Fact Book 2015

Transcription

Fact Book 2015

Fact Book
2015
www.continental-corporation.com
© Continental AG
Fact Book 2015 | 1
Contents
I.
Continental at a Glance
Slide
Title
Page
1
Disclaimer
8
3
More than 140 Years of Progress and Achievement
9
4
Continental Corporation – Sales, EBIT & Net Income
9
5
Continental Ranks No. 2 in Worldwide Supplier Ranking
10
6
Executive Board
10
7
Megatrends in the Automobile Industry
11
8
A Leading Global Supplier for Key Automotive Electronics Applications
11
9
A Leading Global Supplier of Tire and Non-Tire Rubber Products
12
10
Sales by Market
12
11
EBITDA by Group and Corporation
13
12
Consolidated Sales
13
13
Number of Employees
14
II.
Continental Strategy
Slide
Title
Page
15
Corporate Strategy at a Glance
15
16
Sustainable Value Creation
15
17
Cost Consciousness – Production in Best-Cost Countries
16
18
Balanced Distribution of Sales
16
19
Top Position for the 20 Fastest Growing Automotive Technologies through 2020
17
20
Continental Corporation Worldwide
17
21
Sales OE Automotive/Non-OE Automotive
18
22
Technological Balance
18
23
The Same Values Worldwide for a Shared Corporate Culture
19
© Continental AG
Fact Book 2015 | 2
Contents
III.
Automobile Megatrends
Slide
Title
Page
25
We Shape the Megatrends in the Automobile Industry
20
26
Environment: Initiatives in EU, USA and Japan – Towards Lower CO2 Emissions
20
27
Environment: Initiatives for Cleaner Mobility in Various Markets
21
28
Environment: Today’s Vehicle Emissions vs. Future Targets
21
29
Environment: Engine Development Roadmap
22
30
Environment: Reduction of CO2 Emissions: Solutions by Continental
22
31
Environment: How to Reach the European CO2 Target of 75g/km
23
32
Information: Interior: Examples of Market-Specific Initiatives and Projects
23
33
Information: Interior: Information Management – in the Vehicle and Beyond
24
34
Information: Interior: Product Highlights for Intelligent Mobility
24
35
Safety: Market-Specific Initiatives – Towards Safer Mobility
25
36
Safety: Road Traffic Deaths per 100,000 Inhabitants by Region
25
37
Safety: Global Development of Active Safety Regulations & Ratings
26
38
Safety: Euro NCAP 5 Star Rating Requirements
26
39
Safety: History and Roadmap for Accident-Free Driving
27
40
Safety: Future Automotive Trends
27
41
Safety: From Basic to Complex Scenarios; from Single to Networked Systems
28
42
Safety: World Market Forecast for Driver Assistance Systems
28
43
Safety: Winter Tire Regulations
29
44
Safety and Environment: Tire Labeling Initiatives in Europe, USA, Japan,
South Korea and Brazil
29
45
Safety and Environment: Tire Labeling Initiatives in Gulf Countries and China
30
© Continental AG
Fact Book 2015 | 3
Contents
IV.
Sustainability at Continental
Slide
Title
Page
47
Our Policies and Guidelines
31
48
Corporate Environmental Key Performance Indicators
31
49
Emission Reduction – Electrification Tailored to Fit (48-Volt Eco Drive)
32
50
Emission Reduction – Electrification Tailored to Fit
32
51
Research in Alternative Raw Materials for Tire Production
33
52
Equal Opportunity
33
53
UERÈ Project in Rio de Janeiro, Brazil
34
54
Corporate Memberships (1)
34
55
35
56
Ratings and Indices
35
57
Health and Occupational Safety
36
58
Corporate Bodies
36
V.
Continental Corporation
Slide
Title
Page
60
Key Consolidated Figures
37
61
Sales and Adjusted EBIT by Quarter
38
62
Key Historical Financials and Credit Metrics – IAS 19 (rev. 2011) applied
38
63
Net Indebtedness and Gearing Ratio
39
64
Gross Indebtedness by Source
39
65
Maturities for Syndicated Loan and Bonds
40
66
Purchasing – Production Materials 2015
40
67
Raw Material Prices
41
© Continental AG
Fact Book 2015 | 4
Contents
VI.
Market Data
Slide
Title
Page
69
Installation Rates of Electronic Brake Systems
42
70
Installation Rates of Fuel Injection Systems
42
71
Development of Transmissions Technologies
43
72
Installation Rates of Turbochargers in Gasoline Engines
43
73
Installation Rates of Keyless Entry Systems
44
74
Installation Rates of Multimedia Systems
44
75
Sensors per car of Advanced Driver Assistance Systems
45
76
Rising Volumes of Head-Up Displays
45
77
Production of Passenger Cars and Light Commercial Vehicles (<6t)
46
78
Production of Medium and Heavy Commercial Vehicles (>6t)
46
79
Replacement Tires – Passenger Cars and Light Commercial Vehicles (<6t)
47
80
Replacement Tires – Medium and Heavy Commercial Vehicles (>6t)
47
VII.
Automotive Group
Slide
Title
Page
82
Key Figures
48
83
Sales and Adjusted EBIT by Division
49
84
Sales by Market
49
85
Order Intake (LTS) in the Automotive Group €30 bn in 2015
50
86
Production of Passenger Cars and Light Trucks (<6t)
50
87
Opportunities and Challenges in the Medium Term
51
88
Growth Opportunities – Electronic Stability Control (ESC)
51
89
Growth Opportunities – Advanced Driver Assistance Systems (ADAS)
52
90
Growth Opportunities – Vehicle-to-X
52
91
Growth Opportunities – Sensors and Actuators
53
92
Growth Opportunities – Selective Catalytic Reduction
53
93
Growth Opportunities – Gasoline Direct Injection (GDI)
54
94
Growth Opportunities – Gasoline Turbo Chargers (TC)
54
95
Growth Opportunities – 48V Technology
55
96
Growth Opportunities – Tire Information Systems (TIS)
55
97
Growth Opportunities – Driver HMI Displays
56
98
Growth Opportunities – Road Database
56
99
Growth Opportunities – Mirro Replacement
57
© Continental AG
Fact Book 2015 | 5
Contents
VII.1.
Slide
Automotive Group – Chassis & Safety Division
Title
Page
101
Business Units and Key Products
58
102
Locations Worldwide
58
103
Key Figures
59
104
Sales by Market
59
105
Market Position for Electronic Brake Systems 2015
60
106
Market Position for Foundation Brake Systems 2015
60
107
Market Position for Actuation 2015
61
108
Market Position for Airbag Electronics 2015
61
109
Market Position for Advanced Driver Assistance Systems 2015
62
110
Growing Sales Volume for Electronic Brake Systems
62
VII.2.
Slide
Automotive Group – Powertrain Division
Title
Page
112
63
113
Locations Worldwide
64
114
Key Figures
64
115
Sales by Market
65
116
Market Position for Diesel Injection Systems 2015
65
117
Market Position for Gasoline Injection Systems 2015
66
118
Market Position for Transmission Control Units 2015
66
119
Opportunities and Challenges
67
120
Shared Mobility – Overrated?
67
VII.3.
Slide
Automotive Group – Interior Division
Title
Page
122
68
123
Locations Worldwide
69
124
Key Figures
69
125
Sales by Market
70
126
Market Position for Body & Security 2015
70
127
Market Position for Instrumentation & Driver HMI 2015
71
128
Market Position for Infotainment & Connectivity 2015
71
129
Market Position for Commercial Vehicle 2015
72
© Continental AG
Fact Book 2015 | 6
Contents
VIII.
Slide
Rubber Group
Title
Page
131
Key Figures
73
132
Sales and Adjusted EBIT by Division
73
133
Sales by Market
74
134
Growth Opportunities – Replacement Tires Demand for PC&LT Tires
74
135
Growth Opportunities – Improving Tire Mix due to rising SUV & Pick-Up Share
75
136
Additional Tire Production Capacity of 29 mn Units by 2017/18
75
137
Tires: Key Initiatives 2001 – Vision 2025
76
138
Tires Vision 2015 – Towards a more Balanced Footprint
76
139
Cumulative Market for ContiTech Products
77
VIII.1. Rubber Group – Tires Division
Slide
Title
Page
141
Business Units and Tire Brands
78
142
Key Figures
78
143
Sales by Market
79
144
Market Share for Passenger and Light Truck Tires 2015
79
145
Market Share for Truck Tires 2015
80
146
Continental Worldwide PLT Production 2015
80
147
Continental European PLT Production 2015
81
148
Continental Worldwide Truck Tire Production 2015
81
149
Cost of Labor at Continental Manufacturing Sites
82
150
Passenger and Light Truck Tires: Product Mix Improvement
82
151
Passenger and Light Truck Tires: Unit Sales 2010 – 2015
83
152
Commercial Vehicle Tires: Unit Sales 2010 – 2015
83
© Continental AG
Fact Book 2015 | 7
Contents
VIII.2. Rubber Group – ContiTech Division
Slide
Title
Page
154
84
155
Forming a Global Player in Rubber and Plastics Technologies
85
156
Locations Worldwide
85
157
Key Figures
86
158
Sales by Market
86
159
Product Overview
87
IX.
Share & Bond Information
Slide
Title
Page
161
Share Data / ADR Data
88
162
Share Price Development vs. Major Stock Indexes
88
163
Common Stock
89
164
Shareholder Structure
89
165
Bond Details
90
166
Development of the Bonds
90
167
Development of Continental’s Credit Rating
91
168
10 Year Financial Overview
91
X.
Glossary
Slide
Title
Page
170
Financial Glossary
92
171
Product and Division Glossary
93
172
Contact Data
93
173
Investor Relations Online
94
174
Financial Calendar
94
© Continental AG
Fact Book 2015 | 8
Disclaimer
This Fact Book has been prepared by Continental Aktiengesellschaft and includes information available to us as of March 7, 2016. It has not
been independently verified. It does not constitute an offer, invitation or recommendation to purchase or subscribe for any shares or other
securities issued by Continental AG or any of its affiliates and neither shall any part of it form the basis of, or be relied upon in connection with,
any contract or commitment concerning the purchase or sale of such shares or other securities or any other financial investment or exposure
whatsoever.
Neither Continental Aktiengesellschaft nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or
otherwise) for any loss that may arise from any use of this presentation or its contents or otherwise arising in connection with this presentation.
This Fact Book includes assumptions, estimates, forecasts and other forward-looking statements, including statements about our beliefs and
expectations regarding future developments as well as their effect on the results of Continental. These statements are based on plans,
estimates and projections as they are currently available to the management of Continental. Therefore, these statements speak only as of the
date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Furthermore,
although the management is of the opinion that these statements, and their underlying beliefs and expectations, are realistic as of the date they
are made, no guarantee can be given that the expected developments and effects will actually occur. Many factors may cause the actual
development to be materially different from the expectations expressed here. Such factors include, for example and without limitation, changes
in general economic and business conditions, fluctuations in currency exchange rates or interest rates, the introduction of competing products,
the lack of acceptance for new products or services and changes in business strategy.
All statements with regard to markets or market position(s) of Continental or any of its competitors are estimates of Continental based on data
available to Continental. Such data are neither comprehensive nor independently verified. Consequently, the data used are not adequate for
and the statements based on such data are not meant to be an accurate or proper definition of regional and/or product markets or market
shares of Continental and any of the participants in any market.
Unless otherwise stated, all amounts are shown in millions of Euro. Please note that differences may arise as a result of the use of rounded
amounts and percentages.
1
Topics
I.
II.
15
III. Automobile Megatrends
25
IV. Sustainability at Continental
47
V. Continental Corporation
60
VI. Market Data
69
VII. Automotive Group
3
82
VIII. Rubber Group
131
IX. Share and Bond Information
161
X. Glossary
170
2
© Continental AG
Fact Book 2015 | 9
I. Continental at a Glance
145 Years of Progress and Achievement
Takeover of the European tire operations of Uniroyal,
the tire operations of the Austrian company Semperit,
the North American tire manufacturer General Tire.
