent of €575 million was down year-on-year (PY: €738 million). Earnings per share amounted to €2.88 (PY: €3.69). At €884 million, adjusted EBIT was down 17.1 percent compared with the reporting date for the previous year. This corresponds to an adjusted EBIT margin of 8.1 percent after 9.7 percent in the first quarter of the previous year. “The start to the new fiscal year was challenging, as expected,” remarked Wolfgang Schäfer, Continental’s CFO, adding: “We did, however, already start to heighten our cost discipline last year. We are benefiting from this now.” In the first quarter, capital expenditure for research and development and for property, plant and equipment, and software came to over €1.5 billion. “Continental is continuing to invest heavily in the mobility of the future, and thus in its future business success,” Schäfer explained. As at March 31, 2019, Continental’s liquidity reserves totaled €5.7 billion, consisting of cash and cash equivalents of €1.8 billion and committed, unutilized credit lines totaling €3.9 billion.

Friday, May 17, 2019

Nexen Tire and The Purple Heart Foundation to give away 2020 Jeep Gladiator to a combat-wounded veteran - click to expand

Bridgestone launches company's first all-weather touring tire in the U.S. and Canada - click to expand

Global automotive elastomer market forecast to reach $62.9 billion by 2024 - click to expand

Book of the day - Fatigue, Stress and Strain of Rubber Components, by Judson Bauman - click to expand

Goodyear and Just Tires offering free care care checks for U.S. military this Memorial Day - click to expand

Thursday, May 16, 2019

Braskem to be delisted from New York Stock Exchange - click to expand

Huntsman announces dividend - click to expand

Continental announces first quarter 2019 results - click to expand

Evonik reorganizes its polyamide business - click to expand

Lubrizol enters Material Alliance program with desktop 3D printer maker Ultimaker - click to expand

Wednesday, May 15, 2019

NTB Tire & Service Centers offer free tire care checks for National Tire Safety Week - click to expand

Global adhesives and sealants market forecast with a CAGR of 5.1 percent through 2026 - click to expand

Cabot Corporation completes Responsible Care 14001 certification for all operating manufacturing sites in China - click to expand

Apollo opens first tire service center in Malaysia - click to expand

ExxonMobil completes expansion of specialty elastomer plant in Wales - click to expand

Tuesday, May 14, 2019

AB Specialty Silicones' Waukegan plant employees return to work - click to expand

Latex saturated paper market forecast with a CAGR of 4.3 percent through 2027 - click to expand

Simtec Silicone Parts adds Class 8 clean room - click to expand

Asahi Kasei relocates European headquarters, Asahi Kasei Europe (AKEU), within Düsseldorf - click to expand

Global carbon black market projected to reach $13.79 billion by 2021 - click to expand

Monday, May 13, 2019

Michelin ranked eighth among the world's most reputable companies by Forbes - click to expand

Trinseo to acquire Dow Chemical latex production facilities in Rheinmünster, Germany - click to expand

Toyota RAV4 to use Toyo Tire's Open Country tire as original equipment - click to expand

Sumitomo Rubber continues with its environmental conservation efforts across Japan - click to expand

ExxonMobil to spend $2 billion to expand its Baytown chemical plant - click to expand

Market Reports

Automotive all-season tires market forecast with a CAGR of about 5% by 2023 - click to expand

Global polyolefin elastomer market forecast with a CAGR of 8.7% through 2027 - click to expand

Global automotive elastomer market forecast to reach $62.9 billion by 2024 - click to expand

Global carbon black market is projected to reach $13.79 billion by 2021 - click to expand

Global adhesives and sealants market forecast with a CAGR of 5.1% through 2026 - click to expand

Latex saturated paper market forecast with at CAGR of 4.3% through 2027 - click to expand

Low rolling resistance tire market forecast with a CAGR of 10.8% through 2028 - click to expand

Global styrene butadiene latex market forecast with at CAGR of 2.6% through 2025 - click to expand

Subscribe to daily news

Sign up for Daily News Email Update

RubberWorld will now notify you with an email when we update our daily news. Simply enter you email address in the boxes below and click the send button*, and you'll know the news as soon as we do!

email

email (confirm)

Type RUBBER in this field (prove you're human) in CAPS


* be sure to click the send button

By submitting your email address to RubberWorld you agree to allow Rubber World to send you daily email notifications relating to news in the rubber industry. See our privacy terms for more details