Investor Presentation • May 23, 2018
Investor Presentation
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Ticker: CON ADR-Ticker: CTTAY Twitter: @Continental_IR http://www.continental-ir.com
| 1 | Trends in the Sector of the Automotive Group | 3 | |
|---|---|---|---|
| 2 | Trends in the Sector of the Rubber Group | 10 | |
| 3 | Continental Strategy – Outlook 2020 and Beyond |
15 | |
| 4 | Q1 2018 Results | 16 | |
| 5 | Back-up and 2016 – Q1 2018 Fact Sheets |
45 |
Sources: Roland Berger and Continental estimates. FX rate assumption 1.13 EUR/USD. 1 Not including market for electric vehicle batteries but including hybrid solutions.
Four ACES1 Will Drive Our Growth
Sources: McKinsey and Continental estimates
1) Four ACES: autonomous, connected, electrified and shared mobility
2) Total Addressable Market
3) Not including market for batteries buthybrid solutions 4) McKinsey estimates a market for digital services of US70\$ - 110 billion in 2025; FX rate assumption of 1.13 EUR/USD
Roadshow Presentation – May/June 2018
EDMR - Equity and Debt Market Relations
The Most Digitalized Portfolio in The Supplier Sector1
| Continental Automotive |
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| 0% | 10% | 20% | 30% | 40% | 50% | 60% | 70% | 80% | 90% | 100% | |
| Today: Electronics/Sensors/SW products as % of sales | Continental 2025: Electronics/Sensors/SW products as % of sales |
Source: Company filings and Continental estimates. 1 Suppliers >€3 bn sales.
Roadshow Presentation – May/June 2018
Approaching Automated Driving: Three-Layer Model
| Market for Automated Driving ~€35 bn1 by 2025 |
Recent additions to the portfolio (incl. cooperations and JVs) |
|||||
|---|---|---|---|---|---|---|
| Components | Sensors | ~€26 bn1 | solid-state flash lidar ADCU |
|||
| System | Electronics Software Integration |
~€7 bn1 | easyMile NVIDIA HUAWEI |
|||
| Environmental Model | Software Electronics |
~€2 bn1 | NTT Docomo Baidu BMW/Intel platform |
1 Source: Continental estimates.
Roadshow Presentation – May/June 2018
Software Drives Architecture, Process and Organization
Strong Order Intake Drives Sustainable Growth…
Roadshow Presentation – May/June 2018
… but Causes Sustained High R&D and Capex
Roadshow Presentation – May/June 2018
Tires Division: Four ACES Will Reduce Costs per Mile Traveled
Tires Division: Greater Access to Mobility for a Growing World Population
Sources: Continental, World Bank, Morgan Stanley, Roland Berger
Roadshow Presentation – May/June 2018
Tires Division: Strategy 2025 – Globalize Growth (mn units)1
ContiTech Division: Unveiling the Power of Digitalization
1 ACES: Automated Driving, Connectivity, Electrification and Shared Mobility 2 Passenger car and light truck
Roadshow Presentation – May/June 2018
3 Attributable to the shareholders of the parent 4 Trailing ROCE is calculated as reported EBIT for the last twelve months (LTM) divided by average operating assets for the LTM
1 Before amortization of intangibles from PPA, consolidation and special effects
2 Amortization of intangibles from PPA
Divisional Highlights for Q1 2018
| Automotive Group | Rubber Group |
|---|---|
| › Organic sales increased by 5.5%; Automotive Group: exceeding global car production by about 7%-points; adj. EBIT1 margin at 8.3% (PY: 8.3%) |
adj. EBIT1 › Organic sales up by 2.3% and Rubber Group: margin down to 12.9% (PY: 14.9%), negatively impacted by FX and some inventory revaluation effects |
| adj. EBIT1 › 10.1% margin Chassis & Safety: (PY: 9.6%); organic sales at 6.0%; ADAS unit sales up by 37% |
Adj. EBIT1 › margin down to 15.2% (PY: 18.0%); Tires: volumes down by 3%; solid price mix at 4%; FX impacted tire sales negatively by 5.5%; |
| adj. EBIT1 › 5.5% margin (PY: 6.0%); Powertrain: adj. EBIT1 organic sales up by 1.5%; margin before HEV at >9% |
organic sales up by 1.0% PC & LT tire replacement demand in Tire markets: Europe was down by 1% and North America by 2% |
| adj. EBIT1 › 8.4% margin (PY: 8.6%); organic Interior: sales increased by 8.5% again driven by strong demand for multimedia and connectivity products |
Adj. EBIT1 › margin decreased by 60 bps ContiTech: to 8.6% (PY: 9.2%); organic sales up by 5.1% driven by the Conveyor Belt Group and Industrial Fluid Systems which recovered from depressed levels |
1 Before amortization of intangibles from PPA, consolidation and special effects
Roadshow Presentation – May/June 2018 EDMR - Equity and Debt Market Relations
Continental and NVIDIA Partner to Enable Worldwide Production of Artificial Intelligence Self-Driving Cars Continental and NVIDIA announced that they are partnering to create Artificial Intelligence (AI) self-driving vehicle systems based on the NVIDIA DRIVE™ platform, with a planned market
Go to press release
Continental and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH are joining forces in a development partnership to improve the sustainability of the natural rubber supply chain in Indonesia.
Go to press release
manufacturer CITC (Sichuan Chengfei Integration Technology Co., Ltd.) will, through their respective subsidiaries, establish a joint venture for the development and production of 48-volt battery systems for the automotive industry. introduction in 2021 for level 3 automated driving features. Go to press release
Continental and CITC Establish Joint Venture for
Automotive Suppliers' Contribution to Excellence) Award for its Digital Micromirror Head-Up Display technology. Audi and Continental were also presented with an Innovation Partnership Award for the Safety Domain Control Unit (SDCU). Go to press release
Continental Wins 2018 Automotive News PACE and
Continental products are an indispensable part of its logistics centers. They range from conveyor belts and timing belts for automated storage and retrieval systems through to lines, power transmission technology and vibration dampers in forklift trucks.