ContinentalCaoutchouc- and
Gutta-Percha
Compagnie is
founded in
Hanover,
Germany.
1871
Continental reinforces its activities by
acquiring Temic, the international
electronics specialist.
Continental expands its activities in
telematics, among other fields, with
the acquisition of the automotive
electronics business from Motorola.
Continental expands its
tire operations by
integrating Barum.
1979
1985
1929 1987
Continental acquires a majority interest in
the Slovak company Continental Matador
Rubber s.r.o. and expands its position for
the Tire and ContiTech divisions in Central
and Eastern Europe.
2001
1993
Continental strengthens its
position in the tire business
in Asia by acquiring the
Indian tire manufacturer
Modi Tyres Company
Limited.
2006
2011
2007
2003
1998
Merger with major
companies of the
German rubber industry
to form Continental
Gummi-Werke AG.
2004
Continental strengthens its
position in the ASEAN
market and Australia by
establishing
its Continental Sime Tyre
joint venture.
Acquisition of a US
company’s Automotive
Brake & Chassis unit,
the core of which is
Alfred Teves GmbH in
Frankfurt.
Continental strengthens
its position in rubber and
plastic technology by
acquiring Veyance
Technologies.
2012
2013
Continental acquires Siemens VDO
Automotive AG and advances to among
the top five suppliers in the automotive
industry worldwide, at the same time
boosting its market position in Europe,
North America and Asia.
Continental expands
Software and Systems
Expertise through the
acquisition of Elektrobit.
2014
2015
Continental intensifies its
operations as a complete system
supplier for exhaust aftertreatment
by acquiring Emitec.
Continental acquires Parker
Hannifin’s automotive air
conditioning business, the conveyor
belt producer Legg Company and
the conveyor belt activities of Metso.
Through the acquisition of
Phoenix, ContiTech becomes
one of the world’s leading
specialists for rubber and
plastics technology outside the
tire industry.
3
Continental Corporation – Sales, EBIT & Net Income (NIAT1)
IFRS
US GAAP
39,232
In € mn
32,736
33,331
3,186
3,264
1,905
1,923
2012
2013
34,506
30,505
26,047
24,239
20,096
4,116
16,619
Sales
10,115
533
EBIT
NIAT
11,233
11,408
11,534
694
855
226
314
2002
2003
33
1
205
12,597
1,157
716
13,837
1,507
930
14,887
1,602
982
3,345
2,597
1,935
1,676
2,375
2,727
1,242
1,021
-296
-1,040
576
-258
2000
1
2
2001
2004
2005
2006
2007
2
-1,124
-1,649
2008
2009
2010
Net income attributable to the shareholders of the parent, from 1998 until 2003 US GAAP / from 2004 onwards IFRS.
Siemens VDO incorporated starting December 1, 2007.
IAS 19 (rev. 2011) applied starting 2013. The 2012 figures have been restated accordingly.
2011
2014
2015
4
© Continental AG
Fact Book 2015 | 10
Continental Ranks No. 2 in Worldwide Supplier Ranking
Top 10 Global OEM Suppliers – 2015 Sales (in € bn)
1
45
2
3
4
40
Robert Bosch only includes Mobility Solutions division.
Continental not including ContiTech industrial business.
ZF including TRW Automotive since Jan 2015.
Bridgestone including Diversified Products.
35
30
25
20
15
10
Faurecia
Michelin
Aisin
Seiki
4
Bridgestone
Hyundai
Mobis
Magna
ZF
Denso
3
2
Continental
0
Robert
Bosch 1
5
5
Source: Company filings. Calendarized to December year end. Based on average currency exchange rates 2015.
Executive Board
Dr. Elmar Degenhart
Chairman of the Executive Board
Corporate Functions:
Corporate Quality and Environment, Corporate Communications,
Continental Business System, Automotive Central Functions
Dr. Ariane Reinhart
Human Relations, Director of Labor Relations, Sustainability
Wolfgang Schäfer
Finance, Controlling, Compliance, Law, IT
Hans-Jürgen Duensing
ContiTech Division
Dr. Ralf Cramer
Helmut Matschi
Continental China
Interior Division
Frank Jourdan
Chassis & Safety Division
Nikolai Setzer
José A. Avila
Tire Division
Powertrain Division
6
© Continental AG
Fact Book 2015 | 11
Megatrends in the Automobile Industry
Environment – For Clean Power
Information – For Intelligent Driving
1
CO2 Fleet Emission Targets 2020/21 (NEDC)
Driver and Passenger
Devices
Infrastructure
Other Vehicles
95g/km2
122g/km
125g/km
117g/km
1 New
European Driving Cycle.
for 95% of the OEMs fleets.
Source: ICCT Int. Council of Clean Transportation, Global Passenger
Vehicle FE/GHG regulations (1/2015).
Vehicle
2 Mandatory
Safety – For Safe Mobility
Affordable Cars – For Global Mobility
A&B Production Segment1 in BRIC
(mn units)
Road Traffic Deaths
Number of Road Traffic Deaths per 100,000 Inhabitants by Region1
16,2
Europe and Russia
9.3
Eastern
Mediterranean
12,3
19.9
17.3
15.9
26.6
Americas
Western
Pacific
17.0
Africa
South East Asia
per 100.000 population
2015
1
Source: Global Status Report on Road Safety, World Health Organization (WHO) 2015.
Data based on framework created by the World Health Organization (WHO) for estimating road
traffic mortality.
2020E
Source: IHS February 2016.
1Including Mini Full-Frame.
7
A Leading Global Supplier for Key Automotive Electronics Applications
Chassis & Safety
Powertrain
Interior
› Actuation
› Diesel injection systems
› Body and security products
› Advanced driver assistance
systems (ADAS)
› Gasoline injection systems
› Commercial vehicle interiors
› Transmission control units
› Airbag electronics
› Turbochargers
› Device connectivity and
telematics units
› Electronic brake systems (EBS)
› 48 V and Plug-In Hybrid
› Foundation brake systems
› Full Electric Vehicle
Sales 2015
Sales 2015
€8,450 mn
% of total
Adj.
21%
EBIT1
€817 mn
Adj. EBIT margin
9.7%
ESC2 installation rate by markets (%)
› Instrumentation, displays and
human machine interfaces
› Intelligent Transport Systems
€7,069 mn
% of total
Adj.
18%
EBIT1
€425 mn
Adj. EBIT margin
6.1%
Gasoline direct injection systems
installation rate by markets (%)
37%
2020E
China
3
21%
€824 mn
Adj. EBIT margin
10.2%
Market for Automotive Electronics3
(USD bn)
76%
235
64%
35%
2015
2
Adj.
EBIT1
309
74%
65%
€8,155 mn
% of total
96%
88%
1
Sales 2015
EU
2015
EU
NAFTA
2020E
Before amortization of intangibles from PPA, consolidation and special effects.
ESC: Electronic Stability Control is a type of electronic brake system.
Source: Strategy Analytics: Automotive Electronics System Demand Forecast 2012 to 2021, Jan 2015.
2015
2020E
8
© Continental AG
Fact Book 2015 | 12
A Leading Global Supplier of Tire and Non-Tire Rubber Products
Tires
ContiTech
Passenger & Light Truck Tires
Commercial Vehicle Tires
› Markets
› EMEA
› The Americas
› APAC
› Products
› Original equipment
› Replacement
› Winter tires,
high performance tires
› Markets
› EMEA
› The Americas
› APAC
› Products
› Original equipment
› Replacement
› Commercial Specialty Tires
Sales 2015
€10,409 mn
% of total
€5,368 mn
% of total
14%
Adj. EBIT1
€2,109 mn
Adj. EBIT margin
Automotive hoses and hose lines
Automotive interior trim
Conveyor belts
Industrial hoses
Multiple V-ribbed belts and
timing belts
› Air springs for railways, trucks &
buses
› Vibration absorbers
› Elastomer coatings
Sales 2015
26%
Adj. EBIT1
›
›
›
›
›
20.4%
€435 mn
Adj. EBIT margin
Sales breakdown (%)
10.4%
Sales breakdown (%)
OE
29%
NonOE
50%
OE
50%
NonOE
71%
1
9
Sales by Market
Automotive Group 2015
€23,575 mn
Rubber Group 2015
€15,705 mn
Other
countries
1%
Asia
26%
Germany
24%
Other
countries
7%
Asia
12%
Corporation 2015
€39,232 mn
Other
countries
5%
Germany
18%
Asia
20%
Germany
21%
NAFTA
27%
NAFTA
26%
Europe
(excluding
Germany)
23%
Europe
(excluding
Germany)
36%
NAFTA
26%
Europe
(excluding
Germany)
28%
10
© Continental AG
Fact Book 2015 | 13
EBITDA by Group and Corporation
Automotive Group 2015
€2,973 mn
Rubber Group 2015
€3,182 mn
Corporation 2015
€6,001 mn
ContiTech
18%
Chassis &
Safety
39%
ContiTech
9%
Chassis &
Safety
19%
Interior
36%
Powertrain
12%
Tires
42%
Interior
18%
Tires
82%
Powertrain
25%
11
Consolidated Sales
by Market
by Division
(in bn €)
30.5
5%
39.2
5%
32.7
5%
33.3
5%
18%
19%
34.5
5%
33%
20%
30.5
20%
17%
19%
22%
1
32.7
33.3
11%
11%
34.5
14%
11%
26%
28%
28%
20%
20%
19%
19%
19%
21%
21%
22%
22%
21%
2011
2012
2013
2014
2015
6%
29%
22%
22%
21%
30%
30%
30%
28%
20%
19%
26%
25%
24%
23%
21%
2011
2012
2013
2014
2015
Germany
39.2
12%
26%
22%
(in bn €)
Rest of Europe
Since 2012 reported as Tires.
NAFTA
Asia
Other markets
20%
ContiTech
Commercial Vehicle Tires 1
Interior
Chassis & Safety
18%
Tires 1
Passenger and Light Truck Tires1
Powertrain
12
© Continental AG
Fact Book 2015 | 14
Number of Employees
by Market
163,788
6%
18%
207,899
5%
169,639
6%
177,762
6%
18%
189,168
5%
16%
31%
31%
30%
2011
Germany
1
29%
2012
163,788
19%
19%
17%
18%
6%
17%
177,762
21%
18%
17%
6%
25%
25%
24%
19%
31%
32%
31%
19%
28%
28%
2013
NAFTA
169,639
25%
16%
Rest of Europe
207,899
189,168
19%
16%
15%
by Division
19%
19%
19%
18%
18%
17%
19%
18%
20%
20%
21%
20%
19%
2011
2012
2013
2014
2015
27%
2014
Asia
20%
2015
Other markets
ContiTech
Commercial Vehicle Tires 1
Interior
Chassis & Safety
Tires 1
Passenger and Light Truck Tires1
Powertrain
13
Since 2012 reported as Tires.
Topics
I.
II.
15
25
47
60
VI. Market Data
69
3
82
VIII. Rubber Group
131
161
X. Glossary
170
14
© Continental AG
Fact Book 2015 | 15
II. Continental Strategy
Corporate Strategy at a Glance
Urbanization
Digitalization
Great people culture
Value creation
Technological balance
Regional sales balance
Value creation
is our driving force
Balanced customer portfolio
Top market position
In the marktet for the market
Automated Driving
Electrification
15
II. Continental Strategy – Value Creation
Sustainable Value Creation
21.6%
20.6% 20.8%
19.4% 19.4%
16,915
16,804
16,625
16,522
16,536
16,727
17,510
18,198
18,910
19,681
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
2013
2014
1
trailing OA (mn €)
1
2
19.5%
17,008
19.3%
20.9%
17,014
18.5% 18.6%
20.0%
20.3%
2015
trailing ROCE
2
Trailing operating assets are calculated as assets for the last twelve months (LTM).
