ContiTech generated new company record sales of €3.6 billion in 2011. It represented a 16% rise for the Hanover, Germany-based firm on its previous year sales of €3.1billion. The all-time sales high had a positive effect on recruitment as ContiTech hired around 1,400 new staff at locations around the world in 2011 - with 430 of the new jobs in Germany.
It represented a 16% rise for the Hanover, Germany-based firm on its previous year sales of €3.1billion.
The all-time sales high had a positive effect on recruitment as ContiTech hired around 1,400 new staff at locations around the world in 2011 - with 430 of the new jobs in Germany.
The company’s operating result (EBIT) also improved, rising 13% from €370million to €417million. The return on sales reached 11.6%. EBIT adjusted for special effects increased by 12.4% from €397million to €446million, resulting in a return on sales based on this value of 12.5%.
The positive sales figures were seen by ContiTech as the result of good domestic and international business. The main sales markets for the company’s products remain Western Europe, especially Germany (62%). All business units worldwide saw significant growth.
China is seen by ContiTech as one of the firm’s key markets. The company has ten locations in the country and employs more than 2,200 people. Nearly half of the total business in Asia is generated in this market, which boasts sales of €220million.
“By building centres of competence, such as the Changshu plant which opened in 2010, the technology company is strengthening its local service offering,” said Heinz-Gerhard Wente, head of Continental’s ContiTech division and chairman of the ContiTech AG Executive Board.
“We are relying on our Chinese management teams for this and are frequently on the look-out for new acquisition opportunities to further optimise our market access,” he added.
