Continental Sees Revenue Gain as Electric Cars Drive Growth
- Revenue in 2017 to climb 6% as growth outpaces auto sector
- Orders for hybrid, e-car components rose 17% last year
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Continental AG expects revenue growth to outpace the overall auto industry’s gains this year on rising demand for technology used in autonomous and electric cars.
Sales in 2017 will climb more than 6 percent to 43 billion euros ($45 billion), compared with a 1 percent gain in global car and light-commercial vehicle production, Hanover, Germany-based Continental said in a statement on Monday. Operating profit is projected to remain roughly stable at “comfortably” more than 10.5 percent of sales after a margin of around 10.7 percent in 2016.