Trailing ROCE is calculated as reported EBIT for the last twelve months (LTM) divided by trailing operating assets.
16
© Continental AG
Fact Book 2015 | 16
II. Continental Strategy – Value Creation
Cost Consciousness – Production in Best-Cost Countries1
Europe
70%
39%
37%
35%
24%
Chassis & Safety2
Powertrain2
63%
Chassis & Safety2
34%
Interior2
96%
68%
43%
39%
26%
Rest of world
71%
75%
Tires3
97%
61%
54%
Powertrain2
ContiTech2
Interior2
2012
52%
Tires3
60%
52%
ContiTech2
2015
1
All years restated based on new definition of best-cost countries.
Based on sales.
3
Based on units.
17
2
II. Continental Strategy – Regional Sales Balance
Balanced Distribution of Sales
2015
Target
(medium and long term)
Europe
and other countries
51%
20%
29%
Asia
The Americas
≥ 30%
Europe
≤ 45% and other countries
≥ 25%
18
© Continental AG
Fact Book 2015 | 17
II. Continental Strategy – Top Market Position
Top Position for the 20 Fastest Growing Automotive Technologies through 2020
Examples of technologies
A High growth
CAGR1
Gasoline particulate filters
Switchable coolant and oil pumps
Lane departure warning
B Medium growth
High growth
25% - 100%
Turbo chargers
Start-stop systems
Battery propulsion systems
Medium growth
15% - 24%
C Low growth
Low growth
5% - 14%
Electric power steering
Touch screens
Adaptive cruise control
1Compound annual growth rate (CAGR).
Source: Frost & Sullivan, November 2013 based on 2012 data – forecast of growth rates up to 2020.
19
II. Continental Strategy – In the Market for the Market
Continental Corporation Worldwide
20
© Continental AG
Fact Book 2015 | 18
II. Continental Strategy – Balanced Customer Portfolio
Sales OE Automotive/Non-OE Automotive
2015
Target 2020
28%
72%
Other sectors and end customers
Original equipment manufacturers (OEM)
40%
60%
2015: Sales OE Automotive/Non-OE Automotive by Division
Chassis & Safety
100%
Powertrain
99%
Interior
Tires
ContiTech
91%
29%
50%
OE
Non-OE
21
II. Continental Strategy – Technological Balance
Technological Balance
Introduction
Growth
Maturity
Saturation
Compound annual growth rate
≥ 5 - 10%
0 - 10%
≤ 0%
Technology life cycle
Time
Technology portfolio share of sales in %
22
© Continental AG
Fact Book 2015 | 19
II. Continental Strategy – Great People Culture
The Same Values Worldwide for a Shared Corporate Culture
23
Topics
I.
II.
15
25
47
60
VI. Market Data
69
3
82
VIII. Rubber Group
131
161
X. Glossary
170
24
© Continental AG
Fact Book 2015 | 20
We Shape the Megatrends in the Automobile Industry
Environment – For Clean Power
Information – For Intelligent Driving
Safety – For Safe Mobility
Affordable Cars – For Global Mobility
25
III. Automobile Megatrend: Environment
Initiatives in EU, USA and Japan – Towards Lower CO2 Emissions
EU1
EU aims to reduce CO2 emissions by
improvements in vehicle technology:
› Average CO2 emission target for new
passenger car registrations:
› 130 g/km* from 2015
› 95 g/km from 20202
› Average CO2 emission target for new
light commercial vehicle registrations:
› 175 g/km from 2017
› 147 g/km from 2020
USA3,4
NHTSA5 and EPA6 to establish a National
Fuel Efficiency Policy (NFEP):
› For passenger cars and light trucks
combined, CAFE7 targets to improve
overall fleet average to:
› 35.5 mpg* by 2016
› 54.5 mpg by 2025
› For passenger cars and light duty trucks
(GVW<3.5 t), the aim is to increase
average fuel efficiency to:
› 16.8 km/l* by 2015
› 20.3 km/l* by 2020
› For non compliance with CAFE7 targets
penalties are defined
› For medium / heavy-duty vehicles
(GVW>3.5t), the aim is to increase average
fuel efficiency to:
› Trucks 7.09 km/l by 2015
› Buses 6.30 km/l by 2015
› Excess emissions premium for non
compliance with fleet targets is defined
Test cycle: NEDC (New European Driving Cycle)
* Gram per kilometer
Japan8
ECCJ9 aims to improve fuel efficiency
standards by 23.5% 2015 vs. 2004:
Test cycle: Federal test procedure/Highway Fuel
Economy Test)
Test cycle: JC08 (Japanese Cycle)
* Kilometers per liter
* Miles per gallon
Emerging Markets likely to Follow Europe/USA/Japan on Fuel Efficiency Standards
1
Regulations (EC) No. 443/2009 and (EU) No. 510/2011.
2020: 95% of fleet; 2021: 100% of fleet.
US Federal Register (May 7th, 2010): Light-Duty Vehicle Greenhouse “Gas Emission” Standards and Corporate Average Fuel Economy Standards; Final Rule.
4
US Federal Register (Oct. 15th, 2012): 2017 and Later Model Year Light-Duty Vehicle Greenhouse Gas Emissions and Corporate Average Fuel Economy Standards; Final Rule.
5
NHTSA: National Highway Traffic Safety Administration.
6
EPA: Environmental Protection Agency.
7
CAFE: Corporate Average Fuel Economy.
8
Refers to “Act on the Rational Use of Energy” of the Ministry of Economics, Trade and Industry (METI), Ministry of Land, Infrastructure, Transport and Tourism (MLIT).
9
ECCJ: Energy Conservation Center Japan.
26
2
3
© Continental AG
Fact Book 2015 | 21
Initiatives for Cleaner Mobility in Various Markets
Gram CO2 per kilometer, normalized to NEDC1
270
Solid dots and lines: historical performance and enacted targets.
Solid dots and dashed lines: proposed targets and studies.
240
210
180
150
120
90
60
2000
2005
US-LDV 2
2010
2015
EU 3
US-Car
2020
China 4
Japan
2025
South Korea
Source: International Council on Clean Transportation (ICCT), as at February 2016.
Due to different test procedures (U.S. CAFE, NEDC, JC08 and WLTC) the ICCT updated the set of conversion factors.
1 New European Driving Cycle.
2
US light-duty vehicles include light commercial vehicles.
3
In 2020 mandatory for 95% of the OEMs’ fleets. As of 2021 mandatory for 100%.
4
China’s target reflects a gasoline fleet scenario. With other fuel types included, the target would be lower.
27
Today’s Vehicle Emissions vs. Future Targets
Emissions [g CO2/km]
230
210
190
2015
EU Target
170
150
2020/21
EU Target
130
110
90
70
50
30
800
1.000
1.200
GASOLINE
1.400
HYBRID
1.600
DIESEL
1.800
2.000
Natural gas drive
2.200
2.400
Weight [kg]
Source: DAT Group, https://www.dat.de/leitfaden/LeitfadenCO2.pdf, as of January 14, 2016.
28
© Continental AG
Fact Book 2015 | 22
Engine Development Roadmap
World – Combined View
[mio-units]
120
2%
1%
100
3%
1%
9%
80
10%
2%
21%
11%
2%
8%
14%
24%
3%
60
26%
4%
Hybrid
CNG/LPG
GDI (NA)
GDI (TC)
4%
50%
40
EV
30%
PFI (TC)
PFI (NA)
20%
Diesel
20
20%
17%
19%
0
2015
2020
2025
Source = IHS and Continental estimates.
EV = Electric Vehicle; Hybrid = Plug In Hybrid Electric Vehicle, 48 V and Full/Mild Hybrid Electric Vehicle;
CNG/LPG = Compressed Naturally Gas/Liquefied Petroleum Gas; GDI = Gasoline Direct Injection;
NA = Natural Aspirated; TC = Turbo Charged; PFI = Port Fuel Injection.
29
Reduction of CO2 Emissions1: Solutions by Continental
Full hybrid electric vehicle (FHEV)
20-25%
Compressed Natural Gas (CNG)
15-20%
Piezo common rail injection
10-20%
Mild hybrid electric vehicle (MHEV, 48V)
10-15%
Engine downsizing and turbocharger
~15%
Telematics, ACC, ADAS
2
5-12%
3
2-5%
Tires (rolling resistance, TPMS )
4
2-5%
6
1-5%
SCR systems/DDS
5
Energy management (POD /AES )
Connected energy management
Double clutch transmission (DCT)
5
Transmission (POD )
3-4%
3%
1-2%
min
max
1
Saving potential compared with gasoline direction injection Euro 5 / NEDC.
SCR = Selective Catalytic Reduction.
DDS = DEKA injector for diesel dosing into exhaust gas.
TPMS = Tire Pressure Monitoring System.
5
POD = Power-On-Demand.
6
AES = Advanced Energy Supply.
2
3
4
30
© Continental AG
Fact Book 2015 | 23
How to Reach the European CO2 Target of 75g/km
Areas of Improvements:
[g CO2/km]
130
Vehicle
127
Combustion/Transmission
Electrification
120
Eco Innovations / Super Credits
110
100
95
90
80
75
1
0
2013
1
2020
2025
Assumptions for CO2 target in the EU by 2025.
31
III. Automobile Megatrend: Information
Interior: Examples of Market-Specific Initiatives and Projects
Environment
Safety
Information
› Tire pressure monitoring
system (TPMS)1,2,3,4,5,6
› eCall7,9,10,11
› Electric vehicle market
push7,8
› Stolen vehicle tracking13
› Hands-free
› Digital tachograph (DTCO)15
telephony12
› Rear detection system14
› Electronic onboard recorder
(EOBR)16
› Intelligent transport
systems (ITS)7,8
Doing more.
Doing more.
Doing more.
For clean power.
For safe mobility.
For intelligent driving.
1
9
2
10
3
11
Regulation (EC) No. 661/2009 for Passenger Vehicles.
Federal Motor Vehicle Safety Standard No. 138 of NHTSA for passenger vehicles.
Source: Ministry of Land, Infrastructure, Transport and Tourism (MLIT) in Japan.
4
Korean Motor Vehicle Safety Standard (KMVSS) - MLTM Notification 2010-631.
5
House Bill for Commercial Vehicle Safety - H.R. 4348 29.06.2012 TPMS for
Motorcoaches.
6
DG CLIMA 2013 study on TPMS Cost / Benefit for Commercial Vehicles.
7
Directive 2010/40/EU of the European Parliament and of the Council of July 2010.
8
COM(2011) 144 final.
Russia ERA specifications - no final rule in place
European Commission Brussels, C(2012) 8509 final.
Recommendation adopted by the European Commission, September 2011.
12
Several national laws and regulations in Asia/ Europe/ NAFTA/ Africa.
13
CONTRAN 245/2007 - no final rule in place.
14
For single-unit trucks. FMVSS 111 - no final rule in place.
15
Proposed revision of Regulation (EEC) No. 3821/85.
16
FMCSA Proposed rule 395 January 2011 / President signed legislation
MAP21 in July 2012.
European Projects:
ELVIRE = Electric vehicle communication to infrastructure, road services and energy supply.
ID4EV = Intelligent dynamics for fully electric vehicles.
HeERO = Harmonized eCall European pilot.
ERTICO = European road transport telematics implementation coordination organisation.
Sim-TD = Safe and intelligent mobility – field test Germany.
32
© Continental AG
Fact Book 2015 | 24
Interior: Information Management – in the Vehicle and Beyond
Our intuitive and ergonomic human-machine
interface (HMI) captures commands, prioritizes
and presents information.
We add new functions by providing multiple connections
to the outside world as well as value-added services.
