Under its new boss Nikolai Setzer, Continental wants to leave the crisis behind, primarily through increased investments in further software and electronics projects. “In the future, we will be focusing on our growth areas and future technologies with even more strength and resources,” announced the CEO, who has been in office since mid-November, on Wednesday. “The software makes the difference.”

New strategy The Dax group from Hanover is now a new strategy. Within this framework, areas such as networking, assisted driving or high-performance computers in the car are to be greatly expanded. At the same time, it is important to maintain the market position in more saturated segments such as safety technology, display systems or the tire business in Europe and to “secure value contributions”.

The core business with the Auto supply at Conti had recently weakened noticeably. At group level, the new CEO Nikolai Setzer is now aiming for growth under his own steam in the medium term – i.e. excluding exchange rate effects and acquisitions – of 5 to 8 percent annually after the poor industry situation and the corona pandemic had ruined the Hanoverians’ business.

With the profit margin before interest and taxes adjusted for special effects, the company plans with 8 to 11 percent – without the drive technology, which in the coming year in the new company Vitesco should be split off. Setzer said that the automotive supply business as a whole should be the main driver in the medium term with growth of 7 to 11 percent and thus also grow 2 to 4 percentage points faster than the market. Continental no longer includes drive technology here either. In addition to brakes and interior parts, the group will concentrate on electronics, sensors and software.

(kbe)