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All in all, Continental still anticipates consolidated sales for the year as a whole of around EUR 38.3 to EUR 40.1 billion and an adjusted EBIT margin of around 4.7 to 5.7%. This includes additional costs of EUR 3.5 billion as a result of the massive price increases for raw materials, semi-finished products, energy and logistics. The freight costs for a standard overseas shipping container have in some cases increased eightfold.

The war in Ukraine, the pandemic-related lockdowns in China, the limited availability of semiconductors and significant inflation affected ZF Group business. Its focus is on striking the right balance between our customers’ expectations and our earnings target while ensuring on-going investments in future technologies,” the company said.

Profit before tax stood at INR 438 crores (EUR 51.8 million which constitutes 12.3% of total revenue from operations; that is a 30.5% increase over the same quarter of the previous year. Profit after tax stood at INR 334 crores (EUR 39.5 million) which is 9.4% of revenue from operations, the company said.

Adjusted EBITDA for the second quarter of 2022 was USD 162 million, compared with USD 233 million for the same period in 2021. Profit conversion on higher sales in the second quarter of 2022 continued to be tempered by higher raw material costs and non-material inflation, as well as production inefficiencies drove by supply-chain constraints and volatile customer demand schedules across the mobility industry.

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Under the agreement, the homegrown automaker will pay over INR 725 crore and the acquisition includes entire land & buildings, Vehicle Manufacturing Plant along with machinery and equipment situated therein; and (iii) transfer of all eligible employees of FIPL’s vehicle manufacturing operations at Sanand.

The company will stop producing Jazz after October 2022 while the crossover WR-V will not be produced beyond March 2023. The carmaker will also stop the production and sale of the 4th Generation Honda City by December 2022 in the country. However, the 5th generation of the sedan will continue to be available in the market, a source in the know of things told ETAuto.

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