Driver & Passengers
Devices
Infrastructure
Other Vehicles
Vehicle
We manage and optimize the information
flow by systems integration of components.
Our Mission: Information management in the vehicle and beyond –
a key to realize “Clean Power” and “Zero Accidents”.
33
Interior: Product Highlights for Intelligent Mobility
We inform
you well
We
connect
All at
lower cost
Existing solutions:
Innovations:
› Freely programmable clusters
› Augmented-reality head-up displays
› Head-up displays
› Intelligent antenna modules
› Multimedia and telematics platforms
› Connected gateways
› Tachographs and fleet management systems
› Virtual keys, NFC
› Tire information systems
› eHorizon
› Electronic control units for LED lighting
› Services and apps for Intelligent Transportation Systems (ITS)
34
© Continental AG
Fact Book 2015 | 25
III. Automobile Megatrend: Safety
Market-Specific Initiatives – Towards Safer Mobility
EU
USA
› Electronic stability control (ESC)
› mandatory as of Nov. 2011 for all new types of
vehicles
› mandatory as of Nov. 2014 for all new vehicles1
› Tire pressure monitoring system (TPMS)
passenger cars
› mandatory as of Nov. 2014 for all new passenger
cars2
› Advanced emergency braking system
and lane departure warning
heavy commercial vehicles and buses
› mandatory as of Nov. 2015 for all new heavy
commercial vehicles and buses2
› Brake assist system
passenger cars
› mandatory as of Nov. 2011 for all new passenger
cars3
› Motorcycle anti-lock brake system (ABS)
› mandatory as of Jan. 2016 for all new types of
vehicles
› mandatory as of Jan. 2017 for all new vehicles4
› mandatory since 2011 for all new light
vehicles5
› mandatory as of Sept. 2007 for all new
light vehicles6
› Rear Visibility
› mandatory as of May 1, 2016 with a phase
in schedule for all vehicles and low-speed
vehicles with a with a gross vehicle weight
rating (GVWR) of 10,000 pounds or less12
› mandatory as of Oct. 2012 for all new
types of passenger cars
› mandatory as of Oct. 2014 for all new
passenger cars9
› Advanced emergency braking system
and lane departure warning
› expected to be mandatory for all new
heavy commercial vehicles and buses
following the EU decision10
Japan
Russia
› Anti-lock brake system (ABS)
› mandatory as of Jan. 2014 for all new
passenger cars, after phase-in which
began in 20107
Brazil
types of light vehicles
› mandatory as of Jan. 2016 for all new light
vehicles8
types of light vehicles8
South Korea
› mandatory as of Jan. 2012 for all new light
vehicles11
passenger cars11
Other emerging markets likely to follow EU/USA on ESC regulation
1
Regulation (EC) No. 661/2009; refers to all vehicles of category M and N.
Commission Implementation Regulations for (EC) No. 661/2009: 347/2012 (Advanced Emergency Braking Systems); 351/2012 (Lane Departure Warning).
3
Regulation (EC) No. 78/2009; refers to passenger cars for maximum 8 passengers plus driver.
4
COM(2010) 542 from Oct. 2010. ABS mandatory for motorcycles with engine capacity of > 125 ccm. ABS or combined brake system (CBS) mandatory for engine capacity
of ≤125 ccm.
5
Federal Motor Vehicle Safety Standard (FMVSS) No. 126 of the National Highway Traffic Safety Administration (NHTSA); refers to vehicles with a gross vehicle weight of ≤4.536 t.
6
Federal Motor Vehicle Safety Standard (FMVSS) No. 138 of the National Highway Traffic Safety Administration (NHTSA); refers to vehicles with a gross vehicle weight of ≤4.536 t.
7
CONTRAN 312/2009.
8
Russia Decree 720/2009; refers to passenger cars, buses with a weight of ≤ 5 t and light trucks with a weight of ≤ 3.5 t.
9
Source: Ministry of Land, Infrastructure, Transport and Tourism (MLIT) in Japan.
10
Japan expected to adopt EU regulation. Final decision on timing pending.
11
G/TBT/N/KOR/286 and MLTM Notification 2010-631 (Ministry of Land, Transport and Maritime Affairs).
35
12 Federal Motor Vehicle Safety Standards; Rear Visibility; Final Rule; 49 CFR Part 571.
2
Road Traffic Deaths per 100,000 Inhabitants by Region1
Over
die
A further
million
people
Europe and Russia
in road accidents
every year
9.3
Eastern
Mediterranean
million
are injured.
17.3
15.9
26.6
Americas
Data Source:
World Health Organization.
Global Status Report on Road Safety 2015.
Road traffic fatality rates per 100.000 population by WHO region.
19.9
17.0
Western
Pacific
Africa
South East Asia
per 100.000 population
36
© Continental AG
Fact Book 2015 | 26
Global Development of Active Safety Regulations & Ratings
AEB
ESC
V2X Device
RVS
2016 (10%) 2018 (100%)
Light vehicles
RVS
FCW/LDWS
CIBS & DBS
Legislation
Consumer Test
AEB
Passenger vehicles
ESC
AEB & LDWS
Passenger vehicles
Commercial vehicles & buses
decided
AEB & LDWS
SAS & AEB
Pedestrian
RDP & AEB
Bicycle
NCAP star-rating
NCAP star-rating
AEB Intersection
NCAP star-rating
Legislation
Consumer Test
NCAP star-rating
AEB & LDWS
Expected by
Continental
ESC
Passenger
vehicles
2007
2008
2009
2010
2011
2012
2013
AEB &
LDWS
Commercial
vehicles & buses
2014
2015
NCAP
star-rating
2016
2017
2018
2019
2020
ESC = Electronic Stability Control; FCWS = Forward Collision Warning System; LDWS = Lane Departure Warning System; AEBS = Advanced Emergency Braking System; CIBS = Crash
Imminent Braking System; DBS = Dynamic Brake Support; RVS = Rearview Video System; SAS = Speed Assist System; RDP = Road Departure Protection.
NCAP = New Car Assessment Program; EC = European Commission; NHTSA = National Highway Traffic Safety Administration (USA); MLIT = Ministry of Land, Infrastructure, Transport
and Tourism (Japan); MLTM = Ministry of Land, Transport and Marine Affairs (South Korea); IIHS = Insurance Institute for Highway Safety.
37
Euro NCAP 5-Star Rating Requirements
Frontal ODB
Seat Belt Reminder
Frontal FW
ESC
Side Barrier
Speed Assist System
Side Pole
Adult
Occupant
Protection
Whiplash Front
Whiplash Rear
LDW / LKA
Safety
Assist
AEB Inter-Urban (23%)
AEB City (8%)
Headform
Upper Legform
Lower Legform
Pedestrian
Protection
AEB VRU (14%)
Child
Occupant
Protection
AEB: Autonomous Emergency Braking; NCAP: New Car Assessment Program; VRU: Vulnerable Road Users.
Source: NCAP, http://www.euroncap.com, as of January 26, 2016.
38
© Continental AG
Fact Book 2015 | 27
History and Roadmap for Accident-Free Driving
Construction Site Assist
2015 – 2016:
• ACC
longitudinal/lateral
• Traffic Jam Assistant
(highway)
Driver
• Lateral Collision
Distraction
Avoidance
• Emergency Steering
Assistant
AEB City
< 50 kph
Parking
Assist
AEB
Pedestrian
Autonomous Driving
Automated Parking
Highway
(highly automated)
City
Stop&Go
Construction Site
(highly automated)
Inter-Urban
AEB
> 60 kph
Highway Assist
Stop&Go, Cruising, up to 130km/h
Remote
parking
Partially Automated (2016) – Highly Automated (2020) – Fully Automated (> 2025)
2015
AEB = Automatic Emergency Brake.
ACC = Adaptive Cruise Control.
2020
> 2025
39
Future Automotive Trends
40
© Continental AG
Fact Book 2015 | 28
From Basic to Complex Scenarios; from Single to Networked Systems
!
1
= Continental´s Portfolio
1
!
= In Progress
41
Head-Up Display
World Market Forecast1 for Driver Assistance Systems
Continental Portfolio Covers all Areas
100
Continentalʼs
Portfolio
USD bn.
90
E&EA
3
80
HMI
70
Embedded Controls
60
50
40
Mapping
2018: Based on
Camera, Radar and
Lidar, Continental's
SOM2 would be ~25%
Cameras
4
30
V2X
20
Radar
10
0
2015
Lidar
2020
Goldman Sachs Report, Cars 2025: Vol. 3; Monetizing the rise of Autonomous Vehicles; September 17, 2015.
Share Of Market.
Electrical & Electronic Architecture.
4 Vehicle to everything communication.
2025
1
2
3
42
© Continental AG
Fact Book 2015 | 29
Winter Tire Regulations1
Europe: Winter Tires Mandatory or Situationally Mandatory
Austria
November 1 to April 15 when
winter weather conditions prevail
Russia
November 1 to April 1
December 1 to end of February
Bosnia and Herzegovina
Bulgaria
December 1 to 28 February
Iceland
November 15 to April 15 when
Serbia
Latvia
Mandatory when winter
weather conditions prevail
November 15 to March 31 when
roads are snowy/icy
Lithuania
Slovakia
weather conditions prevail
November 1 to March 31
Luxembourg
Czech Republic
Macedonia
Estonia
Finland
Norway
Mandatory when winter weather
conditions prevail
Slovenia
December 1 to March 31 when
Sweden
weather conditions prevail;
November 15 to March 31 for trucks
December 1 to April 1 for
commercially used vehicles
Turkey
Germany
Romania
Ukraine
Europe: Winter Tires Partly Mandatory
Drivers may be held liable, if they cause an accident with
summer tires mounted when winter weather conditions prevail
Mandatory on certain roads, marked with signs
France
Italy
Spain
Switzerland
Canada: Winter Tires Partly Mandatory
Canada
Mandatory in Québec December 15 to March 15;
mandatory on certain roads in the mountains of Canada when winter weather conditions prevail
The snowflake symbol: A tire can be marked with this symbol (in addition to the M+S2 marking), if its braking or
traction performance on snow exceeds that of a standard reference tire by a certain margin.
1
2
Source: Continental AG and websites of country ministries, automobile associations and ETRMA (European Tyre and Rubber Manufacturers' Association).
Mud + snow. The M+S marking is given by the manufacturer and is not linked to a performance definition.
43
III. Automobile Megatrend: Safety and Environment
Tire Labeling Initiatives in Europe, USA, Japan, South Korea and Brazil
EU1
USA2
Japan3
Label proposed by NHTSA3
›
Mandatory since
November 2012
Applies to all tires sold.
Information to be shown:
rolling resistance
(fuel efficiency),
wet grip
(braking performance on
wet roads) and
noise performance
(external rolling noise).
Either directly on the tire
by means of a label or in
some other way
Self-certification policy
EU member states are
responsible for market
surveillance
›
›
›
›
1
›
›
›
Final decision pending
The NHTSA Tire Fuel
Efficiency Consumer
Information Program
proposes to inform
consumers about the
effect of tires on fuel
efficiency, safety,
and durability
The program aims to
implement a national
tire fuel efficiency
rating system for
replacement tires, with
the information
provided to consumers
at the point of sale and
online
South Korea4
›
›
›
›
›
Regulation (EC) No.1222/2009 of the European Parliament and of the
Council and Commission Regulations (EU) No. 228/2011 and (EU)
No.1235/2011. Also implemented in Norway, Switzerland , Turkey,
Israel.
