Continental Ag, the German manufacturer of tires, brake systems, vehicle stability control systems and other parts for the automotive and transport industries said sales may increase more than 5 percent this year to more than 32 billion euros ($42.81 billion).
The German giant said global car markets may keep growing on demand from Asia and North America.
The announcement comes shortly after Continental reported its sales and operating profit for 2011.
Sales grew to 30.5 billion euros from 26.05 billion euros last year.
“In 2011 we grew nearly twice as much as the relevant markets in almost all business areas and generated a sales increase of 17% to €30.5 billion.
At the same time, our operating result (EBIT) increased twice as fast as sales to approximately €2.6 billion. We significantly improved our EBIT margin from 7.4% in the previous year to 8.5%.”
For the first time since 2006, all divisions were in the black again despite of the acquisition-related write-downs that will continue up to and including 2014,” said Continental’s Chief Executive Officer Dr. Elmar Degenhart.