Continental posts 2024 earnings in line with expectations

(Reuters) - German car parts and tire maker Continental reported 2024 earnings in line with expectations on Tuesday despite a tough market in its core region of Europe.

Adjusted earnings before interest and taxes (EBIT) came in at 2.7 billion euros ($2.83 billion). A company-provided consensus had foreseen EBIT at 2.64 million euros for the year.

For 2025, Continental said it expected sales of between 38 and 41 billion euros, and an adjusted EBIT margin of between 6.5% and 7.5%.

Continental, which cut its guidance twice last year, plans to carve out its automotive division and said it would announce new short and mid-term targets at a capital markets day in the summer.

($1 = 0.9542 euros)

(Reporting by Andrey Sychev and Victoria Waldersee, Editing by Friederike Heine)