Voluntary since 2010
Introduced by JATMA4
Applies to replacement
summer tires for
passenger cars;
includes information on
rolling resistance and
wet grip performance
Tires with a grading of A
and above for rolling
resistance performance
are defined as “fuel
efficient tires” and are
marked with an
additional symbol (the
lower of the symbols
above)
›
›
›
›
Mandatory since
November 2012
Introduced by MKE5
Applies to all tires sold in
South Korea (OE and
replacement) for
passenger cars and light
trucks; includes
information on rolling
resistance and wet grip
performance
The label has to be
attached to the tread of
each tire; for OE tires the
information has to be
provided in the car
manual
Registration of all
products required
Brazil5
›
›
›
›
›
Available as of April 2015
Mandatory as of
October 2016
Introduced by INMETRO6
Applies to all tires sold
(with certain exceptions).
Includes information on
rolling resistance, wet
grip and noise
performance
Certification to be carried
out by a product
certification body
accredited by INMETRO
2
Source: National Highway Traffic Safety Administration (NHTSA).
Source: Japan Automobile Tyre Manufacturers Association (JATMA).
Source: South Korean Ministry of Knowledge Economy (MKE).
5
Source: National Institute of Metrology, Quality and Technology (INMETRO).
3
4
44
© Continental AG
Fact Book 2015 | 30
III. Automobile Megatrend: Safety and Environment
Tire Labeling Initiatives in Gulf Countries and China
SASO1
›
›
›
›
Mandatory since
November 2015 (truck
tires as of Nov 2016).
Applies to all replacement
tires.
rolling resistance (fuel
efficiency) and wet grip
wet roads).
Directly on the tire by
means of a label.
Registration of all products
required
GSO2
›
›
›
›
Mandatory since January
2016 (light truck and truck
tires as of Jan 2017).
Applies to all replacement
tires
rolling resistance (fuel
efficiency) and wet grip
wet roads).
Directly on the tire by
means of a label.
Registration of all products
required
China
›
›
›
›
Voluntary as of 2017
Introduced by CRIA3
Applies to all
replacement tires for
passenger cars
Information to be
shown: rolling
resistance (fuel
efficiency), wet grip
(braking performance
on wet roads) and
noise performance
(external rolling noise).
Source:
1
Saudi Standards, Metrology and Quality Organization Standard 2857/2015.
2
Standardization Organization of the Gulf Cooperation Council Countries.
3
Chinese Rubber Industry Association (CRIA).
45
Topics
I.
II.
15
25
47
60
VI. Market Data
69
3
82
VIII. Rubber Group
131
161
X. Glossary
170
46
© Continental AG
Fact Book 2015 | 31
Our Policies and Guidelines
Principles of Our Corporate Social Responsibility
Environmental Responsibility
Social Responsibility
Corporate Governance
ESH1 Policy – implements
worldwide the responsibility
for protecting the
environment
Code of Conduct –
standards for ethics, rules to
avoid conflicts of interest
Corporate Governance
Policy – to further a
responsible management of
the company focused on
value creation
OUR BASICS – the
guidelines, codex and basic
principles of our business
activities
Risk Report – overview of
our Risk Management
OUR BASICS Our Corporate Guidelines
1
47
“Environment”, “Security, Safety” and “Health”.
IV. Environmental Responsibility
Corporate Environmental Key Performance Indicators
Energy consumption1
CO2 Emissions1,3
2,789
2,748
1,857
659
759
2013
1,974
662
771
2014
2,089
727
722
2015
613
2020 2
Scope 1 - direct CO₂ emissions in 1,000t
Scope 2 - indirect CO₂ emissions from external power stations in 1,000t
Specific CO₂ emissions (100kg/Mio € adjusted sales)
2
3
1,704
816
769
669
2013
2014
2015
2020
10,000 GJ
2
Specific energy consumption (GJ/Mio € adjusted sales)
480
437
394
2013
2014
2015
2020
84 84
2
Specific water consumption (m³/Mio € adjusted sales)
Changes to previous figures are due to changed in the data collection.
Continental targets.
Independently verified by KPMG.
297
291
280
487
10,000 m³
1
1,642
829
Waste production1
Water consumption1
1,616
2,998
2013
85 85
2014
76 84
2015
68
90
2020
2
Waste generation (1,000 t)
Specific waste generation (100kg/Mio € adjusted sales)
Waste recovery (%)
48
© Continental AG
Fact Book 2015 | 32
Emission Reduction - Electrification Tailored to Fit (48-Volt Eco Drive)
49
Emission Reduction – Electrification Tailored to Fit
2
5
50
90kW
50- –
90
100%
100
EMR3 with Integrated
Inverter
50
90kW
50- –
90
50
50--75%
75
EPF 2.8 / EPF Gen. 4
 Single and Dual
Inverter Technology
20- 40kW
– 40
20
20- -30%
30
20
EPF 2.8 / EPF Gen. 4
 Single and Dual
Inverter Technology
48V
66- –
20kW
20
10
10--20%
20
Air cooled: < 10kW
Water cooled: >10kW
12V
< 5kW
<5
<<10%
10
Advanced engine
Stop/Start @ low cost
EV
PHEV
HEV
4
3
6
E-Motor
Power
A
B
C
D
E
CO2 Saving
Potential1
Vehicle Segments
1
Saving Potential Tank-to-Wheel in New European Driving Circle.
Electric Vehicle.
3 Plug-in-Hybrid Electric Vehicle.
4 Hybrid Electric Vehicle.
5 Electric Machine Reducer.
6 Electronics Platform Fluid.
2
50
© Continental AG
Fact Book 2015 | 33
Research in Alternative Raw Materials for Tire Production
›
Development project in collaboration with the Fraunhofer Institute to cultivate a
Russian dandelion variety with latex sap rich in natural rubber. This natural rubber
has at least the same quality and performance characteristics as conventional
rubber from rubber trees.
›
Benefits:
› Reduction in dependency on harvest situation in subtropical regions
› Lower requirements on the fertility of the soil
› Lower environmental impact due to reduced logistic requirements
›
Joint development project with the Fraunhofer Institute awarded Europe's most
important environmental and economic prize in the category "Automobility”.
›
Taraxagum brand established for dandelion rubber. Serial production expected
within 10 years.
51
IV. Social Responsibility – Responsible Employer
Equal Opportunity
Workforce Diversity
The Continental team is made up of people with different
backgrounds, cultures, religions, genders and ages. The
diversity of different mindsets and points of views, skills and
experiences makes us strong.
To promote diversity within the company, we focus on two
key areas:
› A balanced mix of men and women
› Internationality
Demographics Program
A comprehensive concept designed to address the farreaching changes as a result of the expected demographic
trend focuses on four topics:
›
›
›
›
Workplace design
Health maintenance for longer employment
Targeted qualification measures
Motivation for a longer working life
Award of the Apriori-business solution AG for the
Continental “Demography-Management”
52
© Continental AG
Fact Book 2015 | 34
IV. Social Responsibility – Social Commitment
UERÈ Project in Rio de Janeiro, Brazil
› Since 2012 Continental has committed itself to the
UERÈ education project for children and young people
aged 4 to 18 from the slum district (known as ‘Favelas’)
of Baixa do Sapateiro in Rio de Janeiro.
› It is funding an e-learning module to raise the profile of
the UERÈ de Mello method and also providing teaching
staff and equipment for a children’s football project.
› UERÈ founder and principal Yvonne Bezerra de Mello
explains the UERÈ de Mello method in her own words:
“We tailored our concept quite specifically to the abilities
and needs of our children. For example, we almost
exclusively offer interactive learning modules with a
duration of 20 minutes so that children who suffer from
learning blocks as the result of some lasting trauma can
also take in the content. We help all UERÈ children to
become responsible citizens and our aim is to give them
prospects so that they can lead worthwhile lives”.
› The Brazilian Government has awarded Bezerra de Mello
the “Medaille Tiradentes” in June 2013 for her great
achievements with this project.
53
IV. Social Responsibility
› Continental is a participant of the United Nations
Global Compact. We have thus committed ourselves
to its ten principles in the areas of human rights, labor,
environment and anti-corruption.
› The Charter of Diversity recognizes diversity as an
opportunity. The signatory companies commit to
diversity, fairness and mutual respect. The aim is to
create a working environment that is free of prejudice
and discrimination.
› The Luxembourg Declaration on Workplace Health
Promotion (WHP) promotes health and occupational
safety in the companies of the member states of
ENWHP1. The declaration encourages members to
attach greater importance to WHP.
Source:
www.charta-der-vielfalt.de (German Federal Government Commissioner for Migration,
Refugees and Integration); www.luxemburger-deklaration.de; www.globalcompact.de.
1
European Network for Workplace Health Promotion.
54
© Continental AG
Fact Book 2015 | 35
› The World Business Council for Sustainable
Development (WBCSD), founded in 1995, is a
frontrunner and catalyst on the path to
sustainable development.
› The European Road Safety Charter is an
appeal and impetus for all groups in society to
make a concrete contribution to improving
traffic safety in Europe. The goal is to reduce
the number of fatalities on the roads of the
European Union (EU) by 2020.
› Continental has endorsed the "Women's
Empowerment Principles" since March 2015.
The seven principles offer guidance to business
on how to empower women in the workplace,
marketplace and community.
Source: http://www.wbcsd.org; http://www.erscharter.eu; http://www.weprinciples.org.
55
Ratings and Indices
› ECPI has been a leading rating and index company
dedicated to ESG Research since 1997. Continental
is a constituent of the ECPI Ethical EMU Equity1 as
one of the Global Equity Indices.
› Since June 2013 Continental has been rated ‘Prime’
by oekom research. Based on the oekom ratings,
more than €500 bn is invested by sustainabilityoriented investors worldwide.
› The Carbon Disclosure Project (CDP) is a non-profit
organization that aims to create more transparency
regarding environmentally damaging emissions.
Continental has been answering CDP’s extensive
questionnaire since 2009. In 2012, we were included in
the Carbon Disclosure Leadership Index and in 2015
we achieved 94 out of 100 points.
› Sustainalytics is an independent ESG research and
analysis firm supporting investors around the world with
the development and implementation of responsible
investment strategies.
Continental is listed both in STOXX® Global ESG
Leaders and STOXX® Europe ESG Leaders.
1
150 top capitalized companies in the European Economic and Monetary Union market which are eligible investments.
56
© Continental AG
Fact Book 2015 | 36
Health and Occupational Safety
Our specialist department HISS (“Health, Industrial
Hygiene, Safety & Security”) sets protection
standards, which apply across the entire
Corporation.
Standards are the foundation for safety at work,
secure production plants and processes, and reflect
our responsibility to our employees
and to the environment.
Hours lost due to accidents2
800
Absences due to sickness1
3,0
3,1
3,0
729
20
638
700
18
574
600
16
486
472
500
498
12
10
400
300
8
4,6
4,2
200
3,6
100
3,3
3,0
3,1
Accident rate3
1
2014
Paid and unpaid absences due to sickness in relation to
the contractual working hours in percent (for the corporation).
2
3
4
0
2010
2015
6
2
0
2013
14
2011
2012
2013
2014
2015
Number of accident-related hours lost worldwide
per million hours worked.
Number of work-related accidents worldwide with one or more days lost per
million hours worked.
57
IV. Corporate Governance
Corporate Bodies
Annual Shareholders’ Meeting (ASM)
Shareholders exercise their voting rights (1 share = 1 vote)
election / ratification
taking into account
resolutions of ASM
reporting
ratification
Supervisory Board
Executive Board
Chairman’s Committee
& Mediation Committee
Chairman of the
Supervisory Board
Chairman of the
Executive Board
Audit Committee
Approval of certain management decisions
of material importance to the company
Nomination Committee
20 members in accordance with the Mitbestimmungsgesetz (German Co-determination Act):
10 elected by ASM
10 elected by employees of Continental AG and its
subsidiaries who are employed in Germany
Solely responsible for the management
of the company
9 members
appoints, supervises, advises
reporting
Corporate Governance is the responsibility of the company’s corporate bodies. Continental AG’s Corporate Governance
Principles are closely modeled on the recommendations and suggestions of the German Corporate Governance Code.
58
© Continental AG
Fact Book 2015 | 37
Topics
I.
