Preliminary Consolidated Financial Statements 2016 >

Transcription

1 Preliminary Consolidated Financial Statements 2016 > 6 The following results and amounts are preliminary statements that have not yet been approved or adopted by the Supervisory Board.

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3 Preliminary Consolidated Financial Statements Continental Corporation Continental Corporation in millions Sales 40, ,232.0 EBITDA 6, ,001.4 in % of sales EBIT 4, ,115.6 in % of sales Net income attributable to the shareholders of the parent 2, ,727.4 Earnings per share in Research and development expenses 2, ,449.6 in % of sales Depreciation and amortization 1 1, ,885.8 thereof impairment Operating assets as at December 31 21, ,678.5 Operating assets (average) 20, ,680.7 ROCE Capital expenditure 3 2, ,178.8 in % of sales Number of employees as at December , ,899 Adjusted sales 5 40, ,232.0 Adjusted operating result (adjusted EBIT) 6 4, ,369.0 in % of adjusted sales Excluding impairment on financial investments. 2 Impairment also includes necessary reversal of impairment losses. 3 Capital expenditure on property, plant and equipment, and software. 4 Excluding trainees. 5 Before changes in the scope of consolidation. 6 Before amortization of intangible assets from purchase price allocation (PPA), changes in the scope of consolidation, and special effects.

4 Preliminary Consolidated Financial Statements Development of Core Business Areas: Automotive Group Automotive Group in millions Sales 24, ,574.5 EBITDA 2, ,973.2 in % of sales EBIT 1, ,014.4 in % of sales Research and development expenses 2, ,097.2 in % of sales Depreciation and amortization 1 1, thereof impairment Operating assets as at December 31 12, ,696.7 Operating assets (average) 11, ,237.5 ROCE Capital expenditure 3 1, ,274.7 in % of sales Number of employees as at December , ,888 Adjusted sales 5 24, ,574.5 Adjusted operating result (adjusted EBIT) 6 1, ,038.4 in % of adjusted sales Excluding impairment on financial investments. 2 Impairment also includes necessary reversal of impairment losses. 3 Capital expenditure on property, plant and equipment, and software. 4 Excluding trainees. 5 Before changes in the scope of consolidation. 6 Before amortization of intangible assets from purchase price allocation (PPA), changes in the scope of consolidation, and special effects.

5 Preliminary Consolidated Financial Statements Development of Core Business Areas: Rubber Group Rubber Group in millions Sales 16, ,704.6 EBITDA 3, ,181.5 in % of sales EBIT 2, ,255.8 in % of sales Research and development expenses in % of sales Depreciation and amortization thereof impairment Operating assets as at December 31 8, ,085.0 Operating assets (average) 8, ,556.6 ROCE Capital expenditure 3 1, in % of sales Number of employees as at December ,966 91,603 Adjusted sales 5 15, ,704.6 Adjusted operating result (adjusted EBIT) 6 2, ,485.2 in % of adjusted sales Excluding impairment on financial investments. 2 Impairment also includes necessary reversal of impairment losses. 3 Capital expenditure on property, plant and equipment, and software. 4 Excluding trainees. 5 Before changes in the scope of consolidation. 6 Before amortization of intangible assets from purchase price allocation (PPA), changes in the scope of consolidation, and special effects.

6 Preliminary Consolidated Financial Statements EBITDA EBITDA in millions in % of sales Chassis & Safety , Powertrain Interior , Tires 2, , ContiTech Other/consolidation Continental Corporation 6, , EBIT EBIT in millions in % of sales Chassis & Safety Powertrain Interior Tires 2, , ContiTech Other/consolidation Continental Corporation 4, , Adjusted Operating Result (Adjusted EBIT) 1 Adjusted operating result (adjusted EBIT) 1 in millions in % of adjusted sales Chassis & Safety Powertrain Interior Tires 2, , ContiTech Other/consolidation Continental Corporation 4, , Before amortization of intangible assets from purchase price allocation (PPA), changes in the scope of consolidation, and special effects. 2 Before changes in the scope of consolidation.

