BERLIN, March 8 (Reuters) – Continental’s (CONG.DE) web revenue in 2022 fell 95.4% year-on-year to 67 million euros ($70.60 million), the vehicles provider mentioned on Wednesday, dragged down by way of unfavorable particular results, increased rates of interest and impairing property associated with Russia.

The corporate, which reported in initial leads to January that its 2022 margin was once 5%, forecast a 5.5-6.5% margin for this yr on increased consolidated gross sales of 42-45 billion euros, up from 39.4 billion closing yr.

It incurred 3.3 billion euros in further prices in 2022 for uncooked fabrics, semi-finished merchandise, power and logistics on account of the affect of the struggle in Ukraine, coronavirus restrictions in China and the chip scarcity, it mentioned.

For 2023, it anticipated an additional 1.7 billion in risen prices for fabrics, power, logistics, wages and salaries.

World automobile manufacturing would upward thrust round 2-4% in 2023, the corporate predicted, consistent with a up to date forecast by way of Germany’s vehicles affiliation which noticed 4% enlargement this yr – nonetheless bringing the full selection of vehicles produced to under pre-pandemic ranges.

($1 = 0.9490 euros)

Reporting by way of Victoria Waldersee
Enhancing by way of Paul Carrel

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