Continental : Cautious message, but not that surprising in current environment
>Q1 2022 prelims release and FY 2022 outlook cut - Yesterday, Continental published preliminary Q1 earnings that were better than expected (although more than entirely driven by a positive one-off in Tyres) but nonetheless downgraded its FY guidance due to both the less favourable light vehicle production environment (+4-6% scenario vs +6-9% on 9 March 2022) and stronger inflation at the tyres activity and ContiTech (raw materials, energy, logistics). At group scale...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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