(Reuters) -German automotive supplier Continental AG said in a preliminary estimate on Thursday that its third quarter sales totalled about 5 billion euros ($5.84 billion), narrowly beating a company complied consensus of 4.9 billion euros.
The price/mix effect developed “very positively”, almost completely offsetting the negative effects of lower volumes, exchange rate effects and tariffs, the company said in its statement.
It expected an adjusted EBIT margin of around 11.4%, beating a consensus of 9.5%.
“The strong start of the winter tire business and lower fixed costs in particular contributed to the positive earnings deviation from the analyst consensus,” the company said.
Sales in the Tires group sector amounted to around 3.5 billion euros in the third quarter, in line with expectations, with an adjusted EBIT margin of around 14.3%, beating the consensus of 13.0%.
($1 = 0.8567 euros)
(Reporting by Maria Martinez in Berlin and Chandni Shah in Bengaluru; Editing by Shailesh Kuber and Susan Fenton)
