📈 Continental's shares rose significantly on Thursday!
Founded in 1871,Continental $CON.DE-0.6% isa global automotive supplier, best known for its tyre business. In addition to tires ,Continental focuses on a wide range of products and technologies for the automotive industry, including braking systems, electronic components and sensors.
Continental
CON.DEThe company reported progress in its automotive unit for the second quarter, which sparked a positive reaction among analysts. 📊
Continental indicated that pricing in this division has been positive over the past three-month period. Stifel thensaid that "gained the impression that Continental has made tangible progress in automotive pricing."
💡 They estimate quarterly adjusted earnings before interest and taxes in the automotive unit to be 174 million euros, up 16 million from the initial estimate. For the group as a whole, they expect 704 million euros, up approximately 26 % above expectations.
🔧 Continental also announced that its cost-cutting efforts will deliver in the second half of the year 2024 significant savings that will lead to full-year cost reductions in the high double to triple digits.
Analysts believe that with these savings and improved pricing, Continentalhas a chance to achieve its full-year target 3% to 4% automotive unit margins. However, they warn that this target remains difficult to achieve due to weak demand in Europe. 🌍
What is your opinion of Continental?
That looks pretty interesting. I enjoy these original and not so common businesses😁
When I was in high school, I was in a company in Brandýs for an internship. The community is great, it's just that they've struggled to grow properly in recent years. They're making a lot of money, but they were starting to save money back then. The salaries are pretty high, they're not likely to cut those because there are not enough people in the field. I'll avoid investing, but for long term growth the trend may reverse.