Mar 07, 2017
The business division of Rubber Group Continental AG reported a 2% increase in sales for 2016, to 16 billion euros.
Profits in the rubber segment of the company's business increased by 11% - up to 3.6 billion euros, with growth demonstrated by the tire division, and ContiTech.
The profit of the tire division before interest and taxes increased from 2.6 billion euros in 2015 to 2.8 billion for 2016, and the ContiTech division demonstrated an impressive increase in profits of 26.6%, to 731 million euros.
Sales of the ContiTech division in 2016 showed record growth of 2.5% - up to 5.5 billion euros.
The tire division sold a record high number of cars and truck tires - about 150 million pieces. Organic sales growth of the Conti tire division totaled 4.7%; Sales reached 10.7 billion euros.
Margin on profit increased by 21.7%.
In addition, the unit account for the last year, two significant acquisitions - the British company Bandvulc and the American Hoosier Racing Tire.
In 2017, the Rubber Group business unit expects that the cost of raw materials will have a negative effect on financial results reaching 500 million euros. At the same time, in 2016 the speech, on the contrary, was about a positive effect of 150 million euros.