AllSeasonContact tire from Continental "good in the wet and on snow; top marks for fuel economy". ADAC: "Summer and winter tires are as important as ever in terms of safe driving" Go to press release
Roadshow Presentation – May/June 2018 EDMR - Equity and Debt Market Relations
Roadshow Presentation – May/June 2018 EDMR - Equity and Debt Market Relations
Growth Profile of the Corporation Q1 2018
Roadshow Presentation – May/June 2018
4) Corporation Highlights Sustainable Value Creation
Roadshow Presentation – May/June 2018
Roadshow Presentation – May/June 2018
1 Before amortization of intangibles from PPA, consolidation and special effects
Roadshow Presentation – May/June 2018
Q1 2018: Sales and Profits Up
› Adj. EBIT1 increased by €5 mn; operating leverage2 amounted to 9%
› Adj. EBIT1 margin at 8.3% (PY: 8.3%)
1 Before amortization of intangibles from PPA, consolidation and special effects
2 Operating leverage is defined as delta adj. EBIT1 divided by delta adjusted sales
Roadshow Presentation – May/June 2018 EDMR - Equity and Debt Market Relations
Roadshow Presentation – May/June 2018
EDMR - Equity and Debt Market Relations
Roadshow Presentation – May/June 2018
› Sales decreased by €48 mn mainly due to unfavorable FX development; organic sales growth in Q1 2018 at 2.3%
1 Before amortization of intangibles from PPA, consolidation and special effects
Roadshow Presentation – May/June 2018 EDMR - Equity and Debt Market Relations
Tires Sales Bridge (€ mn) Q1 2018
Roadshow Presentation – May/June 2018
Roadshow Presentation – May/June 2018
Raw material price development1 2013 - 2018E (U.S. cents/kg)
1 Source: Bloomberg and Continental estimates for 2018
Roadshow Presentation – May/June 2018
Net Indebtedness Bridge (€ mn)
Roadshow Presentation – May/June 2018
Free Cash Flow Before Acquisitions (€ mn) in Q1 2018
2017 2017 before acquisitions 2018 2018 before acquisitions
Roadshow Presentation – May/June 2018
EDMR - Equity and Debt Market Relations
Net Indebtedness and Gearing Ratio
Roadshow Presentation – May/June 2018
Roadshow Presentation – May/June 2018
| Worldwide production |
2017 | 2018E | Chg. | ||
|---|---|---|---|---|---|
| to increase more |
Europe | 22.1 | 22.5 | +2% | |
| than 1% | North America | 17.1 | 16.8 | -2% | |
| South America | 3.3 | 3.6 | +8% | ||
| IHS and own estimates |
Asia | 51.5 | 52.5 | +2% |
| Worldwide replace- | 2017 | 2018E | Chg. | ||
|---|---|---|---|---|---|
| ment tire market to |
Europe | 351 | 358 | +2% | |
| increase by 3% |
North America | 285 | 290 | +2% | |
| South America | 73 | 76 | +4% | ||
| LMC and own estimates |
Asia | 453 | 475 | +5% |
1 Passenger cars and light trucks <6t 2 Medium and heavy vehicles >6t 3 Radial and bias
| 2017 | 2018E | Chg. | |
|---|---|---|---|
| Europe | 660 | 673 | +2% |
| North America | 513 | 559 | +9% |
| South America | 102 | 112 | +10% |
| Asia | 2,140 | 2,033 | -5% |
| Consolidated sales adj. EBIT1 margin |
2017 €44.0 bn 10.9 % |
2018E To increase to ~€47 bn at constant FX rates EBIT1 >10% adj. margin |
|---|---|---|
| Automotive Group adj. EBIT1 |
€26.6 bn €2.2 bn |
To increase to ~€28.5 bn at constant FX rates EBIT1 ~8.5% adj. margin |
| Rubber Group adj. EBIT1 |
€17.5 bn €2.6 bn |
To increase to ~€18.5 bn at constant FX rates EBIT1 >14% adj. margin |
| Raw materials cost impact | More than €450 mn for the Rubber Group |
Raw materials to have limited impact on Rubber Group based on current estimates |
| Special effects | -€14 mn |
-€100 mn |
| Financial result Tax rate |
-€187 mn at constant FX2 29% |
<-€180 mn at constant FX rates <30% |
| Capex PPA amortization |
€2.9 bn €171 mn |
Capex at around 7% of sales ~€180 mn |
| Free cash flow before acquisitions | €2.3 bn |
~€2 bn |
1 Before amortization of intangibles from PPA, consolidation and special effects
2 Before effects of currency translation and effects from changes in the fair value of derivative instruments, and other valuation effects
Roadshow Presentation – May/June 2018
› This presentation has been prepared by Continental Aktiengesellschaft solely in connection with the Analyst and Investor Call on May 8, 2018, and the subsequent road shows in Europe, North America and Asia. It has not been independently verified. It does not constitute an offer, invitation or recommendation to purchase or subscribe for any shares or other securities issued by Continental AG or any subsidiary and neither shall any part of it form the basis of, or be relied upon in connection with, any contract or commitment concerning the purchase or sale of such shares or other securities whatsoever.
› Neither Continental Aktiengesellschaft nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss that may arise from any use of this presentation or its contents or otherwise arising in connection with this presentation.
› This presentation includes assumptions, estimates, forecasts and other forward-looking statements, including statements about our beliefs and expectations regarding future developments as well as their effect on the results of Continental. These statements are based on plans, estimates and projections as they are currently available to the management of Continental. Therefore, these statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Furthermore, although the management is of the opinion that these statements, and their underlying beliefs and expectations, are realistic as of the date they are made, no guarantee can be given that the expected developments and effects will actually occur. Many factors may cause the actual development to be materially different from the expectations expressed here. Such factors include, for example and without limitation, changes in general economic and business conditions, fluctuations in currency exchange rates or interest rates, the introduction of competing products, the lack of acceptance for new products or services and changes in business strategy.
› All statements with regard to markets or market position(s) of Continental or any of its competitors are estimates of Continental based on data available to Continental. Such data are neither comprehensive nor independently verified. Consequently, the data used are not adequate for and the statements based on such data are not meant to be an accurate or proper definition of regional and/or product markets or market shares of Continental and any of the participants in any market.
› Unless otherwise stated, all amounts are shown in millions of euro. Please note that differences may arise as a result of the use of rounded amounts and percentages.
› Note: Due to the application of the modified retrospective approach during first time adoption of IFRS 9, Financial Instruments, and IFRS 15, Revenues from Contracts with Customers, as at January 1, 2018, all the figures from comparative periods are shown unadjusted.
