By Shahrzad Pourriahi, Crain News Service
DETROIT (Jan. 13, 2015) — Continental A.G. achieved higher sales and a margin exceeding 11 percent for its adjusted earnings (EBIT) in the 2014 fiscal year, the company announced Jan. 12.
The gains were achieved despite the pronounced weakness of Europe's replacement tire market in the fourth quarter, Continental said in a press release on the preliminary key figures of its finances.
The Hanover, Germany-based group said that its sales grew in comparison with the previous year, reaching a figure of around $45.8 billion. Exchange rate effects amounting to about $665 million had a negative impact on sales.