Continental AG

Continental is an automotive industry supplier. Co.'s automotive divisions comprised of: Chassis & Safety, which develops and produces systems that provide safety and enhanced vehicle dynamics; Powertrain, which develops solutions for gasoline and diesel engines, as well as hybrid and electrical drive systems; and Interior, which provides solutions for information management within vehicles and networking between vehicles. Co.'s rubber divisions comprised of: Tires, which provides tires for passenger cars through trucks, buses and construction site vehicles to special vehicles, motorcycles and bicycles; and ContiTech, which develops products made from rubber and plastic.
  • Ticker543900
  • ISINDE0005439004
  • SectorAutomobiles & Parts
  • CountryGermany

Analysts

Alexandre Iatrides ...
  • Benoit Valleaux
  • Jean Sassus
  • Jerôme Bodin
  • Khaled Ben Amor
  • Louis Boujard
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Roland Pfaender
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/08/2019

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Michael Foundoukidis

Continental : Outlook still too uncertain to return to the stock

>Another challenging quarter, Neutral rating maintained - Continental’s Q2 2019 results did not contain any major surprises after the preliminary results release and revision to its full-year guidance two weeks ago. However, margins in tyres were weak, FCF was lower than expected (but with no impact on FY targets) and the message from the management was relatively cautious, including for beyond 2019.Against this backdrop, we only marginally revise our estimates, ...

Michael Foundoukidis

Continental : Un horizon encore trop incertain pour revenir sur le titre

>Encore un trimestre difficile, opinion Neutre maintenue - Continental a publié des résultats T2 2019 sans grande surprise après les préliminaires et la révision de sa guidance annuelle il y a deux semaines avec, toutefois, une rentabilité dans le pneu faible, un FCF inférieur aux attentes (mais sans conséquence sur les objectifs annuels) et un message relativement prudent du management, y compris au-delà de 2019.Dans ce contexte, nos estimations, en ligne avec l...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Jean Sassus
  • Jerôme Bodin
  • Khaled Ben Amor
  • Louis Boujard
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Roland Pfaender
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/08/2019

...

Ng Adrian

Continental AG

Continental AG - December 2017 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Continental AG - September 2017 (LTM): Peer Snapshot

Peer Snapshot:  Continental AG - September 2017 (LTM) 20 December 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Sep-17 FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM Sep-17

Continental AG: Key facts and statistics

CORPORATES ISSUER PROFILE 20 November 2017 TABLE OF CONTENTS Company overview 1 Business description 2 Company history 2 Acquisition by Schaeffler Group 3 Business divisions 3 Management strategy 5 Financial highlights 6 Capital structure and debt maturity 8 Company management 9 Ownership structure

Continental AG - June 2017 (LTM): Peer Snapshot

Peer Snapshot:  Continental AG - June 2017 (LTM) 11 September 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM Jun-17

Continental AG - March 2017 (LTM): Peer Snapshot

Peer Snapshot:  Continental AG - March 2017 (LTM) 7 June 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Mar-17 FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Dec-14 FYE Dec-15 LTM Dec-16

Michael Foundoukidis

Continental : Outlook still too uncertain to return to the stock

>Another challenging quarter, Neutral rating maintained - Continental’s Q2 2019 results did not contain any major surprises after the preliminary results release and revision to its full-year guidance two weeks ago. However, margins in tyres were weak, FCF was lower than expected (but with no impact on FY targets) and the message from the management was relatively cautious, including for beyond 2019.Against this backdrop, we only marginally revise our estimates, ...

Michael Foundoukidis

Continental : Un horizon encore trop incertain pour revenir sur le titre

>Encore un trimestre difficile, opinion Neutre maintenue - Continental a publié des résultats T2 2019 sans grande surprise après les préliminaires et la révision de sa guidance annuelle il y a deux semaines avec, toutefois, une rentabilité dans le pneu faible, un FCF inférieur aux attentes (mais sans conséquence sur les objectifs annuels) et un message relativement prudent du management, y compris au-delà de 2019.Dans ce contexte, nos estimations, en ligne avec l...

Michael Foundoukidis

ODDO : Auto suppliers still under pressure in the run-up to publications

In the run-up to publications, we have revised down our 2019 production scenario (-3.5% est. vs -1.6%), our estimates (~4% on average) and our target prices (~5% on average). In the face of persistently unfavourable momentum, we are sticking with our cautious stance on suppliers (Valeo downgraded to Reduce vs Neutral) and our preference for the tyre segment and Michelin, in particular. - >The assumption of a rebound in production in H2 2019 has been cast into doubt - ...

Michael Foundoukidis

ODDO : Les équipementiers encore sous pression à l’approche des publications

A l’approche d’une saison de publications à haut risque, nous révisons en baisse notre scénario de production 2019 (-3.5%e vs -1.6%), nos estimations (~4% en moyenne) et nos objectifs de cours (~5% en moyenne). Face à un momentum qui devrait donc rester difficile, y compris sur 2020/21, nous maintenons notre prudence sur les équipementiers (nous dégradons Valeo à Alléger vs Neutre) et notre préférence pour les pneus et Michelin. - >La thèse du rebond de la production au S2...