Roadshow Presentation – May/June 2018 EDMR - Equity and Debt Market Relations
Vahrenwalder Str. 9 30165 Hanover Germany
e-mail: [email protected] Fax: +49 511 938 1080 www.continental-ir.com
Rolf Woller Head of IR Phone: +49 511 938 1068 e-mail: [email protected]
Jana Cross Assistant to the Head of IR Roadshow and Conference Organization
Phone: +49 511 938 1163 e-mail: [email protected]
| Michael Saemann Analysts, Institutional Investors and Sustainability Investors |
Phone: +49 511 938 1307 e-mail: [email protected] |
|---|---|
| Marvin Kalberlah Analysts, Institutional Investors and Social Media |
Phone: +49 511 938 14034 e-mail: [email protected] |
| Christopher Macke Analysts and Institutional Investors |
Phone: +49 511 938 1062 e-mail: [email protected] |
| Klaus Paesler Analysts, Institutional Investors, ADR and Private Investors |
Phone: +49 511 938 1316 e-mail: [email protected] |
| Sabine Reese Sustainability, ASM, CMD Organization, IR Website, Capital Market Disclosure Requirements |
Phone: +49 511 938 1027 e-mail: [email protected] |
| Preliminary figures for fiscal 2017 |
January 9, 2018 |
|---|---|
| Annual Financial Press Conference | March 8, 2018 |
| Annual Shareholders' Meeting (incl. key data for Q1 2018) | April 27, 2018 |
| Q1 Financial Report | May 8, 2018 |
| Half-Year Financial Report | August 2, 2018 |
| Nine-Month Financial Report | November 8, 2018 |
| 2019 | |
| Preliminary figures for fiscal 2018 |
January 2019 |
| Annual Financial Press Conference | March 2019 |
| Annual Shareholders' Meeting (incl. key data for Q1 2019) | April 26, 2019 |
| Q1 Financial Report | May 2019 |
| Half-Year Financial Report | August 2019 |
| Nine-Month Financial Report | November 2019 |
Roadshow Presentation – May/June 2018
| No-par value share CON |
|---|
| CONG |
| 543 900 |
| DE0005439004 |
| 200,005,983 |
| ADR Data |
|---|
| ---------- |
| Ratio | 1:5 (ordinary share : ADRs) |
|---|---|
| Bloomberg Ticker | CTTAY |
| Reuters Ticker | CTTAY.PK |
| ISIN | US2107712000 |
| ADR Level | Level 1 |
| Exchange | OTC |
| Sponsor | Deutsche Bank Trust Company Americas |
| Issuer | Continental AG |
Continental Rubber of America, Corp.1 |
Continental AG |
Continental AG |
|---|---|---|---|---|
| Issue | Senior Notes | Senior Notes | Senior Notes | Senior Notes |
| Principal amount | €750 mn |
€500 mn |
€600 mn |
€750 mn |
| Offering price | 98.950% | 99.739% | 99.410% | 99.228% |
| Rating at issuance date |
4 Ba2 (Moody's ) BB (S&P) BB (Fitch2 ) |
BBB (S&P) BBB (Fitch) |
BBB+ (S&P) BBB+ (Fitch) |
4 Ba1 (Moody's ) BB (S&P) BBB (Fitch2 ) |
| Current corporation and ratings3 bond |
BBB+ (Fitch), BBB+ (S&P), |
Baa1 (Moody's4 ) |
||
| Coupon | 3.0% p.a. | 0.5% p.a. | 0.0% p.a. | 3.125% p.a. |
| Issue date | July 16, 2013 | November 19, 2015 |
December 5, 2016 | September 9, 2013 |
| Maturity | July 16, 2018 | February 19, 2019 | February 5, 2020 | September 9, 2020 |
| Interest payment | Semi annual January 16/July 16 |
Annual February 19, Commenced February 20,2017 |
Not applicable |
Annual September 9 |
| WKN | A1X24V | A1Z7C3 | A2DARM | A1X3B7 |
| ISIN | XS0953199634 | DE000A1Z7C39 | XS1529561182 | XS0969344083 |
| Denomination | €1,000 with minimum tradable amount | €1,000 |
1 Guaranteed by Continental AG
2 Non-contracted rating at date of issuance
3 Fitch since October 24, 2016; S&P since May 11, 2016; Moody's since June 30, 2015 4 Non-contracted rating since February 1, 2014 Roadshow Presentation – May/June 2018
EDMR - Equity and Debt Market Relations
Roadshow Presentation – May/June 2018 EDMR - Equity and Debt Market Relations
| › Sales |
Increase of 0.1% to €11,012.7 mn (PY: €10,999.9 mn); organic sales up 4.3% |
|---|---|
| › EBITDA |
Decrease of 5.1% to €1,555.0 mn (PY: €1,638.5 mn) |
| › EBIT |
Decrease of 10.2% to €1,019.2 mn (PY: €1,135.1 mn); Adj. EBIT1 (9.7% adj. EBIT1 decrease to €1,058.9 mn margin); PPA2 effect -€42.2 mn; consolidation effects €8.1 mn; total special effects -€5.6 mn |
| › NIAT3 |
Decrease of 1.6% to €737.6 mn (PY: €749.6 mn) |
| › EPS3 |
EPS of €3.69 (PY: €3.75); EPS before PPA2 €3.90 before PPA2 €3.84 (PY: ) |
| › Capex |
Capex decreased to €459.4 mn (PY: €502.7 mn); capex ratio 4.2% of sales; to depreciation coverage 0.9x (0.9x ex PPA2 capex ) |
| › R&D (net) |
Expenses increased by 8.6% to €848.0 mn (PY: €780.7 mn); R&D ratio 7.7% of sales (PY: 7.1%) |
| › Cash flow |
Operating cash flow down by €230.2 mn to €634.1 mn; free cash flow €40.9 mn |
| › Net indebtedness |
Net indebtedness down by €63.8 mn to €1,983.8 mn vs. FY 2017; Liquidity and undrawn credit lines amounted to €5,887.7 mn |
| › Pension and similar obligation |
Long-term provisions for pension and similar obligations amounted to €4,111.1 mn (PY: €4,092.8 mn) |
1 Before amortization of intangibles from PPA, consolidation and special effects 2 Amortization of intangibles from PPA, tax rate of 28% applied for EPS calculation 3 Attributable to the shareholders of the parent
