Continental could hit the high end of its 2021 margin target

FRANKFURT (Reuters) – German automotive supplier Continental could hit the upper end of its 2021 margin forecast after vehicle production resumes in the fourth quarter, its chairman of the board told WirtschaftsWoche magazine.

Continental is forecasting an adjusted operating margin of around 5.2% to 5.6% this year.

“There is a chance of reaching the upper part of our forecast,” said Nikolai Setzer, quoted by the German magazine.

On the Frankfurt Stock Exchange, the Continental title took 1.8% in the morning, among the largest increases in the DAX 30 index.

(Report Christoph Steitz; French version Dina Kartit, edited by Blandine Hénault)