Continental AG mentioned that its 2022 efficiency was hit by materials and power worth will increase in addition to the semiconductor scarcity, but it surely foresees greater gross sales and earnings within the present 12 months.
The German car-parts provider
3703,
on Wednesday reported internet revenue of 66.6 million euros ($70.8 million) within the full 12 months in contrast with EUR1.44 billion a 12 months prior.
Adjusted earnings earlier than curiosity and taxes got here in at EUR1.95 billion in contrast with EUR1.85 billion in 2021, and the corresponding margin was 5% from 5.5% the 12 months earlier. Sales rose to EUR39.41 billion from EUR33.77 billion.
“2022 was particularly challenging for us in several respects. The war against Ukraine drove up the prices for raw materials, semi-finished products, energy and logistics,” Chief Executive Officer Nikolai Setzer mentioned. “Despite facing challenges…we met our sales and earnings forecast for the group.”
For 2023, Continental mentioned it expects gross sales of between EUR42 billion and EUR45 billion and an adjusted EBIT margin of round 5.5% to six.5%.
The firm mentioned it is going to suggest a dividend of EUR1.50 a share, down from EUR2.20 a share within the earlier 12 months.
Write to Giulia Petroni at giulia.petroni@wsj.com
Source web site: www.marketwatch.com