| Units (YOY change) | Q1/16 | H1/16 | 9M/16 | FY 16 | Q1/17 | H1/17 | 9M/17 | FY 17 | Q1/18 |
|---|---|---|---|---|---|---|---|---|---|
| Market data for PC and LT production | |||||||||
| Europe | 2% | 6% | 3% | 3% | 6% | 1% | 2% | 3% | 0% |
| North America | 4% | 3% | 2% | 2% | 2% | -1% | -4% | -4% | -3% |
| Europe and North America combined | 3% | 4% | 3% | 3% | 4% | 0% | -1% | 0% | -1% |
| Worldwide | 2% | 3% | 3% | 4% | 6% | 3% | 3% | 2% | -1% |
| Continental | |||||||||
| Organic sales growth Automotive Group | 5% | 11% | 9% | 9% | 9% | 6% | |||
| Electronic Brake Systems (EBS) | 0% | 4% | 6% | 6% | 13% | 10% | 9% | 9% | 3% |
| Boosters | -3% | -3% | 4% | 1% | 3% | 3% | 4% | 6% | 6% |
| EPB-Systems | 38% | 48% | 51% | 48% | 47% | 39% | 35% | 33% | 25% |
| Advanced driver assistance systems (ADAS) | 51% | 45% | 38% | 36% | 40% | 40% | 41% | 41% | 37% |
| Engine electronic control units (ECUs) | -2% | 3% | 6% | 8% | 12% | 9% | 7% | 7% | 2% |
| Injectors | -5% | -5% | 2% | 7% | 19% | 17% | 15% | 11% | 8% |
| Transmission control units (TCUs) | -1% | -1% | 1% | 1% | -2% | -3% | -5% | -4% | -2% |
| Turbochargers | 23% | 24% | 18% | 17% | 45% | 44% | 50% | 56% | 50% |
| Market data tires | |||||||||
| PC and LT replacement tires Europe | 2% | 2% | 2% | 2% | 6% | 2% | 2% | 3% | -1% |
| PC and LT replacement tires North America | 5% | 2% | 2% | 2% | 2% | 1% | -1% | 0% | -2% |
| Commercial vehicle tires OE Europe | 6% | 5% | 3% | 3% | 9% | 6% | 7% | 10% | 6% |
| Commercial vehicle tires OE North America | -12% | -9% | -16% | -13% | -8% | -1% | 10% | 8% | 20% |
| Commercial vehicle replacement tires Europe | 2% | 3% | 3% | 3% | 11% | 6% | 6% | 4% | 0% |
| Commercial vehicle replacement tires North America | 4% | 3% | 3% | 2% | 12% | -1% | 4% | 4% | 4% |
| Continental | |||||||||
| Organic sales growth Rubber Group | 4% | 7% | 5% | 6% | 6% | 2% | |||
| PC and LT tires | 9% | 8% | 6% | 6% | 5% | 2% | 2% | 3% | -3% |
| Commercial vehicle tires | 7% | 8% | 4% | 4% | 15% | 10% | 8% | 5% | -5% |
| ContiTech organic sales growth | 3% | 2% | 2% | 2% | 8% | 7% | 8% | 8% | 5% |
Roadshow Presentation – May/June 2018
EDMR - Equity and Debt Market Relations
| (€ mn)1 | 2014 | 2015 | 2016 | 2017 | LTM |
|---|---|---|---|---|---|
| Statement of Cash Flows | |||||
| Adjusted EBITDA2 | 5,318 | 6,094 | 6,125 | 6,701 | 6,631 |
| Reported EBITDA | 5,134 | 6,001 | 6,057 | 6,679 | 6,595 |
| Net cash interest paid | -158 | -174 | -112 | -105 | -85 |
| Tax paid | -775 | -1,015 | -1,047 | -1,122 | -1,052 |
| 3 Change in net working capital |
-207 | -107 | -210 | -484 | -628 |
| 4 Other |
175 | 210 | 250 | 253 | 161 |
| Cash flow arising from operating activities | 4,168 | 4,916 | 4,938 | 5,221 | 4,990 |
| Cash flow arising from investing activities | -2,153 | -3,472 | -3,167 | -3,468 | -3,330 |
| - thereof acquisitions | -129 | -1,257 | -516 | -596 | -511 |
| - thereof capex in PPE and intangibles | -2,110 | -2,265 | -2,708 | -2,951 | -2,891 |
| Cash flow before financing activities | 2,015 | 1,444 | 1,771 | 1,753 | 1,661 |
| Cash flow before acquisitions | 2,144 | 2,701 | 2,288 | 2,349 | 2,171 |
| Statement of Financial Position | |||||
| Cash and cash equivalents | 3,244 | 1,622 | 2,107 | 1,882 | 2,289 |
| Derivative instruments and interest-bearing investments | 364 | 81 | 48 | 161 | 184 |
| Total indebtedness | 6,432 | 5,245 | 4,952 | 4,090 | 4,456 |
| Net indebtedness | 2,824 | 3,542 | 2,798 | 2,048 | 1,984 |
| Credit Ratios | |||||
| Net indebtedness / adjusted EBITDA2 | 0.5x | 0.6x | 0.5x | 0.3x | 0.3x |
| Net cash interest paid coverage (ratio)5 | 33.7x | 35.1x | 54.8x | 63.6x | 77.8x |
1 Amounts shown may contain rounding differences
2 Adjusted EBITDA as defined in syndicated loan
3 Includes changes in inventories, trade accounts receivable, trade accounts payable and discounted notes
4 Includes dividends received, income from equity-accounted and other investments, incl. impairment and reversal of items as well as changes in employee benefits and other provisions and in other assets and liabilities
5 Adjusted EBITDA to net cash interest paid
EDMR - Equity and Debt Market Relations
Roadshow Presentation – May/June 2018 EDMR - Equity and Debt Market Relations
2,202 2,497 2,511 13.8% 13.5% 14.2% 9.6% 10.1% 2016 2017 2018 Sales (mn €) EBITDA margin Adj. EBIT margin Chassis & Safety Q1 2018 1 Before amortization of intangibles from PPA, consolidation and special effects. › Sales increased by 6.0% before consolidation and FX effects › EBITDA increased by €19.9 mn to €356.8 mn (+5.9%) › Adj. EBIT1 increased by €14.0 mn to €252.9 mn (adj. EBIT1 margin 10.1%) › EBIT increased by €14.0 mn to €252.9 mn (EBIT margin 10.1%) › PPA effect in Q1 2018: €0.0 mn › No special effects in Q1 2018 1
Refer to Fact Sheets for further details
Roadshow Presentation – May/June 2018 EDMR - Equity and Debt Market Relations
