Continental : A better Q3 but still fragile (excluding exceptionals)
>No major surprises in Q3 2022 results but lower quality - Yesterday, Continental published Q3 2022 results marked by a return to positive territory at the automotive business, albeit buoyed by price effects (non-recurring component) and better than expected profitability in tyres but largely due to exceptional items. Conversely, the negative exceptional items (notably goodwill impairment of € 503m) weighed on net profit and will likely lead to downward revisions to E...Continental is an automotive industry supplier. Co.'s automotive divisions comprised of: Chassis & Safety, which develops and produces systems that provide safety and enhanced vehicle dynamics; Powertrain, which develops solutions for gasoline and diesel engines, as well as hybrid and electrical drive systems; and Interior, which provides solutions for information management within vehicles and networking between vehicles. Co.'s rubber divisions comprised of: Tires, which provides tires for passenger cars through trucks, buses and construction site vehicles to special vehicles, motorcycles and bicycles; and ContiTech, which develops products made from rubber and plastic.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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