ContiTech achieves record sales

ContiTech generated new company record sales of €3.6 billion in 2011. It represented a 16% rise for the Hanover, Germany-based firm on its previous year sales of €3.1billion. The all-time sales high had a positive effect on recruitment as ContiTech hired around 1,400 new staff at locations around the world in 2011 - with 430 of the new jobs in Germany.
April 25, 2012 Read time: 2 mins
1527 ContiTech generated new company record sales of €3.6 billion in 2011.

It represented a 16% rise for the Hanover, Germany-based firm on its previous year sales of €3.1billion.

The all-time sales high had a positive effect on recruitment as ContiTech hired around 1,400 new staff at locations around the world in 2011 - with 430 of the new jobs in Germany.

The company’s operating result (EBIT) also improved, rising 13% from €370million to €417million. The return on sales reached 11.6%. EBIT adjusted for special effects increased by 12.4% from €397million to €446million, resulting in a return on sales based on this value of 12.5%.

The positive sales figures were seen by ContiTech as the result of good domestic and international business. The main sales markets for the company’s products remain Western Europe, especially Germany (62%). All business units worldwide saw significant growth.

China is seen by ContiTech as one of the firm’s key markets. The company has ten locations in the country and employs more than 2,200 people. Nearly half of the total business in Asia is generated in this market, which boasts sales of €220million.

“By building centres of competence, such as the Changshu plant which opened in 2010, the technology company is strengthening its local service offering,” said Heinz-Gerhard Wente, head of Continental’s ContiTech division and chairman of the ContiTech AG Executive Board.

“We are relying on our Chinese management teams for this and are frequently on the look-out for new acquisition opportunities to further optimise our market access,” he added.

For more information on companies in this article

Related Content

  • Wacker Neuson bullish with strong results
    May 8, 2019
    The Wacker Neuson Group reports a strong financial performance for the first quarter of 2019. The firm’s results reveal a double-digit rise in revenue to €434.6 million, a gain of 17%. The company saw even higher growth of profit before interest and tax (EBIT) growth to reach €30.2 million, a jump of 31%. Meanwhile the firm’s EBIT margin improved to 6.9%, a gain of 0.7%. “This strong start to the year sees us continue the dynamic pace of growth from the fourth quarter of 2018. Demand for our products and
    Read More
  • Chinese manufacturers plan to compete globally
    June 18, 2015
    Chinese construction equipment firms have been building their operations in local markets – but are now looking to develop globally - Mike Woof writes In recent years Chinese construction equipment manufacturers have been able to capitalise on local demand in the home market. The rapid rate of expansion of transport infrastructure, fuelled by government spending, led to a massive need for construction machines. The country’s manufacturers have grown rapidly in size, investing enormously in factory capacity
    Read More
  • STRABAG reports satisfactory financial performance
    February 22, 2016
    Construction firm STRABAG says that its performance in the 2015 financial year was ‘satisfactory’ and that its outlook for 2016 is positive. “We closed an overall satisfactory year in 2015 with a higher output volume on nearly unchanged employee levels and a lower order backlog. In 2016 we want to maintain the output volume at its high level and raise our EBIT margin to 3%. Thanks to our improved risk management and cost reductions, we are confident that we will reach this goal after having also succeeded i
    Read More
  • Worldwide machine sales growing
    July 18, 2012
    Steady growth in machine sales reflects global demand for construction equipment - Mike Woof reports Keynote speakers at the UK’s Construction Equipment Association (CEA) recent annual general meeting revealed steady demand for new machines worldwide. Although Europe’s economy remains troubled, worldwide machine sales are strong and exports are providing huge turnover for manufacturers. Colin Timms of Off-Highway Research said that global equipment sales last peaked in 2007 at $98 billion, falling to $55 b
    Read More

Highlighted Content