II.
3
15
25
47
60
VI. Market Data
69
82
VIII. Rubber Group
131
161
X. Glossary
170
59
Key Consolidated Figures
(in mn €)
Sales
EBITDA
in % of sales
EBIT
in % of sales
2013
39,232.0
5,095.0
5,133.8
6,001.4
15.3
14.9
15.3
3,263.7
3,344.8
4,115.6
9.8
9.7
10,5
3,865.9
4,455.5
11.2
11.8
16,804.0
16,726.5
19,680.7
19.4
20.0
20.9
1,878.4
2,137.7
2,449.6
in % of sales1
ROCE
R, D & E expenses
in % of sales
Capex2
in % of sales
Depreciation & amortization3
in % of sales
thereof impairment4
1
2
3
4
2015
34,505.7
EBIT adjusted1
Operating assets (average)
2014
33,331.0
5.6
6.2
6.2
1,981.1
2,045.4
2,178.8
5.9
5.9
5.6
1,831.3
1,789.0
1,885.8
5.5
5.2
4.8
126.7
178.9
93.6
EBIT before amortization of intangible assets from PPA, consolidation and special effects; sales before changes in the scope of consolidation.
Capital expenditure on property, plant and equipment, and software.
Excluding impairment on financial investments.
Impairment also includes necessary reversals of impairment losses.
60
© Continental AG
Fact Book 2015 | 38
Sales and Adjusted EBIT1 by Quarter
FY Sales €33,331 mn
Adj. EBIT1 €3,866 mn
Adj. EBIT1 €4,456 mn
10,030
8,541
8,033
8,528 8,670
8,350 8,407 8,390
955
1,004
8,918
1,250
1,054
965
10,016
9,618
9,569
1,076 1,076
942
Q1/13 Q2/13 Q3/13 Q4/13 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15
Sales (mn €)
1
Adj. EBIT 1 (mn €)
61
Key Historical Financials and Credit Metrics – IAS 19 (rev. 2011) applied6
1
(mn €)
Cash flow statement
2
Adjusted EBITDA
Reported EBITDA
Net cash interest paid
Tax paid
3
Change in net working capital
4
Other
Cash flow arising from operating activities
Cash flow arising from investing activities
- thereof capex in PPE and intangibles
Cash flow before financing activities
Balance sheet
Cash and cash equivalents
Derivative instruments and interest-bearing investments
Total indebtedness
Net indebtedness
Credit ratios
2
Net indebtedness / adj. EBITDA
5
Net cash interest paid coverage (Ratio)
2010
2011
2012
2013
2014
2015
3,662
3,588
-703
-493
-497
-46
1,849
-1,282
-1,324
567
4,247
4,228
-662
-466
-556
-256
2,289
-1,798
-1,813
491
4,822
4,967
-575
-684
564
-488
3,785
-2,132
-2,081
1,653
5,094
5,095
-534
-805
-4
-30
3,722
-1,904
-2,024
1,818
5,318
5,134
-158
-775
-207
175
4,168
-2,153
-2,110
2,015
6,094
6,001
-174
-1,015
-107
210
4,916
-3,472
-2,265
1,444
1,471
202
8,991
7,317
1,541
249
8,562
6,772
2,397
536
8,253
5,320
2,045
303
6,638
4,289
3,244
364
6,432
2,824
1,622
81
5,245
3,542
2.0x
5.2x
1.6x
6.4x
1.1x
8.4x
0.8x
9.5x
0.5x
33.7x
0.6x
35.1x
1 Amounts
shown may contain rounding differences.
Adjusted EBITDA starting 2010 as defined in syndicated loan but IAS 19 (rev. 2011) not applied in 2012.
changes in inventories, trade accounts receivable, trade accounts payable and discounted notes.
Includes dividends received, income from at-equity accounted and other investments incl. impairments, gains and losses from disposals, other
non-cash items as well as changes in pension and similar obligations and in other assets and liabilities.
5 Adj. EBITDA to net cash interest paid.
6 Since 2012.
2
3 Includes
4
62
© Continental AG
Fact Book 2015 | 39
Net Indebtedness and Gearing Ratio
Net indebtedness (mn €)
219%
190%
Gearing ratio applying IAS 19 (rev. 2011)
Gearing ratio
118%
90%
65%
46%
26%
8,896
7,317
6,772
5,320
4,289
2,824
3,542
27%
10,484
58%
YE
YE
YE
YE
YE
YE
YE
YE
2008
2009
2010
2011
2012
2013
2014
2015
63
Gross Indebtedness by Source
FY 2009
FY 2015
Gross indebtedness: €10,713 mn
Gross indebtedness: €5,245 mn
(thereof 86% in syndicated loan)
(thereof 12%1 in syndicated loan)
Various other
bank lines
900
Syndicated
loan
(Tranche D
Revolver)
Aug. 2012
696
Other
indebtness
616
Syndicated
loan
(Tranche B)
Aug. 2010
3,500
Syndicated loan
Revolving
Credit Facility
Apr. 2020
Term loan
298
Apr. 2016
350
Bond
Mar. 2017
(2.5%)
750
Various other
bank lines
1,078
Bond
Jul. 2018
(3.0%)
750
Bond
Aug. 2025
(3.9%)
50
Syndicated
loan
(Tranche C)
Aug. 2012
5,000
1
Other
indebtedness
719
Bond
Sept. 2020
(3.125%)
750
Bonds
Various other bank lines
Bond
Feb. 2019
(0.5%)
500
Other indebtedness
Percentages are calculated as share of gross indebtedness; bond values and the values for the syndicated loan are nominal values, all others book values.
64
© Continental AG
Fact Book 2015 | 40
Maturities for Syndicated Loan and Bonds1 (€ mn)
As at December 31, 2015
(€ mn)
FY 14
FY 15
Gross indebtedness
6,432
5,245
Cash
3,244
1,622
Net indebtedness
2,824
3,542
Available credit lines
4,032
3,612
Total liquidity
7,276
5,233
298
750
750
2017
2018
350
2016
Syndicated loan2
1
2
750
500
2019
2020
Bonds
All amounts shown are nominal values.
Any utilization under the Revolving Credit Facility (RCF) has to be shown as short term debt acc. to IFRS although the RCF matures in 2020. It has a total volume of €3,000 mn.
65
Purchasing – Production Materials 2015
Natural
Rubber
4%
Purchasing Contracts
4
› Continental has a wide range of sources
Others
14%
Oil Based
Chemicals1
14%
for production materials worldwide.
› A specific strategy for each production
material group is set up and the
appropriate supplier panel is selected.
This way we ensure the competitiveness
and availability of the materials.
Total production material
purchased in 2015:
€17.4 bn
› For some materials, like certain oil based
chemicals or natural rubber, prices might
have a long lead time until they become
fully reflected in the cost of our final
products.
Electronics
24%
Mechanical
components 3
25%
Electromechanical
components
19%
2
1
E.g. synthetic rubber, carbon black.
E.g. printed circuit boards, connectors, motors.
E.g. stamped parts, turn parts, castings.
4
E.g. textiles, plastics.
2
3
66
© Continental AG
Fact Book 2015 | 41
Raw Material Prices
350%
based on January 1, 2008
300%
250%
200%
150%
100%
50%
0%
2008
2009
2010
Natural Rubber TSR 20
2011
2012
Natural Rubber RSS3
Styrene
2013
2014
Crude oil
2015
Butadiene
Sources:
Natural Rubber: Rolling one-month contracts from the Singapore Exchange (U.S. $ cents per kg).
Crude oil: Europe Brent Forties Oseberg Ekofisk price from Bloomberg (U.S. $ per barrel).
Butadiene, Styrene: South Korea export price (FOB) from PolymerUpdate.com (U.S. $ per metric ton).
67
Topics
I.
II.
15
25
47
60
VI. Market Data
69
3
82
VIII. Rubber Group
131
161
X. Glossary
170
68
© Continental AG
Fact Book 2015 | 42
VI. Market Data
Installation Rates of Electronic Brake Systems
100%
Europe
North America
Japan
China
80%
60%
40%
20%
0%
100%
80%
60%
40%
20%
0%
2013
2014
2015
2016
2017
2018
2019
ESC
2020
2013
ABS/TCS
2014
2015
2016
2017
2018
2019
2020
Total EBS
69
Source: Market Data and Continental estimates.
VI. Market Data
Installation Rates of Fuel Injection Systems1
100%
Europe
North America
Japan
China
80%
60%
40%
20%
0%
100%
80%
60%
40%
20%
0%
2013
2014
2015
2016
2017
2018
Gasoline direct injection
2019
2020
2013
2014
Gasoline port fuel injection
1 Based on production of diesel and gasoline engines for passenger cars & light vehicles.
2015
2016
2017
2018
2019
2020
Diesel injection
70
© Continental AG
Fact Book 2015 | 43
VI. Market Data
Development of Transmissions Technologies1
100%
Europe
North America
Japan
China
80%
60%
40%
20%
0%
100%
80%
60%
40%
20%
0%
2013
2014
2015
2016
2017
2018
2019
2020
2013
2014
2015
2016
2017
2018
2019
Automated manual transmission
Automatic transmission
Double clutch transmission
Continuous variable transmission
Manual transmission
Electric variable transmission
1
2020
Based on production of transmissions for passenger cars and light vehicles.
71
VI. Market Data
Installation Rates of Turbochargers in Gasoline Engines
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2013
2014
2015
Europe
Source: IHS 01/2016.
2016
North/Central America
2017
2018
Asia excl. China
2019
2020
China
72
© Continental AG
Fact Book 2015 | 44
VI. Market Data
Installation Rates of Keyless Entry Systems
100%
Europe
North America
Japan
China
80%
60%
40%
20%
0%
100%
80%
60%
40%
20%
0%
2013
2014
2015
2016
2017
2018
2019
2020
2013
Passive Entry/Start
2014
2015
2016
2017
2018
2019
2020
Remote Keyless Entry
73
Source: Strategy Analytics and Continental estimates.
VI. Market Data
Installation Rates of Multimedia Systems1
100%
Europe
North America
Japan
China
80%
60%
40%
20%
0%
100%
80%
60%
40%
20%
0%
2013
2014
2015
2016
2017
2018
2019
2020
Audio
2013
2014
2015
2016
2017
2018
2019
2020
Navigation
1
“Audio” refers to stand-alone radios, “Navigation” only to embedded navigation in the car, not connected navigation where e.g. a smartphone
delivers navigation calculation and the screen of the car is used as a display.
74
© Continental AG
Fact Book 2015 | 45
VI. Market Data
Sensors per car of Advanced Driver Assistance Systems1
3,50
Sensors per car
3,00
2,50
2,00
1,50
1,00
0,50
0,00
2013
2014
2015
Europe
2016
NAFTA
Asia
2017
2018
Rest of world
2019
2020
Worldwide
Market Definition: Average amount of ADAS including sensing rear/surround view cameras but w/o parking assist functions based on ultrasonic sensors.
Example:
2015 worldwide – Total number of produced cars: 92.5 mn
Average sensors per car: 0.84
92.5 mn*0.84 = 777 mn sensors.
75
1
VI. Market Data
Rising Volumes of Head-Up Displays
(in million units)
2,50
2,00
1,50
1,00
0,50
0,00
2013
2014
2015
Europe
2016
North America
2017
2018
Japan
2019
2020
China
76
© Continental AG
Fact Book 2015 | 46
VI. Market Data
Production of Passenger Cars and Light Commercial Vehicles (<6t)
(in millions of units)
2013
2014
2015
2016E
Europe1
19.2
19.9
20.7
21.1
NAFTA
16.2
17.0
17.5
17.5
4.5
3.8
3.0
2.9
44.0
45.8
46.4
47.5
0.8
0.9
1.0
1.0
84.7
87.4
88.6
89.9
South America
Asia2
Other markets
Total
Source: IHS and Continental estimates.
