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MarketScreener Homepage  >  Equities  >  Xetra  >  Continental AG    CON   DE0005439004

CONTINENTAL AG

(CON)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 04/08 03:57:27 pm
70.2 EUR   +0.72%
07:36aCONTINENTAL AG : UBS reiterates its Neutral rating
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04/06CONTINENTAL AG : Morgan Stanley reiterates its Buy rating
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04/06CONTINENTAL AG : Sell rating from JP Morgan
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Continental : and Menke Agrar Agree Strategic Partnership for Selling...

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02/19/2020 | 03:53am EDT
  • Broad coverage: Agridur drive belts available to more than 9,000 specialist dealers and repair workshops
  • OEM quality: durable drive belts increase reliability during harvest process
  • Customer focus: technology and sales expertise open up new options on market

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Hanover, February 19, 2020. Technology company Continental and Agravis group subsidiary Menke Agrar have agreed a strategic partnership for selling drive belts. The trading company for the agricultural sector is one of the top independent providers of replacement parts and accessories for agricultural machinery, with sales channels in Germany and Europe. Continental has developed the belts, which are primarily produced in Hanover, specifically for the requirements of the agricultural sector. 'We are opening up new options for the market and untapped potential for both companies by combining our partner's sales network with our technological expertise,' says Rodrigo Maia, who is responsible for the drive system industrial business unit at Continental.


Two large, long-standing companies pulling together

In the future, the drive belts in the Agridur portfolio will be available to the specialist dealers and repair workshops that Menke Agrar supports in Germany as well as central and eastern Europe. This will enable farmers to rely on a broad portfolio that covers all applications, from wrapped V-belts to banded V-belts and variable speed belts, as well as poly-V-belts.

With annual sales of more than €6.6 billion, Hanover-based Agravis Raiffeisen is one of the top independent providers of replacement parts for agricultural machinery and one of Germany's largest agricultural trading companies. 'Two large and long-standing Hanover-based companies have therefore joined forces to supply farmers with high-performance belts of OEM quality - and with outstanding availability at that,' explains Maia.

Impressive quality and performance

Thanks to their long running times and vital resistance to dirt, dust and extreme temperatures, the drive belts make agriculture safer and more efficient.

Michael Grote, who is in charge of product management and purchasing at Menke Agrar, explains why Menke chose Continental as its strategic partner on the agricultural market, commenting that 'quality, performance and availability are decisive criteria for being able to take a customer-oriented approach in the agricultural sector. They assure operators that their highly complex and expensive agricultural machinery will not spontaneously break down during the short harvest season and that a replacement could be provided quickly in the worst-case scenario. We are delighted to have a reliable partner for providing the best possible products and services at our side in Continental.'

Disclaimer

Continental AG published this content on 19 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 February 2020 08:52:00 UTC

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Financials (EUR)
Sales 2020 40 430 M
EBIT 2020 1 937 M
Net income 2020 650 M
Debt 2020 4 200 M
Yield 2020 3,66%
P/E ratio 2020 20,9x
P/E ratio 2021 8,85x
EV / Sales2020 0,45x
EV / Sales2021 0,41x
Capitalization 14 020 M
Chart CONTINENTAL AG
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Technical analysis trends CONTINENTAL AG
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 80,75  €
Last Close Price 70,10  €
Spread / Highest target 125%
Spread / Average Target 15,2%
Spread / Lowest Target -46,1%
EPS Revisions
Managers
NameTitle
Elmar Degenhart Chairman-Executive Board
Wolfgang W. Reitzle Chairman-Supervisory Board
Wolfgang Schäfer Head-Finance, Controlling, Compliance & Law
Michael Iglhaut Member-Supervisory Board
Dirk Nordmann Member-Supervisory Board
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