ContiTech, one of Continental AG’s five divisions, generated sales of €3.6 billion in the past fiscal year, an increase of 16%. Among the Hanover, Germany-based technology company’s products are conveyor belts used in the quarrying and mining inustries. “We have thus once again broken the record for the best result in the company’s history,” says Heinz-Gerhard Wente, head of Continental’s ContiTech division and chairman of the ContiTech AG executive board.
ContiTech, one of Continental AG’s five divisions, generated sales of €3.6 billion in the past fiscal year, an increase of 16%.
Among the Hanover, Germany-based technology company’s products are conveyor belts used in the quarrying and mining inudtries.
“We have thus once again broken the record for the best result in the company’s history,” says Heinz-Gerhard Wente, head of Continental’s ContiTech division and chairman of the ContiTech AG executive board.
During 2011, the company’s operating result (EBIT) also improved, rising 13% from €370 million to €417 million. The return on sales reached 11.6%. EBIT adjusted for special effects increased by 12.4% from €397 million to €446 million, resulting in a return on sales based on this value of 12.5%.
While the main sales markets for ContiTech products remain Western Europe including Germany (62%), all business units worldwide saw significant growth.
