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Continental AG sees significantly lower revenues, profit in 2020

BERLIN German auto parts supplier Continental AG said it expected worldwide vehicle production to decline up to 20% in the current quarter year-on-year and could not give a detailed 2020 guidance due to the impact of the coronavirus pandemic.

The Hanover-based group said on Wednesday revenues, adjusted operating profit and free cash flow are expected to significantly decline this year.

“There are still big economic uncertainties,” the company said in a statement.

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Source: News18