China's Q1 Earnings EBIT Increases by 20% Upward

Continental has announced preliminary financial data for the first quarter. The Group raised its 2014 full-year performance forecast due to a significant increase in earnings in the previous quarter.

In the first quarter of this year, Continental Group’s operating income reached approximately 8.4 billion Euros, which was a 4% increase over the same period of last year; and adjusted EBIT (EBIT) increased by 20% year-on-year to 953 million Euros.

These are just the preliminary financial data of the mainland last quarter, and the group will release a specific financial report on May 6. In the face of the good performance of the first quarter overall performance, the mainland has revised its EBITDA forecast for this full year from the previous 10% to 10.5%.

Relying on strong demand for parking assistance systems and brake electronics products, mainland China recorded a record high in operating revenue innovation last year. This year, the group also plans to rely on these two businesses to achieve its fifth consecutive record of breaking sales revenues.

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