Continental AG, commonly referred to as Continental or Conti, is a German multinational automotive parts manufacturing company. It specializes in a range of automotive components, including tires, brake systems, vehicle electronics, automotive safety, powertrain, and chassis components. Based in Hanover, Germany, Continental ranks as the world’s third-largest automotive supplier and fourth-largest tire manufacturer.
Corporate Profile:
- Type: Aktiengesellschaft
- Listed on: FWB: CON, DAX Component
- Industry: Automotive Manufacturing
- Founded: October 8, 1871
- Headquarters: Hanover, Germany
- Key People: Wolfgang Reitzle (Chairman), Nikolai Setzer (CEO)
- Revenue: €41,030 million (2022)
- Operating Income: €754.8 million (2022)
- Net Income: €66.6 million (2022)
- Total Assets: €37,926.7 million (2022)
- Total Equity: €13,735.0 million (2022)
- Number of Employees: 199,038
- Parent Company: Schaeffler Group
Product Portfolio: Continental AG’s product range includes tires for various vehicles, brake systems, powertrains, chassis components, automotive safety, and vehicle electronics. It operates through six divisions: Chassis and Safety, Powertrain, Interior, Tires, ContiTech, and ADAS (Advanced Driver Assistance Systems).
Historical Milestones:
- Founded in 1871 as a rubber manufacturer, Continental-Caoutchouc und Gutta-Percha Compagnie.
- In 1898, began development and production of vehicle tires with plain tread.
- Invented the detachable wheel tire in 1905.
- In the late 1920s, merged with other rubber companies to form “Continental Gummi-Werke AG”.
- During World War II, used slave labor in factories; a dark chapter in the company’s history.
- Expanded globally with significant acquisitions including Temic, Phoenix AG, Motorola’s automotive electronics unit, and Siemens VDO.
- Faced a hostile takeover bid by Schaeffler Group in 2008.
- Acquired Kmart Tyre and Auto in Australia in 2018 for A$350 million.
Sponsorship and Motorsports:
- Continental has a history of involvement in motorsports and sponsorships, including serving as the official tire supplier for various racing championships.
Executive Management: The company’s management has seen notable figures like Carl Hahn, Hubertus von Grünberg, and Stephan Kessel. Since December 2020, Nikolai Setzer has served as the CEO.
Acquisitions and Expansion:
- Continental’s acquisition of Veyance Technologies, Inc., a major American rubber company, marked a significant expansion, particularly in the North American market.
- Continental Tire the Americas, LLC, a subsidiary, has been involved in various ventures, including sponsoring college football bowl games and establishing manufacturing plants in the U.S.