Continental Net Profit Fell in 4Q, Dividend Increased
By Max Bernhard
Continental AG (CON.XE) said Thursday that its net profit fell in the fourth quarter and declared a dividend for the year.
Net profit for the fourth quarter fell 3.1% to 760.5 million euros, from EUR785.2 million a year earlier, the German auto supplier said. Revenue for the period rose 7.2% to EUR11.28 billion.
Continental declared a dividend of EUR4.50 a share, a 25-cents increase compared with the year before.
Earnings before interest, taxes, depreciation and amortization rose 3.9% to EUR1.26 billion.
For the full year, net profit rose 6.5% to EUR2.98 billion, from EUR2.80 billion a year ago. Revenue for 2017 increased 8.5% to EUR44.01 billion, Continental said.
The company confirmed its 2018 outlook it had released in January, expecting revenue to grow to around EUR47 billion, and said it is certain of reaching an adjusted Ebit margin of around 10.5%.
Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard
Corrections & Amplifications
This item was corrected on March 8, 2018 at 0809 GMT to reflect that Continental AG's net profit for the fourth quarter fell 3.1% to 760.5 million euros. The original item misstated that profit fell for the year, not the quarter in the second graph.
(END) Dow Jones Newswires
March 08, 2018 02:45 ET (07:45 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.