1
West, Central and East incl. Russia and Turkey.
2
Asia including Kazakhstan, Uzbekistan, Middle East and Oceania with Australia.
77
VI. Market Data
Production of Medium and Heavy Commercial Vehicles (>6t)
(in thousand units)
2013
2014
2015
2016E
1
Europe
574
541
569
590
NAFTA
464
546
585
528
South America
246
184
101
98
1,904
1,849
1,575
1,600
0
0
0
0
3,188
3,120
2,830
2,816
Asia2
Other markets
Total
Source: IHS and Continental estimates.
2
1
78
© Continental AG
Fact Book 2015 | 47
VI. Market Data
Replacement Tires – Passenger Cars and Light Commercial Vehicles (<6t)
2013
2014
2015
2016E
Europe
313
324
324
329
NAFTA
264
276
278
283
63
64
64
62
376
387
415
436
39
41
42
41
1,055
1,102
1,123
1,151
South America
Asia
Other markets
Total
Source: LMC World Tyre Forecast Service and Continental estimates.
79
VI. Market Data
Replacement Tires – Medium and Heavy Commercial Vehicles (>6t)
2013
2014
2015
2016E
Europe
22.7
23.5
23.5
24.2
NAFTA
20.0
22.0
22.8
23.2
South America
13.7
14.0
13.2
12.7
Asia
83.4
84.8
85.0
87.0
6.3
6.9
7.3
7.3
146.2
151.4
151.8
154.4
Other markets
Total
Source: LMC World Tyre Forecast Service and Continental estimates.
80
© Continental AG
Fact Book 2015 | 48
Topics
I.
II.
3
15
25
47
60
VI. Market Data
69
82
VIII. Rubber Group
131
161
X. Glossary
170
81
Key Figures
(in € millions)
Sales
EBITDA
in % of sales
EBIT
in % of sales
2013
23,574.5
2,490.5
2,407.7
2,973.2
12.4
11.5
12.6
1,158.9
1,189.3
2,014.4
5.8
5.7
8.5
1,679.3
2,066.1
8.0
8.8
10,958.9
10,504.0
11,237.5
10.6
11.3
17.9
1,589.1
1,835.5
2,097.2
in % of sales1
ROCE
R, D & E expenses
in % of sales
Capex2
in % of sales
in % of sales
thereof impairment4
2015
20,909.2
EBIT adjusted1
2014
20,016.1
7.9
8.8
8.9
1,015.5
1,125.7
1,274.7
5.1
5.4
5.4
1,331.6
1,218.4
958.8
6.7
5.8
4.1
127.8
178.9
0.7
1
4
2
3
82
© Continental AG
Fact Book 2015 | 49
Sales and Adjusted EBIT1 by Division
Automotive Group Sales (mn €) FY 2015
23,575
8,155
8.3%
Automotive Group Adj. EBIT1 (mn €) FY 2015
- 99
5.1%
8.8%
cons.
Automotive
Group
425
0.3%
6.1%
817
9.7%
1
Adj. EBIT margin (%)
Organic sales growth (%)
Chassis Powertrain
& Safety
1
0
10.2%
7,069
8,450
2,066
824
4.8%
Interior
cons.
Automotive
Group
Chassis Powertrain
& Safety
Interior
83
Sales by Market
Other countries
4%
Other countries
1%
Germany
29%
Asia
21%
Germany
24%
Sales in 2010: €15.9 bn
Asia
26%
Sales in 2015: €23.6 bn
NAFTA
20%
Europe
(excluding
Germany)
26%
Europe
(excluding
Germany)
23%
NAFTA
26%
84
© Continental AG
Fact Book 2015 | 50
Order Intake (LTS1) in the Automotive Group €30 bn in 2015
Chassis & Safety
order intake (bn €)
› ADAS book-to-bill ratio at 2.4x
› VED book-to-bill at 1.4x on
Powertrain
Interior
› Business unit HEV acquired
› Solid order backlog with book-
>€1 bn in life-time sales
to-bill running at 1.3x in Body
& Security (BS) and
Instrumentation and Driver
HMI (ID)
› Engine Systems (ES) order
new MC100 and MC 1
› More than 40% of the order
intake was acquired outside
of Europe and NAFTA
intake impacted in H2 2015
by market environment
› First order acquired in ITS
› More than 45% of order
› >25% of order intake was
intake was acquired outside
of Europe and NAFTA
9.9
7.9
1.3
1.1
2013
2014
LTS (bn €)
1
11.2
11.1
9.7
9.4
1.3
2015
Book-to-bill
acquired in Asia
1.7
1.5
2013
2014
LTS (bn €)
9.6
9.2
8.3
1.4
1.2
1.3
2015
2013
2014
Book-to-bill
1.2
LTS (bn €)
2015
Book-to-bill
Life-time sales.
85
Production of Passenger Cars and Light Trucks (<6t)
›
Worldwide PC&LT production showed a
CAGR 2008-2015 of 4%. It is forecasted
by IHS to stay at 3% 2015-2020E
›
European market not expected to reach
pre-crisis level (2007: 22 mn) before
2018; CAGR to accelerate to 2%
(2015-2020E)
›
›
China is the largest market for PC&LT
vehicles produced. CAGR to slow to 5%
from 2015-2020E from 15% during
2008-2015 according to IHS
NAFTA expected to reach up to 19 mn
units by 2020E
Worldwide PC & LT1
production (mn units)
89
CAGR
4%
68
3
Passenger car & light truck (<6t); Source: IHS February 2016.
5%
26%
26%
26%
13%
29%
19%
20%
18%
30%
23%
22%
2008
2
5%
103
7%
31%
Europe 2
3
Rest of Asia
1
CAGR
3%
2015
NAFTA
Rest of World
2020E
China
86
© Continental AG
Fact Book 2015 | 51
Opportunities and Challenges in the Medium Term
Digitalization
Conti’s view/position:
› Market for automated driving1 is
forecasted to exceed €25 bn by
2020
› 60% of our Automotive sales in
2015 are derived from sensors,
electronics or software products
› Vision Zero accidents achievable
Electric Mobility
› FEV2 sales to account for 2% of
global car production by 2025
› Costs for battery will
predominantly drive demand for
FEV2
› Conti so far invested more than
€1 bn in electric mobility
Shared Mobility
› VCP3 to decrease but more
intense use will lead to a greater
VCP3 turn
› Shared mobility therefore should
not lead to a decrease in miles
travelled individually
› According to our own survey4, the
vast majority of people still wants
to own a car
All medium-term mobility scenarios still foresee tires on vehicles
1
2
3
4
Goldman Sachs Report, Cars 2025: Vol. 3 (Sept 2015).
FEV = Full Electric Vehicle.
VCP = Vehicle Car Park.
Continental Mobility Study 2015.
87
Growth Opportunities – Electronic Stability Control (ESC)
2008
2015
2020E
64%
35%
65%
PC&LT
68 mn
production
worldwide
PC&LT
36%
89 mn
75%
PC&LT
103 mn
production
worldwide
Installation rate ESC
Market potential ESC
25%
production
worldwide
Installation rates
› NAFTA with close to 100%
12%
1%
87%
55%
96%
penetration since 2014
› ESC systems mandatory in
Europe from 11/2014 onwards1
Asia
45%
4%
Other
Markets
13%
South
America
99%
NAFTA
Europe
88%
› Largest volume potential in
Asia; installation rate currently
only at 45%
Source: IHS and own estimates.
Regulation (EC) No. 661/2009; refers to all vehicles of category M and N.
1
88
© Continental AG
Fact Book 2015 | 52
Growth Opportunities – Advanced Driver Assistance Systems (ADAS)
2008
2015
2020E
1%
99%
10%
PC&LT
68 mn
production
worldwide
30%
PC&LT
PC&LT
89mn
production
worldwide
90%
Installation rate ADAS
Market potential ADAS
70%
103 mn
production
worldwide
Installation rates
› Installation rate in Europe
72%
87%
98%
93%
98%
expected to go up to 86% by
2020
› NAFTA follows at slower pace,
hitting 27% by 2020
Asia
7%
2%
Other
Markets
2%
South
America
13%
NAFTA
Europe
28%
› Installation rates in Asia are
estimated to grow to 15% by
2020, mainly driven by Japan
Source: IHS, Strategy Analytics and own estimates; ADAS w/o parking assist functions.
89
Growth Opportunities – Vehicle-to-X
Vehicle-to-X technology enhances vehicle safety
V2X OneBox from Conti
›
›
1
Enables ad-hoc communication
(real-time direct) without a fixed
network infrastructure1
Easy to integrate in existing
vehicle architecture
Additional safety features
›
›
›
Left-turn assist
Electronic brake light assist
Roadworks assist
NHTSA decision on introduction
of V2X technology is expected
within the next two years
i.e. no mobile phone network, no mobile network operator.
90
© Continental AG
Fact Book 2015 | 53
Growth Opportunities – Sensors and Actuators
Key Products
Electronic
Throttle Body
Sales by Markets (2015)
Market growth (bn €)
~ 11.7
21%
~ 8.5
42%
50%
NOx
Sensor
58%
CAGR
5%
CAGR
7%
29%
Knock
Sensor
2015
Europe
Flex Fuel
Sensor
NAFTA
Asia
2020
Sensors
Actuators
› Market for Sensors & Actuators (S&A) shows significant growth
› Continental wants to outgrow the market to remain a strong player
› Obtain top 3 position in relevant markets
Exhaust Gas
Recirculation
Valve
› New technologies in development for future demands
91
Source: Market Data and own estimates.
Growth Opportunities – Selective Catalytic Reduction
Key Products
2015
2020E
21%
SCR Catalyst
SCR Dosing
Control Unit
PC&LT
Diesel Engine
17 mn
production
ww
79%
48%
PC&LT
Diesel Engine
19 mn
production
ww
52%
Installation rate NOx
Market potential NOx
Tank Extraction Unit
› Exhaust aftertreatment is
Installation rates
67%
4%
100%
98%
100%
Liquid-Cooled
SCR Injector
0%
Other
Markets
2%
Asia
0%
South
America
96%
NAFTA
Deka Air Cooled
SCR Injector
Europe
33%
increasingly becoming a key
technology
› Almost all new vehicles
engines (Gasoline & Diesel)
must have SCR technology to
comply with the NOx limits
› Acquisition of Emitec
complemented the exhaust gas
aftertreatment technology
portfolio
Source: Market Data and own estimates.
92
© Continental AG
Fact Book 2015 | 54
Growth Opportunities – Gasoline Direct Injection (GDI)
2008
2015
2020E
4%
96%
Gasoline
engine
51 mn
production
ww
29%
Gasoline
engine
70 mn
production
ww
71%
44%
Gasoline
engine
56%
80 mn
production
ww
Installation rate GDI
Market potential GDI
36%
65% 100% 81%
83%
64%
35%
0%
19%
17%
Europe
NAFTA
South
America
Asia
Other
Markets
Installation rates
› Stricter CO2 emission targets in
Europe, USA, Japan and
China cause huge demand
increase for gasoline direct
injection
› GDI volume expected to grow
by 120% until 2020
Source: IHS.
93
Growth Opportunities – Gasoline Turbo Chargers (TC)
2008
2015
2020E
4%
96%
Gasoline
engine
51 mn
production
ww
22%
Gasoline
engine
70 mn
production
ww
78%
56%
production
ww
Installation rates
Asia
16%
›
Market for Gasoline Turbo
Chargers will grow from 15 mn
in 2015 to more than 36 mn in
2020
›
World's first Turbo Charger with
Aluminum Turbine Housing in
Cars (Water-Cooled)
›
Significant weight reduction by
nearly 30% while
simultaneously providing cost
and system benefits
98%
2%
Other
Markets
0%
South
America
11%
NAFTA
Europe
62%
89% 100% 84%
44%
80 mn
Installation rate TC
Market potential TC
38%
Gasoline
engine
Source: IHS.