7 Preliminary Consolidated Financial Statements Key Figures per Share 1 in (unless otherwise specified) Net income attributable to the shareholders of the parent Diluted earnings Free cash flow Dividend Dividend payout ratio (%) Dividend yield (%) Total equity (book value) as at December Yearly average price-earnings ratio (P/E ratio) Share price at year-end Average share price Share price at year-high Share price at year-low Average XETRA trading volume per trading day (in units) 436, ,734 Number of outstanding shares, average (in millions) Number of outstanding shares as at December 31 (in millions) All market prices are quotations of the Continental share in the XETRA system of Deutsche Börse AG. 2 Subject to the approval of the Annual Shareholders Meeting on April 28, Equity attributable to the shareholders of the parent per share. 4 Net income attributable to the shareholders of the parent per share at the annual average share price. Consolidated Statement of Income in millions Sales 40, ,232.0 Cost of sales -29, ,056.8 Gross margin on sales 10, ,175.2 Research and development expenses -2, ,449.6 Selling and logistics expenses -2, ,179.0 Administrative expenses -1, Other expenses and income Income from at-equity accounted investees Other income from investments Earnings before interest and tax 4, ,115.6 Interest income Interest expense Net interest result Earnings before tax 3, ,870.0 Income tax expense -1, ,090.4 Net income 2, ,779.6 Non-controlling interests Net income attributable to the shareholders of the parent 2, ,727.4 Basic earnings per share in Diluted earnings per share in

8 Preliminary Consolidated Financial Statements Consolidated Statement of Financial Position Starting with the year under review, 2016, the structure of the equity and liabilities side has been presented in an adjusted form to increase transparency with regards to employee benefits. All of the following figures from comparative periods as well as disclosures have been adjusted accordingly. Assets in millions Dec. 31, 2016 Dec. 31, 2015 Jan. 1, Goodwill 6, , ,769.1 Other intangible assets 1, , Property, plant and equipment 10, , ,446.4 Investment property Investments in at-equity accounted investees Other investments Deferred tax assets 1, , ,573.4 Defined benefit assets Long-term derivative instruments and interest-bearing investments Long-term other financial assets Long-term other assets Non-current assets 21, , ,923.3 Inventories 3, , ,987.6 Trade accounts receivable 7, , ,846.2 Short-term other financial assets Short-term other assets Income tax receivables Short-term derivative instruments and interest-bearing investments Cash and cash equivalents 2, , ,243.8 Assets held for sale Current assets 14, , ,317.8 Total assets 36, , , A third statement of financial position as at the start of the 2015 fiscal year has been prepared, as the structure of the equity and liabilities side has been adjusted starting from the year under review, 2016.

9 Preliminary Consolidated Financial Statements Equity and liabilities in millions Dec. 31, 2016 Dec. 31, 2015 Jan. 1, Subscribed capital Capital reserves 4, , ,155.6 Retained earnings 11, , ,404.3 Other comprehensive income -1, , ,399.8 Equity attributable to the shareholders of the parent 14, , ,672.1 Non-controlling interests Total equity 14, , ,024.6 Long-term employee benefits 4, , ,641.2 Deferred tax liabilities Long-term provisions for other risks and obligations Long-term indebtedness 2, , ,077.4 Long-term other financial liabilities Long-term other liabilities Non-current liabilities 7, , ,141.0 Short-term employee benefits 1, , ,093.1 Trade accounts payable 6, , ,861.6 Income tax payables Short-term provisions for other risks and obligations 1, Short-term indebtedness 2, , ,354.2 Short-term other financial liabilities 1, , Short-term other liabilities Liabilities held for sale Current liabilities 13, , ,075.5 Total equity and liabilities 36, , , A third statement of financial position as at the start of the 2015 fiscal year has been prepared, as the structure of the equity and liabilities side has been adjusted starting from the year under review, 2016.

10 Preliminary Consolidated Financial Statements Consolidated Statement of Cash Flows in millions Net income 2, ,779.6 Income tax expense 1, ,090.4 Net interest result EBIT 4, ,115.6 Interest paid Interest received Income tax paid -1, ,015.3 Dividends received Depreciation, amortization, impairment and reversal of impairment losses 1, ,885.8 Income from at-equity accounted and other investments, incl. impairment and reversal of impairment losses Gains from the disposal of assets, companies and business operations Changes in inventories trade accounts receivable trade accounts payable employee benefits and other provisions other assets and liabilities Cash flow arising from operating activities 4, ,915.6 Cash flow from the disposal of property, plant and equipment, and intangible assets Capital expenditure on property, plant and equipment, and software -2, ,178.8 Capital expenditure on intangible assets from development projects and miscellaneous Cash flow from the disposal of companies and business operations Acquisition of companies and business operations ,256.9 Cash flow arising from investing activities -3, ,472.0 Cash flow before financing activities (free cash flow) 1, ,443.6 Changes in short-term debt Proceeds from the issuance of long-term debt Principal repayments on long-term debt ,133.4 Successive purchases Dividends paid Dividends paid to and cash changes from equity transactions with non-controlling interests Cash and cash equivalents arising from first consolidation of subsidiaries Cash flow arising from financing activities -1, ,097.6 Change in cash and cash equivalents ,654.0 Cash and cash equivalents as at January 1 1, ,243.8 Effect of exchange rate changes on cash and cash equivalents Cash and cash equivalents as at December 31 2, , The prior-year comparative figures have been adjusted in accordance with the current structure.

