Mainland Group's Second Quarter Net Profit Surges by 34.7%
Continental has announced the financial reports for the second quarter and the first half of this year, which are as follows: In the second quarter of this year, Continental Group's sales reached 8.54 billion euros, an increase of 4.3% year-on-year to 8.11 billion euros in the same period of last year; Sales reached 16.57 billion euros, 16.51 billion euros in the first half of last year, a slight increase of 0.4% year-on-year.
In the quarter, Continental’s EBIT rose to 883 million euros from 876 million euros in the same period of last year, which was a year-on-year increase of 2%. However, EBIT dropped from 10.6% in the same period last year to 10.3%; EBIT decreased by 1.4% year-on-year to 1.63 billion euros, and EBIT dropped from 10% in the same period last year to 9.8%.
Mainland's second-quarter net profit reached 700 million euros, a sharp increase of 34.7% compared with the same period of last year. In the first half of the year, net profit totaled 987 million euros, an increase of 9.6% from 0.9 billion euros in the same period of last year.
Among the two major business groups, the auto group’s total sales for the first half of the year reached 10.07 billion euros, a slight increase of 0.6% year-on-year. Earnings before interest and taxes reached 637 million euros, and EBIT increased from 6.2% in the same period last year to 6.3%.
In the first half of the year, the rubber group’s sales amounted to 6.52 billion euros, a slight increase of 0.2% over the same period of last year, reaching 6.52 billion euros; EBITDA was 1.04 billion euros, and the EBIT margin was 16%, but it was down from the same period of last year. 0.4%.
Due to the slow recovery of replacement tires in Europe and the slowdown in the growth of the Asian and North American Free Trade Zone markets, the Continental Group reduced its annual operating revenue growth forecast from 5% to 4% this year.
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