1 Before amortization of intangibles from PPA, consolidation and special effects. Refer to Fact Sheets for further details
Roadshow Presentation – May/June 2018 EDMR - Equity and Debt Market Relations
1 Before amortization of intangibles from PPA, consolidation and special effects. Refer to Fact Sheets for further details
Roadshow Presentation – May/June 2018
EDMR - Equity and Debt Market Relations
Rubber Group Financials – Tires
1 Before amortization of intangibles from PPA, consolidation and special effects. Refer to Fact Sheets for further details
Roadshow Presentation – May/June 2018 EDMR - Equity and Debt Market Relations
Roadshow Presentation – May/June 2018 EDMR - Equity and Debt Market Relations
Roadshow Presentation – May/June 2018 EDMR - Equity and Debt Market Relations
Replacement Tire Demand for
1 Before amortization of intangibles from PPA, consolidation and special effects. Refer to Fact Sheets for further details
Sales (mn €) EBITDA margin Adj. EBIT margin 1
Roadshow Presentation – May/June 2018
EDMR - Equity and Debt Market Relations
Roadshow Presentation – May/June 2018 EDMR - Equity and Debt Market Relations
| Sales (€ mn) | 2016 | 2017 | 2018 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Q1 | Q2 | Q3 | Q4 | Year | Q1 | Q2 | Q3 | Q4 | Year | Q1 | Q2 | Q3 | Q4 | Year | |
| Chassis & Safety | 2,201.8 2,246.2 2,176.8 2,352.8 8,977.6 | 2,497.4 2,437.8 2,307.8 2,524.8 9,767.8 | 2,511.2 | ||||||||||||
| Powertrain | 1,813.5 1,841.5 1,775.4 1,889.1 7,319.5 | 2,003.1 1,947.2 1,810.5 1,900.1 7,660.9 | 1,945.6 | ||||||||||||
| Interior | 2,023.0 2,099.8 2,041.2 2,160.7 8,324.7 | 2,293.9 2,318.4 2,269.0 2,423.9 9,305.2 | 2,401.7 | ||||||||||||
| Tires | 2,512.7 2,692.7 2,708.7 2,803.3 10,717.4 | 2,756.3 2,815.7 2,815.4 2,938.4 11,325.8 | 2,635.5 | ||||||||||||
| ContiTech | 1,359.1 1,376.6 1,350.5 1,376.3 5,462.5 | 1,521.4 1,587.5 1,568.3 1,569.2 6,246.4 | 1,601.7 | ||||||||||||
| Other / Consolidation | -59.4 | -65.8 | -68.8 | -58.2 | -252.2 | -72.2 | -73.6 | -78.3 | -72.5 | -296.6 | -83.0 | ||||
| Continental Corporation | 9,850.7 10,191.0 9,983.8 10,524.0 40,549.5 | 10,999.9 11,033.0 10,692.7 11,283.9 44,009.5 | 11,012.7 | ||||||||||||
| Changes Y-o-Y in % | 2017 | 2018 | |||||||||||||
| Q1 | Q2 | Q3 | Q4 | Year | Q1 | Q2 | Q3 | Q4 | Year | ||||||
| Chassis & Safety | 13.4 | 8.5 | 6.0 | 7.3 | 8.8 | 0.6 | |||||||||
| Powertrain | 10.5 | 5.7 | 2.0 | 0.6 | 4.7 | -2.9 | |||||||||
| Interior | 13.4 | 10.4 | 11.2 | 12.2 | 11.8 | 4.7 | |||||||||
| Tires | 9.7 | 4.6 | 3.9 | 4.8 | 5.7 | -4.4 | |||||||||
| ContiTech | 11.9 | 15.3 | 16.1 | 14.0 | 14.4 | 5.3 |
Continental Corporation 11.7 8.3 7.1 7.2 8.5 0.1
EDMR - Equity and Debt Market Relations
| 2016 | 2017 | 2018 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA (€ mn) | Q1 | Q2 | Q3 | Q4 | Year | Q1 | Q2 | Q3 | Q4 | Year | Q1 | Q2 | Q3 | Q4 | Year |
| Chassis & Safety | 302.8 | 312.0 | -14.4 | 354.2 | 954.6 | 336.9 | 326.9 | 300.3 | 337.5 1,301.6 | 356.8 | |||||
| Powertrain | 158.8 | 201.8 | 175.5 | 220.1 | 756.2 | 213.9 | 214.4 | 187.4 | 239.1 | 854.8 | 207.3 | ||||
| Interior | 237.4 | 252.2 | 132.5 | 282.1 | 904.2 | 273.6 | 288.1 | 287.0 | 291.3 1,140.0 | 283.4 | |||||
| Tires | 658.1 | 773.4 | 658.0 | 739.2 2,828.7 | 651.3 | 674.8 | 661.7 | 760.9 2,748.7 | 545.8 | ||||||
| ContiTech | 176.1 | 197.2 | 163.5 | 194.1 | 730.9 | 191.3 | 175.6 | 184.0 | 200.0 | 750.9 | 195.9 | ||||
| Other / Consolidation | -27.7 | -23.5 | -37.7 | -28.3 | -117.2 | -28.5 | -27.4 | -38.2 | -23.0 | -117.1 | -34.2 | ||||
| Continental Corporation | 1,505.5 1,713.1 1,077.4 1,761.4 6,057.4 | 1,638.5 1,652.4 1,582.2 1,805.8 6,678.9 | 1,555.0 |
| 2016 | 2017 | 2018 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA margin in % | Q1 | Q2 | Q3 | Q4 | Year | Q1 | Q2 | Q3 | Q4 | Year | Q1 | Q2 | Q3 | Q4 | Year |
| Chassis & Safety | 13.8 | 13.9 | -0.7 | 15.1 | 10.6 | 13.5 | 13.4 | 13.0 | 13.4 | 13.3 | 14.2 | ||||
| Powertrain | 8.8 | 11.0 | 9.9 | 11.7 | 10.3 | 10.7 | 11.0 | 10.4 | 12.6 | 11.2 | 10.7 | ||||
| Interior | 11.7 | 12.0 | 6.5 | 13.1 | 10.9 | 11.9 | 12.4 | 12.6 | 12.0 | 12.3 | 11.8 | ||||
| Tires | 26.2 | 28.7 | 24.3 | 26.4 | 26.4 | 23.6 | 24.0 | 23.5 | 25.9 | 24.3 | 20.7 | ||||
| ContiTech | 13.0 | 14.3 | 12.1 | 14.1 | 13.4 | 12.6 | 11.1 | 11.7 | 12.7 | 12.0 | 12.2 | ||||
| Continental Corporation | 15.3 | 16.8 | 10.8 | 16.7 | 14.9 | 14.9 | 15.0 | 14.8 | 16.0 | 15.2 | 14.1 |
| Changes Y-o-Y in % | 2017 | 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Q1 | Q2 | Q3 | Q4 | Year | Q1 | Q2 | Q3 | Q4 | |||
| Chassis & Safety | 11.3 | 4.8 2,185.4 | -4.7 | 36.4 | 5.9 | ||||||
| Powertrain | 34.7 | 6.2 | 6.8 | 8.6 | 13.0 | -3.1 | |||||
| Interior | 15.2 | 14.2 | 116.6 | 3.3 | 26.1 | 3.6 | |||||
| Tires | -1.0 | -12.7 | 0.6 | 2.9 | -2.8 | -16.2 | |||||
| ContiTech | 8.6 | -11.0 | 12.5 | 3.0 | 2.7 | 2.4 | |||||
| Continental Corporation | 8.8 | -3.5 | 46.9 | 2.5 | 10.3 | -5.1 |
EDMR - Equity and Debt Market Relations
