Key Developments: Continental AG (CONG.DE)

CONG.DE on Xetra

15 Aug 2014
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€-2.80 (-1.79%)
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Latest Key Developments (Source: Significant Developments)

Continental AG lowers FY 2014 revenue outlook
Thursday, 31 Jul 2014 02:30am EDT 

Continental AG:Says due to higher negative currency effect, now expects increase in consolidated sales in FY 2014 to be more limited, with sales rising to about 34.5 billion euros.Says now intends to achieve an FY 2014 adjusted EBIT margin of around 11% instead of minimum 10.5% previously forecast.FY 2014 sales of 35.2 billion euros - Thomson Reuters I/B/E/S.  Full Article

Continental AG completes 4.5 billion euro syndicated loan
Tuesday, 6 May 2014 06:31am EDT 

Continental AG:Announces the completion of a 4.5 billion euro syndicated loan to replace an existing 4.5 billion euro loan that was agreed in Jan. 2013.Says the facility comprises a 1.5 billion euro term loan maturing in April 2016 and a 3 billion euro revolving credit facility maturing in April 2019 paying initial margins of 45 bps and 70 bps over Euribor respectively, down from initial margins of 200 bps and 225 bps on the previous loan.Says a total of 31 banks committed to the new financing down from the 34 banks on the previous loan.Says lenders on the previous financing - Banco do Brasil, HSH Nordbank, Intesa SanPaolo, Raiffeisen Bank International and Scotiabank - did not participate in the new deal, while BayernLB and Standard Chartered joined as new lenders.  Full Article

Continental AG to buy remaining interest in Emitec, 50-50 joint venture co-owned by Continental and GKN plc
Tuesday, 29 Apr 2014 08:00pm EDT 

Continental AG:Intends to purchase outstanding shares in Emitec Gesellschaft fuer Emissionstechnologie mbH.Emitec, to date 50-50 joint venture co-owned by Continental and GKN plc – to be acquired by Continental and integrated into its Powertrain Division.Completion of the acquisition is subject to merger control clearance.Emitec is supplier of emissions technologies.Emitec product portfolio includes metal catalytic converters, particle filter components, and dosing modules for selective catalytic reduction (SCR).  Full Article

Continental AG issues outlook for Q1 and full FY 2014 in line with analysts' estimates and to pay out dividend
Thursday, 6 Mar 2014 02:47am EST 

Continental AG:Wants to pay out dividend of 2.50 euro per share.Sees company as getting off to solid start in Q1 2014.Reckons with a 3-to-4-pct rise in sales in Q1 2014.Says adjusted EBIT in Q1 2014 will be higher than comparable figure in previous year.Expects FY 2014 sales to grow 5 pct to around 35 billion euro.Q1 2014 revenue estimate 8.704 billion euro - Thomson Reuters I/B/E/S.Q4 2013 revenue of 8.407 billion euro.Q1 2014 EBIT estimate 983.00 million euro - Thomson Reuters I/B/E/S.Q1 2013 EBIT of 796.20 million euro.FY 2014 revenue estimate 35.624 billion euro - Thomson Reuters I/B/E/S.  Full Article

Continental AG to acquire Veyance Technologies Inc. from The Carlyle Group
Monday, 10 Feb 2014 10:17am EST 

Continental AG:Says its has signed an agreement to acquire Veyance Technologies Inc., for $1.9 billion from the Carlyle Group.Says upon closing of this transaction, the acquired business is planned to be integrated into Continental' s ContiTech Division.Says transaction is subject to merger control clearance.  Full Article

Continental AG issues 2014 sales guidance in line with analysts' estimates
Monday, 13 Jan 2014 02:33am EST 

Continental AG:Announces that for 2014 the company is aiming to increase sales by around 5 percent to approximately 35 billion euros, fiscal 2014 sales of 35.623 billion euros - Thomson Reuters I/B/E/S.Says it also aims to achieve a double-digit adjusted EBIT margin.  Full Article

Continental AG Lowers FY 2013 Revenue Guidance - Conference Call
Thursday, 7 Nov 2013 09:00am EST 

Continental AG announced that for fiscal 2013, it has changed sales guidance to around EUR33.5 billion compared to around EUR34 billion. According to I/B/E/S Estimates, analysts on average are expecting the Company to report revenue of EUR 33.7 billion for fiscal 2013.  Full Article

Continental AG Opens New EUR 40 Million Plant in Romania-SeeNews - The Corporate Wire
Monday, 30 Sep 2013 05:00pm EDT 

SeeNews - The Corporate Wire reported that Continental AG has inaugurated a EUR 40 million (USD 54.3 million) fuel pump production unit in the Industrial Park Ghimbav, Romania. The new factory near Brasov, combines the production of electrical fuel pumps, molding and the assembly of the fuel supply unit, the company said in a statement, quoting Mr. Markus Distelhoff, Director of the unit. Located in the central part of Romania, the plant will employ 500 people by the end of 2013. As of end-2012, Continental AG had invested more than EUR 700 million in its activities in Romania. It has three research and development centers in Timisoara, Sibiu and Iasi and the three plants located in Timisoara, Sibiu and Brasov.  Full Article

Commerzbank AG Decreases Stake in Continental AG
Monday, 23 Sep 2013 05:52am EDT 

Continental AG announced that Commerzbank AG has decreased its stake in the Company and its ownership has crossed the 50% threshold. As a result of the transaction Commerzbank holds 46.17% of shares in Continental AG.  Full Article

Schaeffler To Sell 4% Of Continental AG-Reuters
Monday, 16 Sep 2013 06:31pm EDT 

Reuters reported that Schaeffler Group said it will sell 4% of Continental AG to cut debt. Schaeffler is placing eight million shares with investors to pay creditors, including Goldman Sachs, which is also running the transaction, it said. The shares are worth about EUR1 billion ($1.3 billion) after the stock price of Continental AG climbed to EUR126.95 on August 16, 2013 its highest in more than 22 years, according to Thomson Reuters data.  Full Article


German antitrust body clears Continental takeover of Veyance

FRANKFURT - Germany's antitrust authority on Friday cleared auto supplier Continental AG's acquisition of Veyance Technologies, a U.S.-based maker of industrial hoses and belting.

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