11 Preliminary Consolidated Financial Statements Segment Reporting Segment report by division for 2016 in millions Chassis & Safety Powertrain Interior Tires ContiTech Other/ consolidation Continental Corporation External sales 8, , , , , ,549.5 Intercompany sales Sales (total) 8, , , , , ,549.5 EBIT (segment result) , ,095.8 in % of sales thereof income from at-equity accounted investees Capital expenditure ,593.0 in % of sales Depreciation and amortization ,961.6 thereof impairment Internally generated intangible assets Significant non-cash expenses/income Segment assets 7, , , , , ,378.9 thereof investments in at-equity accounted investees Segment liabilities 2, , , , , ,310.2 Operating assets as at December 31 4, , , , , ,068.7 Operating assets (average) 4, , , , , ,453.1 ROCE Number of employees as at December ,907 37,502 43,344 52,057 42, ,137 Adjusted sales 5 8, , , , , ,261.7 Adjusted operating result (adjusted EBIT) , ,341.2 in % of adjusted sales Capital expenditure on property, plant and equipment, and software. 2 Excluding impairment on financial investments. 3 Impairment also includes necessary reversal of impairment losses. 4 Excluding trainees. 5 Before changes in the scope of consolidation. 6 Before amortization of intangible assets from purchase price allocation (PPA), changes in the scope of consolidation, and special effects.

12 Preliminary Consolidated Financial Statements Segment report by division for 2015 in millions Chassis & Safety Powertrain Interior Tires ContiTech Other/ consolidation Continental Corporation External sales 8, , , , , ,232.0 Intercompany sales Sales (total) 8, , , , , ,232.0 EBIT (segment result) , ,115.6 in % of sales thereof income from at-equity accounted investees Capital expenditure ,178.8 in % of sales Depreciation and amortization ,885.8 thereof impairment Internally generated intangible assets Significant non-cash expenses/income Segment assets 6, , , , , ,759.3 thereof investments in at-equity accounted investees Segment liabilities 2, , , , , ,080.8 Operating assets as at December 31 4, , , , , ,678.5 Operating assets (average) 4, , , , , ,680.7 ROCE Number of employees as at December ,062 35,364 40,462 48,955 42, ,899 Adjusted sales 5 8, , , , , ,232.0 Adjusted operating result (adjusted EBIT) , ,369.0 in % of adjusted sales Capital expenditure on property, plant and equipment, and software. 2 Excluding impairment on financial investments. 3 Impairment also includes necessary reversal of impairment losses. 4 Excluding trainees. 5 Before changes in the scope of consolidation. 6 Before amortization of intangible assets from purchase price allocation (PPA), changes in the scope of consolidation, and special effects.

13 Preliminary Consolidated Financial Statements Reconciliation of EBIT to Net Income in millions Chassis & Safety Powertrain Interior Tires 2, ,085.2 ContiTech Other/consolidation EBIT 4, ,115.6 Net interest result Earnings before tax 3, ,870.0 Income tax expense -1, ,090.4 Net income 2, ,779.6 Non-controlling interests Net income attributable to the shareholders of the parent 2, ,727.4 Continental AG in millions Net income Accumulated profits brought forward from the previous year Retained earnings 1, ,014.2 A dividend payment of 4.25 per share shall be proposed to the Annual Shareholders Meeting on April 28, 2017.

14 Preliminary Consolidated Financial Statements Financial Calendar 2017 Preliminary figures for fiscal 2016 January 9 Annual Financial Press Conference March 2 Analyst and Investor Conference Call March 2 Annual Shareholders Meeting (including key figures for the first quarter of 2017) April 28 Financial Report as at March 31, 2017 May 9 Half-Year Financial Report as at June 30, 2017 August 3 Financial Report as at September 30, 2017 November Preliminary figures for fiscal 2017 January Annual Financial Press Conference March Analyst and Investor Conference Call March Annual Shareholders Meeting (including key figures for the first quarter of 2018) April 27 Financial Report as at March 31, 2018 May Half-Year Financial Report as at June 30, 2018 August Financial Report as at September 30, 2018 November

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16 Continental Aktiengesellschaft P.O. Box 1 69, Hanover, Germany Vahrenwalder Strasse 9, Hanover, Germany Phone: , Fax: mailservice@conti.de