| 2016 | 2017 | 2018 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EBIT (€ mn) | Q1 | Q2 | Q3 | Q4 | Year | Q1 | Q2 | Q3 | Q4 | Year | Q1 | Q2 | Q3 | Q4 | Year |
| Chassis & Safety | 213.2 | 220.3 | -107.4 | 254.7 | 580.8 | 238.9 | 227.4 | 200.0 | 231.4 | 897.7 | 252.9 | ||||
| Powertrain | 66.5 | 108.8 | 80.3 | 122.4 | 378.0 | 117.1 | 114.1 | 83.1 | 125.6 | 439.9 | 99.4 | ||||
| Interior | 160.1 | 172.9 | 51.3 | 183.5 | 567.8 | 185.7 | 196.3 | 168.5 | 198.7 | 749.2 | 184.5 | ||||
| Tires | 530.0 | 645.4 | 522.3 | 591.7 2,289.4 | 505.1 | 526.9 | 515.0 | 604.3 2,151.3 | 395.5 | ||||||
| ContiTech | 98.7 | 126.7 | 88.0 | 85.8 | 399.2 | 117.1 | 95.4 | 109.5 | 120.2 | 442.2 | 121.9 | ||||
| Other / Consolidation | -27.8 | -24.5 | -38.2 | -28.9 | -119.4 | -28.8 | -27.8 | -38.6 | -23.6 | -118.8 | -35.0 | ||||
| Continental Corporation | 1,040.7 1,249.6 | 596.3 1,209.2 4,095.8 | 1,135.1 1,132.3 1,037.5 1,256.6 4,561.5 | 1,019.2 |
| 2016 | 2017 | 2018 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EBIT margin in % | Q1 | Q2 | Q3 | Q4 | Year | Q1 | Q2 | Q3 | Q4 | Year | Q1 | Q2 | Q3 | Q4 | Year |
| Chassis & Safety | 9.7 | 9.8 | -4.9 | 10.8 | 6.5 | 9.6 | 9.3 | 8.7 | 9.2 | 9.2 | 10.1 | ||||
| Powertrain | 3.7 | 5.9 | 4.5 | 6.5 | 5.2 | 5.8 | 5.9 | 4.6 | 6.6 | 5.7 | 5.1 | ||||
| Interior | 7.9 | 8.2 | 2.5 | 8.5 | 6.8 | 8.1 | 8.5 | 7.4 | 8.2 | 8.1 | 7.7 | ||||
| Tires | 21.1 | 24.0 | 19.3 | 21.1 | 21.4 | 18.3 | 18.7 | 18.3 | 20.6 | 19.0 | 15.0 | ||||
| ContiTech | 7.3 | 9.2 | 6.5 | 6.2 | 7.3 | 7.7 | 6.0 | 7.0 | 7.7 | 7.1 | 7.6 | ||||
| Continental Corporation | 10.6 | 12.3 | 6.0 | 11.5 | 10.1 | 10.3 | 10.3 | 9.7 | 11.1 | 10.4 | 9.3 |
| Changes Y-o-Y in % | 2017 | 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Q1 | Q2 | Q3 | Q4 | Year | Q1 | Q2 | Q3 | Q4 | ||
| Chassis & Safety | 12.1 | 3.2 | 286.2 | -9.1 | 54.6 | 5.9 | ||||
| Powertrain | 76.1 | 4.9 | 3.5 | 2.6 | 16.4 | -15.1 | ||||
| Interior | 16.0 | 13.5 | 228.5 | 8.3 | 31.9 | -0.6 | ||||
| Tires | -4.7 | -18.4 | -1.4 | 2.1 | -6.0 | -21.7 | ||||
| ContiTech | 18.6 | -24.7 | 24.4 | 40.1 | 10.8 | 4.1 | ||||
| Continental Corporation | 9.1 | -9.4 | 74.0 | 3.9 | 11.4 | -10.2 |
Roadshow Presentation – May/June 2018
EDMR - Equity and Debt Market Relations
| 2017 | 2018 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Adj. EBIT ¹ (€ mn) | Q1 | Q2 | Q3 | Q4 | Year | Q1 | Q2 | Q3 | Q4 | ||
| Chassis & Safety | 238.9 | 252.9 | |||||||||
| Powertrain | 121.1 | 107.7 | |||||||||
| Interior | 197.3 | 202.1 | |||||||||
| Tires | 496.4 | 400.2 | |||||||||
| ContiTech | 139.0 | 131.0 | |||||||||
| Other / Consolidation | -28.8 | -35.0 | |||||||||
| Continental Corporation | 1,163.9 | 1,058.9 | |||||||||
| 2017 | 2018 | ||||||||||
| Adj. EBIT ¹ margin in % | Q1 | Q2 | Q3 | Q4 | Year | Q1 | Q2 | Q3 | Q4 | ||
| Chassis & Safety | 9.6 | 10.1 | |||||||||
| Powertrain | 6.0 | 5.5 | |||||||||
| Interior | 8.6 | 8.4 | |||||||||
| Tires | 18.0 | 15.2 | |||||||||
| ContiTech | 9.2 | 8.6 | |||||||||
| Continental Corporation | 10.6 | 9.7 | |||||||||
| 2018 | |||||||||||
| Changes Y-o-Y in % | Q1 | Q2 | Q3 | Q4 | |||||||
| Chassis & Safety | 5.9 | ||||||||||
| Powertrain | -11.1 | ||||||||||
| Interior | 2.4 | ||||||||||
| Tires | -19.4 | ||||||||||
| ContiTech | -5.8 | ||||||||||
| Continental Corporation | -9.0 | ||||||||||
| 1 Before |
amortization of intangibles from PPA, consolidation and special effects |
EDMR - Equity and Debt Market Relations
Consolidated Statement of Income
| 2018 | 2017 | 2016 | |
|---|---|---|---|
| (€ mn) | Q1 | Q1 | Q1 |
| Sales | 11,012.7 | 10,999.9 | 9,850.7 |
| Cost of sales | -8,221.8 | -8,135.2 | -7,249.6 |
| Gross margin on sales | 2,790.9 | 2,864.7 | 2,601.1 |
| Research and development expenses 1 | -1,026.5 | -780.7 | -716.1 |
| Selling and logistics expenses | -608.2 | -600.5 | -548.0 |
| Administrative expenses | -287.1 | -297.8 | -243.7 |
| Other expenses and income 1 | 134.9 | -64.4 | -69.0 |
| Income from equity-accounted investees | 15.1 | 13.8 | 16.4 |
| Other income from investments | 0.1 | ||
| Earnings before interest and tax | 1,019.2 | 1,135.1 | 1,040.7 |
| Interest income | 22.0 | 23.4 | 24.8 |
| Interest expense | -70.3 | -107.0 | -58.6 |
| Financial result | -48.3 | -83.6 | -33.8 |
| Earnings before tax | 970.9 | 1,051.5 | 1,006.9 |
| Income tax expense | -219.4 | -287.0 | -255.8 |
| Net income | 751.5 | 764.5 | 751.1 |
| Non-controlling interests | -13.9 | -14.9 | -17.2 |
| Net income attributable to the shareholders of the parent | 737.6 | 749.6 | 733.9 |
| Basic earnings per share (in €) | 3.69 | 3.75 | 3.67 |
| Diluted earnings per share (in €) | 3.69 | 3.75 | 3.67 |
1 Due to the application of the modified retrospective approach during first time adoption of IFRS 9, Financial Instruments, and IFRS 15, Revenues from Contracts with Customers, as at January 1, 2018, all the figures from comparative periods are shown unadjusted.
