on Continental AG (isin : DE0005439004)
Continental AG Considers Spinning Off Automotive Division
Hanover, August 5, 2024.— Continental AG has announced that its Executive Board is evaluating the potential spin-off and separate stock market listing of its Automotive group sector. This strategic decision will be finalized in the fourth quarter of 2024. If approved by the Annual Shareholders’ Meeting in April 2025, the spin-off would be completed by the end of 2025.
The goal is to unlock Continental's full value potential. The Automotive division, which consolidated its activities in 2022, generated €20.3 billion in sales last year and employs 100,000 people. The division focuses on software-defined and autonomous vehicles.
Continental's profitable Tires and ContiTech sectors, with combined sales of €20.8 billion, will remain under the company's umbrella. The Supervisory Board has been informed, and preparations for the spin-off are underway.
R. H.
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