BERLIN (Reuters) – Car parts supplier Continental reported a drop in sales in the second quarter to 9.4 billion euros ($9.62 billion) from 9.9 billion last year, with a margin of 4.4%, in line with the company’s earlier warnings of a subdued start to the year.
In preliminary results released by Continental on Wednesday, the automotive group sector reported a negative adjusted EBIT margin of -2.3%, while the tyres division reported the highest margin at 13.8%.
Adjusted free cash flow for the Group came in at -687 million euros, the supplier reported, far below consensus of -225 million euros.
The company is due to report second-quarter results on August 9.
($1 = 0.9771 euros)
(Reporting by Victoria Waldersee, Editing by Miranda Murray)