Roadshow Presentation – May/June 2018 EDMR - Equity and Debt Market Relations
| Assets in € millions | March 31, 2018 Dec. 31, 2017 | March 31, 2017 | |
|---|---|---|---|
| Goodwill | 6,967.8 | 7,010.1 | 6,977.1 |
| Other intangible assets | 1,522.8 | 1,607.3 | 1,620.5 |
| Property, plant and equipment | 11,152.1 | 11,202.1 | 10,766.8 |
| Investment property | 10.5 | 10.5 | 10.3 |
| Investments in equity-accounted investees | 428.9 | 414.8 | 382.8 |
| Other investments | 179.4 | 51.0 | 44.0 |
| Deferred tax assets | 1,529.2 | 1,517.2 | 1,819.5 |
| Defined benefit assets | 14.7 | 16.0 | 36.8 |
| Long-term contract assets | — | n. a. | n. a. |
| Long-term derivative instruments and interest-bearing investments | 40.6 | 113.3 | 17.3 |
| Long-term other financial assets | 69.4 | 68.8 | 68.0 |
| Long-term other assets | 26.9 | 27.3 | 27.1 |
| Non-current assets | 21,942.3 | 22,038.4 | 21,770.2 |
| Inventories | 4,367.0 | 4,128.2 | 4,116.5 |
| Trade accounts receivable | 8,294.8 | 7,669.3 | 8,351.9 |
| Short-term contract assets | 35.3 | n. a. | n. a. |
| Short-term other financial assets1 | 324.3 | 297.0 | 254.4 |
| Short-term other assets1 | 1,269.2 | 1,186.8 | 1,333.3 |
| Income tax receivables | 177.3 | 178.2 | 145.8 |
| Short-term derivative instruments and interest-bearing investments | 143.4 | 47.6 | 42.0 |
| Cash and cash equivalents | 2,288.6 | 1,881.5 | 1,895.7 |
| Assets held for sale | 2.0 | 13.5 | 2.0 |
| Current assets | 16,901.9 | 15,402.1 | 16,141.6 |
| Total assets | 38,844.2 | 37,440.5 | 37,911.8 |
1 From the 2018 reporting year, the presentation of financial assets is made more transparent by reclassifying deferred costs from the sale of customer tooling from short-term other financial assets to short-term other assets among these items of the statement of financial position. The figures from the comparative periods have been adjusted accordingly.
Roadshow Presentation – May/June 2018 EDMR - Equity and Debt Market Relations
| Equity and liabilities in € millions | March 31, 2018 Dec. 31, 2017 | March 31, 2017 | |
|---|---|---|---|
| Subscribed capital | 512.0 | 512.0 | 512.0 |
| Capital reserves | 4,155.6 | 4,155.6 | 4,155.6 |
| Retained earnings | 14,437.7 | 13,669.3 | 12,284.3 |
| Other comprehensive income | -2,552.0 | -2,508.5 | -1,700.6 |
| Equity attributable to the shareholders of the parent | 16,553.3 | 15,828.4 | 15,251.3 |
| Non-controlling interests | 458.1 | 461.9 | 471.1 |
| Total equity | 17,011.4 | 16,290.3 | 15,722.4 |
| Long-term employee benefits | 4,410.4 | 4,394.1 | 4,356.1 |
| Deferred tax liabilities | 352.3 | 348.5 | 444.7 |
| Long-term provisions for other risks and obligations | 133.5 | 139.6 | 205.5 |
| Long-term indebtedness | 1,459.7 | 2,017.8 | 2,783.2 |
| Long-term other financial liabilities | 35.5 | 36.1 | 106.2 |
| Long-term contract liabilities | 11.3 | n. a. | n. a. |
| Long-term other liabilities | 16.6 | 25.4 | 16.0 |
| Non-current liabilities | 6,419.3 | 6,961.5 | 7,911.7 |
| Short-term employee benefits | 1,745.0 | 1,490.6 | 1,596.1 |
| Trade accounts payable | 6,757.0 | 6,798.5 | 6,760.1 |
| Short-term contract liabilities | 1,002.1 | n. a. | n. a. |
| Income tax payables | 934.7 | 889.7 | 829.0 |
| Short-term provisions for other risks and obligations | 919.4 | 943.0 | 1,198.2 |
| Short-term indebtedness | 2,996.7 | 2,072.2 | 1,939.4 |
| Short-term other financial liabilities | 345.9 | 1,276.8 | 1,111.0 |
| Short-term other liabilities | 712.7 | 717.9 | 843.9 |
| Current liabilities | 15,413.5 | 14,188.7 | 14,277.7 |
| Total equity and liabilities | 38,844.2 | 37,440.5 | 37,911.8 |
Roadshow Presentation – May/June 2018
EDMR - Equity and Debt Market Relations
| In € millions | 2018 | 2017 |
|---|---|---|
| Net income | 751.5 | 764.5 |
| Income tax expense | 219.4 | 287.0 |
| Financial result | 48.3 | 83.6 |
| EBIT | 1,019.2 1,135.1 | |
| Interest paid | -28.2 | -47.6 |
| Interest received | 7.6 | 6.8 |
| Income tax paid | -190.3 | -260.3 |
| Dividends received | 15.2 | 10.2 |
| Depreciation, amortization, impairment and reversal of impairment losses | 535.8 | 503.4 |
| Income from equity-accounted investees and other investments, incl. impairment and reversal of impairment losses | -15.2 | -13.8 |
| Gains/losses from the disposal of assets, companies and business operations | -6.7 | -18.1 |
| Changes in | ||
| inventories | -254.3 | -248.6 |
| trade accounts receivable | -540.5 | -879.5 |
| trade accounts payable | -29.5 | 448.4 |
| employee benefits and other provisions | 272.1 | 338.5 |
| other assets and liabilities | -151.1 | -110.2 |
| Cash flow arising from operating activities | 634.1 | 864.3 |
| Cash flow from the disposal of property, plant and equipment, and intangible assets | 24.9 | 13.4 |
| Capital expenditure on property, plant and equipment, and software | -459.4 | -502.7 |
| Capital expenditure on intangible assets from development projects and miscellaneous | -13.7 | -30.3 |
