On March 4, Continental announced its performance data for fiscal year 2024. In the past fiscal year, Continental achieved consolidated sales of €39.7 billion (2023: €41.4 billion, -4.1 percent). Its adjusted operating result was €2.7 billion (2023: €2.5 billion, +6.6 percent), corresponding to an improved adjusted EBIT margin of 6.8 percent (2023: 6.1 percent).
Net income totaled €1.2 billion in 2024 (2023: €1.2 billion, +1.0 percent). Adjusted free cash flow was €1.05 billion (2023: €1.3 billion, -18.6 percent).
"We achieved good results in 2024 despite the difficult economic environment. We even slightly exceeded our annual target for adjusted free cash flow, which was mainly due to our good tire business and the positive cash contribution from Automotive," said Continental CFO Olaf Schick.
In the past fiscal year, the Tires group sector remained strong and improved its earnings slightly compared with the previous year, achieving sales of €13.9 billion (2023: €14.0 billion, -0.7 percent). At 13.7 percent, its adjusted EBIT margin was up slightly on the previous year (2023: 13.5 percent), mainly on the back of the growing sales share of premium tires and a stronger winter tire business in Europe.
In addition, Continental is planning to increase its production capacity in the Asia-Pacific region by an additional 3 million tires per year to make the most of the area's potential for growth. For this purpose, the company will invest more than €300 million in progressively expanding its tire plant in Rayong, Thailand, over the coming years. Continental is already extremely successful in the region. Last year, for example, it supplied original equipment tires to nine of the 10 highest-volume manufacturers of electric vehicles in the Asia-Pacific area.
In 2025, Continental expects the global production of passenger cars and light commercial vehicles to change by -1 to +1 percent. In 2024, this decreased by around 1 percent to more than 89 million vehicles. For the global tire-replacement business, the technology company expects sales volumes to develop by 0 to +2 percent.
For the Tires group sector, Continental forecasts sales of around €13.5 billion to €14.5 billion and an adjusted EBIT margin of around 13.3 to 14.3 percent.
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