Michael Foundoukidis

ODDO : Renault-FCA: what impact for suppliers?

>Winner and losers, as always - The announcement of discussions between Renault and FCA regarding the merger project may have not insignificant consequences for auto suppliers. The announcement by FCA of a six-year synergy target of € 5bn, of which 40% stemming from purchasing is, granted, ambitious but also reflects the importance of this domain to such a tie-up and may suggest the prospect of greater consolidation within the supplier’s space. Whilst some suppliers w...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Jean Sassus
  • Jerôme Bodin
  • Khaled Ben Amor
  • Louis Boujard
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Roland Pfaender
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/08/2019

...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Jean Sassus
  • Jerôme Bodin
  • Khaled Ben Amor
  • Louis Boujard
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Roland Pfaender
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/08/2019

...

François Maury ...
  • Georges Dieng
  • Jerôme Bodin
  • Michael Foundoukidis

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/28/2019

...

Anis Zgaya ...
  • Hana Maalej
  • Jean-François Granjon
  • Khaled Ben Amor
  • Michael Foundoukidis
  • Olfa Taamallah
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 05/28/2019

...

François Maury ...
  • Georges Dieng
  • Jerôme Bodin
  • Michael Foundoukidis

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 28/05/2019

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Ng Adrian

Continental AG

Ng Adrian

Continental AG

Ng Adrian

Continental AG

Ng Adrian

Continental AG

CONTINENTAL AG sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of CONTINENTAL AG (DE), active in the Tires industry. As regards its fundamental valuation, the title now shows 3 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date March 22, 2019, the closing price was EUR 137.55 and its target price was estimated at EUR 115.85.

Expert Corporate Governance Service (ECGS)

Continental - AGM 26 April 2019

Items 3.1-3.8: We recommend to oppose the discharge of the Management Board. The issuance of two profit warnings in financial year 2018 raises fundamental concerns over the reliability of the Management Board's forecasting ability and its communication to stakeholders. Item 4.4: We recommend to oppose the discharge of Supervisory Board member Francesco Grioli due to his insufficient attendance at Supervisory Board and committee meetings in financial year 2018. Item 5: KPMG, Hanover, is proposed as auditor for the current financial year. We have no concerns over the ratio of non-audit/audit f...

Continental – Proxinvest Corporate Governance Rating ® : D

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Proxy Report - 27/04/2018

Items 4.13 and 4.20: We recommend opposing the discharge of Supervisory Board members Maria-Elisabeth Schaeffler-Thumann and Prof. KR Ing. Siegfried Wolf due to their insufficient attendance at Supervisory Board and committee meetings in financial year 2017. Item 5: KPMG, Hanover, is proposed as auditor for the current financial year. We have no concerns over the ratio of non-audit/audit fees. However, we note that KPMG or its predecessor have audited the Company since at least the financial year 1975 (no earlier data available) which significantly exceeds our maximum acceptable term of offic...

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 28/04/2017

Items 4.4, 4.14, 4.18: We recommend opposing the discharge of Supervisory Board members Prof. Dr.-Ing. Peter Gutzmer, Maria-Elisabeth Schaeffler-Thumann and Elke Volkmann due to their insufficient attendance at Board meetings.Item 5: We recommend opposing the re-appointment of KPMG, Hanover, as auditor for the current financial year. KPMG has audited the Company since at least the financial year 1975 (no earlier data available) which exceeds our maximum acceptable term of office. We consider a longer term of office may impair the auditor's independence.Item 6: We recommend opposing the approva...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Add exposure to cyclicals Our positive outlook on global equities (both the MSCI ACWI and ACWI ex-US) remains intact and we believe a “buy the dip” strategy is warranted. We recommend taking advantage of recent weakness -- where applicable -- by adding exposure to cyclical Sectors. • Actionable Sectors: Consumer Discretionary and Manufacturing. Today's recommendations focus on autos, auto parts, and machinery which span the Discretionary and Manufacturing Sectors. We initially recommended adding exposure to autos and auto parts in our 3/14/19 Int'l Compass, and we view the recent mild pullb...

Matthieu DRIOL

Analyse court terme - CONTINENTAL : La reprise est une consolidation.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 145,15 € prochainement. Le prochain objectif est à 126,75 €, puis 117,81 €. Le franchissement de 162,45 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Short term view - CONTINENTAL : Rising consolidation.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €145.15. The next target is at €126.75, then €117.81. Passing €162.45 would question the continuation of the fall.

Matthieu DRIOL

Short term view - CONTINENTAL : Rising consolidation.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €145.15. The next target is at €126.75, then €117.81. Passing €162.45 would question the continuation of the fall.

Matthieu DRIOL

Analyse court terme - CONTINENTAL : La reprise est une consolidation.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 145,15 € prochainement. Le prochain objectif est à 126,75 €, puis 117,81 €. Le franchissement de 162,45 € remettrait en cause la suite de la baisse.

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