Reifenhersteller: Conti erwartet trotz höherer Kautschukpreise mehr Rendite – Aktie steigt deutlich

Continental, the auto supplier, has continued to resist rising raw material prices and a weak automotive market. In the third quarter, the tire business revenue decreased by 1.5 percent to 3.5 billion euros, the company announced in Hannover on Wednesday. However, the adjusted operating income improved by seven percent to 514 million euros.

The adjusted revenue margin rose to 14.9 percent, higher than the previous year's 13.9 percent. Continental expects a stronger position in the end-of-year sprint, said CEO Christian Kötz. The prospect of a higher margin throughout the year pushed the Conti share in the Dax index up by more than six percent. The rising prices for oil and rubber due to the wars in the Middle East also entered the profit and loss account, with a delay as Conti buys raw materials three to six months in advance.

"We do not expect any relief on the raw material side," said CFO Roland Welzbacher to Reuters. In the third quarter, rising material prices amounted to a middle two-digit million figure, and a similar effect is expected in the fourth quarter. Continental is now trying to impose higher selling prices: "We are speaking with the customers," said Welzbacher.

At the beginning of the year, Continental had expected positive conditions. However, additional burdens in the low to mid-three-digit million figure must be endured, said the CFO. Nevertheless, optimism is growing: Continental narrowed the revenue forecast to the middle of the current range: the revenue in the core business is expected to be 13.5 to 13.9 billion euros in 2026 (previously 13.2 to 14.2 billion euros).

The adjusted Ebit margin is even higher, expected to be 13.4 to 14.0 percent (previously 12.0 to 13.5 percent). Numerous splits due to the sale of the auto supplier Aumovio and the Original parts business OESL before the fiscal year resulted in a loss of 756 million euros. Continental sold the business with rubber products for car manufacturers (OESL) in the spring and separated from the rest of the plastics sector ContiTech in the summer.

This is now being sold to the financial investor Lone Star for four billion euros, but the sale is not yet completed. ContiTech is doing worse than expected: the revenue for 2026 is expected to be between 4.2 and 4.4 billion euros (previously up to 4.8 billion euros), and the Ebit margin between 6.5 to 7.5 percent (previously 7.0 to 8.5 percent).

Continental is now a pure tire manufacturer. "We have again increased our earnings compared to the previous quarter and remain highly profitable, especially in Europe and Asia," said Welzbacher. Large tires for SUVs and electric vehicles drove the business.