In Q1, Continental's adjusted sales came to ME 9761, down 5.1% on Q1 2023.

At the same time, adjusted EBIT fell by 65.8% to €196m, leaving Continental with a net loss (group share) of €53m, a far cry from the €382m net profit recorded twelve months earlier.

EPS came to -0.27 euros, compared with +1.91 euros in Q1 2023.
Finally, adjusted FCF also deteriorated, to -1.1 billion euros (a 14% decline).

Despite a weak first quarter, we see sufficient potential for improvement in all the Group's sectors, which is why we are confirming our outlook for fiscal 2024', said Katja Garcia Vila, Continental's CFO.

As a reminder, the manufacturer is targeting sales of between 41 and 44 billion euros in 2024,%. with an adjusted EBIT margin of around 6 to 7%.

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