Continental Q2 profit falls, raises FY sales outlook

Luke Sharrett | Bloomberg | Getty Images

A worker loads automotive tires onto a conveyor belt at the Continental Tire Sumter plant distribution warehouse in Sumter, South Carolina.

But the world’s second-largest automotive supplier raised its full-year sales guidance by 500 million euros to more than 44 billion euros and stood by its profit forecast which includes an adjusted EBIT margin target of 10.5 percent.

Continental, which makes driver-assistance technology, fuel-injection systems and vehicle tires, said it expects about 450 million euros in raw material cost headwinds until the end of the year, 50 million euros less than previously forecast.