HANOVER (dpa-AFX) - German automotive parts maker Continental AG (CTTAY.PK)
on Wednesday reported a net loss attributable to shareholders of the parent in
its first quarter of 53 million euros, compared to last year's profit of 382
million euros.

Loss per share was 0.27 euro, compared to profit of 1.91 euros a year ago.

Adjusted operating result or EBIT was 196 million euros, down 65.8 percent from
574 million euros a year ago. Adjusted EBIT margin was 2.0 percent, compared to
5.6 percent last year.

Consolidated sales were 9.8 billion euros, down 5 percent from 10.3 billion
euros a year ago.

Looking ahead, Continental said it expects earnings to improve as the year
progresses, particularly in the second half of the year, after a weak first
quarter in 2024.

Continental still anticipates consolidated sales for 2024 of around 41.0 billion
euros to 44.0 billion euros, and an adjusted EBIT margin of around 6.0 to 7.0
percent.

CFO Katja Garcia Vila said, 'Despite the weak first quarter, we see sufficient
potential for improvement across all group sectors, which is why we are
confirming our outlook for fiscal 2024.'

For the year as a whole, Continental still expects global passenger car and
light commercial vehicle production to be roughly on par with the previous year,
trending in a range of -1 to +1 percent.

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