| Cash flow from the disposal of companies and business operations | 0.0 | 19.1 |
| Acquisition of companies and business operations | -145.0 | -230.8 |
| 1 Cash flow arising from investing activities 1 |
-593.2 | -731.3 |
| Cash flow before financing activities (free cash flow) | 40.9 | 133.0 |
| Change in indebtedness | 387.7 | -361.7 |
| Successive purchases | -2.6 | -0.6 |
| Dividends paid to and cash changes from equity transactions with non-controlling interests | -6.4 | -0.4 |
| Cash and cash equivalents arising from first-time consolidation of subsidiaries | — | 0.6 |
| Cash flow arising from financing activities | 378.7 | -362.1 |
| Change in cash and cash equivalents | 419.6 | -229.1 |
| Cash and cash equivalents at the beginning of the reporting period | 1,881.5 2,107.0 | |
| Effect of exchange-rate changes on cash and cash equivalents | -12.5 | 17.8 |
| Cash and cash equivalents at the end of the reporting period | 2,288.6 1,895.7 |
Roadshow Presentation – May/June 2018
EDMR - Equity and Debt Market Relations
| Chassis & Safety Powertrain |
Interior | Tires | ContiTech | Cons./Corr. | Corporation | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2017 | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | 2018 | |
| Sales | 2,497.4 2,511.2 | 2,003.1 1,945.6 | 2,293.9 2,401.7 | 2,756.3 2,635.5 | 1,521.4 1,601.7 | -72.2 | -83.0 10,999.9 11,012.7 | |||||||
| EBIT in % of sales |
238.9 9.6% |
252.9 10.1% |
117.1 5.8% |
99.4 5.1% |
185.7 8.1% |
184.5 7.7% |
505.1 18.3% |
395.5 15.0% |
117.1 7.7% |
121.9 7.6% |
-28.8 | -35.0 | 10.3% | 1,135.1 1,019.2 9.3% |
| Amortization of intangible assets from PPA | 0.0 | 0.0 | 3.0 | 2.9 | 11.6 | 12.6 | 4.8 | 4.5 | 21.8 | 22.2 | 0.0 | 0.0 | 41.2 | 42.2 |
| Total special effects | 0.0 | 0.0 | 1.0 | 5.4 | 0.0 | 0.2 | -13.5 | 0.0 | 0.1 | 0.0 | 0.0 | 0.0 | -12.4 | 5.6 |
| Total consolidation effects | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 4.8 | 0.0 | 0.2 | 0.0 | -13.1 | 0.0 | 0.0 | 0.0 | -8.1 |
| Total consolidation and special effects | 0.0 | 0.0 | 1.0 | 5.4 | 0.0 | 5.0 | -13.5 | 0.2 | 0.1 | -13.1 | 0.0 | 0.0 | -12.4 | -2.5 |
| Adjusted operating result (adj. EBIT) 1 in % of adjusted sales |
238.9 9.6% |
252.9 10.1% |
121.1 6.0% |
107.7 5.5% |
197.3 8.6% |
202.1 8.4% |
496.4 18.0% |
400.2 15.2% |
139.0 9.2% |
131.0 8.6% |
-28.8 | -35.0 | 10.6% | 1,163.9 1,058.9 9.7% |
1 Before amortization of intangibles from PPA, consolidation and special effects
Roadshow Presentation – May/June 2018
EDMR - Equity and Debt Market Relations
| Automotive 2017 2018 |
Rubber 2017 2018 |
Cons./Corr. 2017 |
2018 | Corporation 2017 2018 |
||||
|---|---|---|---|---|---|---|---|---|
| Sales | 6,754.0 | 6,813.9 | 4,260.4 | 4,212.2 | -14.5 | -13.4 | 10,999.9 | 11,012.7 |
| EBIT in % of sales |
541.7 8.0% |
536.8 7.9% |
622.2 14.6% |
517.4 12.3% |
-28.8 | -35.0 | 1,135.1 10.3% |
1,019.2 9.3% |
| Amortization of intangible assets from PPA | 14.6 | 15.5 | 26.6 | 26.7 | 0.0 | 0.0 | 41.2 | 42.2 |
| Total special effects | 1.0 | 5.6 | -13.4 | 0.0 | 0.0 | 0.0 | -12.4 | 5.6 |
| Total consolidation effects | 0.0 | 4.8 | 0.0 | -12.9 | 0.0 | 0.0 | 0.0 | -8.1 |
| Total consolidation and special effects | 1.0 | 10.4 | -13.4 | -12.9 | 0.0 | 0.0 | -12.4 | -2.5 |
| Adjusted operating result (adj. EBIT) 1 in % of adjusted sales |
557.3 8.3% |
562.7 8.3% |
635.4 14.9% |
531.2 12.9% |
-28.8 | -35.0 | 1,163.9 10.6% |
1,058.9 9.7% |
1 Before amortization of intangibles from PPA, consolidation and special effects
Roadshow Presentation – May/June 2018 EDMR - Equity and Debt Market Relations
Continental's Credit Rating
1 Contracted rating since May 19, 2000. 2 Non-contracted rating since February 1, 2014. 3 Contracted rating since November 7, 2013.
Roadshow Presentation – May/June 2018 EDMR - Equity and Debt Market Relations
| Continental Investor Relations website | www.continental-ir.com |
|---|---|
| Annual and interim reports | www.continental-corporation.com/en/investors/reports |
| 2017 Fact Book (Investor presentation) | www.continental-corporation.com/en/investors/reports |
| Investor Relations events and presentations |
www.continental-corporation.com/en/investors/events/presentations |
| Sustainability at Continental (presentations for investors) |
www.continental-corporation.com/en/sustainability/downloads |
| Corporate Social Responsibility | www.continental-sustainability.com |
| Corporate Governance Principles | www.continental-corporation.com/en/company/corporate-governance/principles-and-declarations |
| Continental shares | www.continental-corporation.com/en/investors/share |
| Continental bonds and rating | www.continental-corporation.com/en/investors/debt-and-rating |
| Continental IR on Twitter | www.twitter.com/Continental_IR |
Roadshow Presentation – May/June 2018
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