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German car parts supplier Continental sales up in 2013

 

BERLIN,  (Xinhua) -- German auto parts supplier Continental AG reported an improved sales in 2013 on Monday, while expecting a better performance in the new year due to robust global auto industry.

The Hannover-based company said in a statement that its sales increased to around 33.3 billion euros (about 45.4 billion U.S. dollars) in the past year. With an adjusted earning before interest and tax margin of 11.2 percent, the world's leading auto parts manufacturer gained a revenue of 3.7 billion euros.

"Our strong commitment has paid off: We were able to more than offset the economic limitations in Southern Europe and some emerging markets," said Continental CEO Elmar Degenhart in a statement, adding that the company had offset considerable negative exchange rate effects due to strong euro, which according to him amounted to over 700 million euros.

The company said it aimed to increase its sales by around 5 percent to about 35 billion euros in the new year, citing an optimistic expectation about global auto industry.

"In 2014, we expect global production of cars with a total weight of up to six metric tons to increase from around 83 million units in 2013 to more than 85 million units. We want to grow faster than the global passenger car market," stated Degenhart.

Earlier on January, German auto industry association VDA said that around 5.45 million cars were produced in 2013 in Germany, home of carmaker Volkswagen, Daimler and BMW, mainly due to strong demands from abroad.

The association expected global auto sales to increase by 3 percent to 74.7 million units, among which nearly 23 percent would be contributed by China market, while over 21 percent by the United States.

 

 

 
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