Continental AG

CON: XETR (DEU)
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Continental Earnings: Full-Year Guidance Intact Despite Higher Oil Price; Miss on ContiTech Multiple

In the second quarter, Continental reported flat tire revenue and significantly improved adjusted EBIT margin of 15.3% versus 12.1% the year prior, driving improved group free cash flow to EUR 216 million. The sale of ContiTech has been finalized at a 4 times enterprise value/EBITDA multiple.

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