94
© Continental AG
Fact Book 2015 | 55
Growth Opportunities – 48V Technology
2015
2020E
2025E
0%
100%
EV/HEV
engine
3 mn
production
ww
37%
EV/HEV
engine
63%
52%
48%
EV/HEV
engine
11 mn
26 mn
production
ww
production
ww
Installation rate 48V
Market potential 48V
1 TV
›
Lower CO2 emissions and less
fuel consumption up 20%1
under real driving condition
›
Due to advanced Start-Stop,
recuperation and
coasting/sailing functions
›
First SOP 2016/2017
magazine “auto mobil” broadcasted on VOX on November 16, 2014 at 5 PM.
95
Growth Opportunities – Tire Information Systems (TIS)
2008
PC&LT
68 mn
production
worldwide
2015
2020E
45%
29%
PC&LT
PC&LT
89 mn
103 mn
production
worldwide
60%
71%
40%
production
worldwide
55%
Installation rate
Market potential
Installation rate
1
› Mandatory in NAFTA since ’07
2
40%
15%
88%
77%
82%
and in Europe since ’14
› Europe at 60% penetration in
Source: Strategy Analytics, IHS and own estimates.
1 Mandatory as of Sept. 2008 for all new light vehicles.
2 Mandatory as of Nov. 2014 for all new passenger cars.
12%
NAFTA
South
America
23%
18%
Asia
85%
Other
Markets
60%
Europe
2015
› Substantial growth potential in
South America and Asia
› By 2020 around 55% still not
equipped with TIS
96
© Continental AG
Fact Book 2015 | 56
Growth Opportunities – Driver HMI Displays
2008
2015
2020E
26%
74%
PC&LT
68 mn
production
worldwide
32%
PC&LT
68%
Installation Rate Displays 1
Market Potential Displays1
103 mn
production
worldwide
51%
79%
80%
45%
production
worldwide
Installation rate
52%
PC&LT
55%
89 mn
73%
› Legislation will boost sales
further
› Head-Up Displays with
Asia
20%
27%
Other
Markets
21%
South
America
49%
NAFTA
Europe
48%
smallest overall share, but 3Dnavigation will boost
installation rates
› Clear trend towards larger and
increasing number of displays
per vehicle2
Source: IHS and own estimates.
1
Driver HMI Displays include Head Up Displays, Secondary Displays and Integrated Center Stacks, excludes Multimedia Displays.
2
Market potential understated as up to five displays are feasible per vehicle.
97
Growth Opportunities – Road Database
Road Database, an important step towards highly/fully automated driving
Built-in sensors in numerous
vehicles deliver
real-time road data
The backend continuously
generates highly accurate
road map data
Important for
›
›
›
ADAS functions
Dynamic eHorizon
Highly/fully automated driving
98
© Continental AG
Fact Book 2015 | 57
Growth Opportunities – Mirror Replacement
Mirror Replacement: unobstructed view without physical contortions
Information & safety
enhancement
Lower fuel consumption and
improved interior acoustics
› No blind spots
› Better visibility
› Connection to ADAS functions
1
› Lower cd1 value
› Less wind flow noise
EU decision expected for
2016, start of production
targeted for 2018
Air drag coefficient.
99
Topics
I.
3
II.
15
25
47
60
VI. Market Data
69
VII. Automotive Group – Chassis & Safety Division
101
VIII. Rubber Group
131
161
X. Glossary
170
100
© Continental AG
Fact Book 2015 | 58
VII. Chassis & Safety
Vehicle Dynamics
Hydraulic
Brake Systems
Passive Safety
& Sensorics
Advanced Driver
Assistance Systems
› Electronic Brake Systems
› Calipers
› Integrated vehicle safety
› Functions
›
Passenger Cars /
Motorcycles
ABS / ESC / OCB
›
› Software functions
›
›
›
›
›
›
›
development, safety testing &
validation
› Drum brakes
Traction control
Regenerative brake system
Active front steering
Hill start assist
Hydraulic brake assist
Trailer stability assist
› Chassis electronics
› Brake hoses
› Airbag control units / safety
› Boosters
› Crash sensors
› Tandem master cylinders
› Inertial measurement units
› Electric parking brakes
› Chassis and driver intention
›
›
›
›
›
›
›
(domain) control units
sensors
› Pedal modules
›
›
› Battery and energy
› Brake pressure regulators
monitoring sensors
› Sensors
› Electronic components
› Washer systems
›
›
›
(1st tier customer)
› Wheel, engine and
› Suspension systems
Emergency brake assist
Lane departure warning
Lane change support
Blind spot detection
Traffic sign assist
Intelligent head lamp
control
Rear cross traffic alert
Surround View
transmission speed sensors
Radar
Camera
Lidar
› Accelerator Force Feedback
Pedal (AFFP®)
› V2X systems
101
Locations Worldwide
67 sites for production and R&D in 20 countries. Divisional headquarter in Frankfurt/Main, Germany.
Europe Belgium
▐
Mechelen
Czech Republic
▐
▐
▐
Adrspach
Frenstat
Jicin
France
▐
▐
Boussens
Toulouse
Hungary
▐
▐
Budapest
Veszprém
Italy
▐
Portugal
▐
Palmela
Romania
▐
▐
▐
Sweden
▐
Arvidsjaur
UK
Iasi
▐ Ebbw Vale
Sibiu
▐ Lewes
Timişoara ▐ Birmingham
Slovakia
Cairo Montenotte ▐ Zvolen
China
Germany
▐
▐
▐
▐
▐
▐
▐
▐
Alzenau
Bebra
Frankfurt
Gifhorn
Hanover
Ingolstadt
Karben
Korbach
▐
▐
▐
▐
▐
▐
Lindau
Nuremberg
Regensburg
Rheinböllen
Schwalbach
Ulm
▐
▐
▐
▐
▐
▐
▐
▐
Shanghai
▐ Jiading SABS
Jiading TC
▐ Chongqing
Jiading CASS
Changchun I
Changchun II
Changshu
Heihe
Lian Yun Gang
USA
▐ Auburn Hills
▐ Brimley
▐ Culpeper
▐ Henderson
▐ Morganton
▐ Seguin
South Korea
▐
▐
▐
Sejong
Icheon
Pangyo
Japan
▐
▐
▐
▐
Mexico
▐
▐
▐
▐
Ayala Morelos (Cuautla)
Guadalajara
Las Colinas
Silao
Brazil
▐
▐
▐
▐
Salto
Varzea Paulista
Production/R&D
Joint Ventures ≤ 50%
India
Bangalore
Gurgaon
(New Delhi)
▐ Manesar
▐
▐
Malaysia
▐
Penang
Asahi
Hamakita
Monbetsu
Yokohama
Philippines
▐
▐
Calamba
Manila
102
© Continental AG
Fact Book 2015 | 59
Key Figures
(in € millions)
Sales
EBITDA
in % of sales
EBIT
2013
2014
2015
7,269.2
7,514.9
8,449.7
990.2
1,018.1
1,160.3
13.6
13.5
13.7
598.9
680.2
814.3
in % of sales
8.2
9.1
9.6
710.4
817.2
9.5
9.7
4,032.6
3,956.5
4,277.7
14.9
17.2
19.0
535.3
629.5
691.2
EBIT adjusted1
in % of sales1
ROCE
R, D & E expenses
in % of sales
Capex2
7.4
8.4
8.2
401.7
411.6
470.3
in % of sales
5.5
5.5
5.6
391.3
337.9
346.0
in % of sales
thereof impairment4
1
2
3
4
5.4
4.5
4.1
41.4
4.7
-0.1
Capital expenditure on property, plant and equipment and software.
103
Sales by Market
Other countries
4%
Other countries
1%
Asia
30%
Germany
30%
Asia
23%
Germany
24%
Sales in 2010: €5.8 bn
NAFTA
19%
Europe
(excluding
Germany)
24%
Europe
(excluding
Germany)
20%
NAFTA
25%
104
© Continental AG
Fact Book 2015 | 60
Market Position for Electronic Brake Systems 2015
Europe
All others
Continental
Bosch
TRW
North America
All others
Continental
Bosch
TRW
South America
All others
Continental
Bosch
TRW
Asia/Pacific
All others
Continental
Advics
Bosch
World
All others
Continental
Advics
Bosch
Source: Continental estimates.
Market share of all suppliers other than top 3
105
Market Position for Foundation Brake Systems 2015
Europe
All others
Continental
CBI
TRW
North America
All others
Continental
Akebono
TRW
South America
All others
Continental
CBI
TRW
Asia/Pacific
All others
Continental
Advics
TRW
World
All others
Continental
Advics
TRW
106
© Continental AG
Fact Book 2015 | 61
Market Position for Actuation 2015
Europe
All others
Continental
Bosch
TRW
North America
All others
Continental
Bosch
TRW
South America
All others
Continental
Bosch
TRW
Asia/Pacific
All others
Continental
Advics
Bosch
World
All others
Continental
Bosch
TRW
107
Market Position for Airbag Electronics 2015
Europe
All others
Continental
Autoliv
Bosch
North America
All others
Continental
Autoliv
Bosch
South America
All others
Continental
Autoliv
TRW
Asia/Pacific
All others
Continental
Autoliv
Denso
World
All others
Continental
Autoliv
Bosch
108
© Continental AG
Fact Book 2015 | 62
Market Position for Advanced Driver Assistance Systems 2015
Europe
All others
Continental
Autoliv
Bosch
North America
All others
Continental
Autoliv
Magna
Asia/Pacific
All others
Continental
Denso
Valeo
World
All others
Continental
Bosch
Valeo
109
Growing Sales Volume for Electronic Brake Systems
(in mn units, excluding motorcycles)
30
ABS/TCS
ESC
20
10
0
2006
2008
2010
2012
2014
2016
2018
2020
Model Selection
Europe
NAFTA
Asia
›
›
›
›
›
›
›
›
›
›
›
›
›
›
›
›
›
›
›
›
›
Audi A3
BMW 1 Series / 2-Series / 3 Series / X1/ i3
Ford Focus / Mondeo / Kuga / Fiesta / Transit
Mercedes C Class
Fiat Doblo / Giulietta / Alfa E-Class
Opel Astra / Zafira / Vivaro
Peugeot 208 / 2008 / C3 Picasso / Cactus
Renault Scenic / Espace /Fluence / Talisman
Nissan Note / Navara / Andrew
Skoda Octavia / Yeti
Toyota Yaris
Volvo S60 / V40 / V60 / V90 / XC60 / XC90
VW Golf / Passat
›
›
›
›
›
›
BMW X3 / X4 / X5
Chevrolet Equinox / Colorado / Terrain
Chrysler 300 / JEEP Wrangler / Dodge RAN
1500
Ford Explorer / Escape / Focus / Fusion /
Edge
Honda Odyssey / Civic / Accord / Pilot /
Ridgeline
Hyundai Kia Forte
Mazda Axekla / Demio
Subaru Legacy / Outback
VW Jetta / New Beetle / Golf / New Passa
›
›
›
›
›
›
Ford Edge / Focus / Kuga / Mondeo
Greatwall CH051 SUV
GM Buick Envision
Honda Civic
Hyundai i 10 / Velostar / Kia Morning /
K3 / Ray
Mazda Axela / Demio / Premacy / CX-5
Mitsubishi Lancer / Outlander / RVR
Nissan Note / Sylphy / Navara
Proton Iriz / Saga
PSA 208 / 2008 / C-Elysee
Skoda Octavia / Superb
›
›
›
›
Subaru Legacy / Impreza /
Levorg
Suzuki Spacia / Swift / Hustler
Toyota Mark X
VW Lavida / Bora / Passat /
Touran / Magotan / Tiguan /
Lamando
110
© Continental AG
Fact Book 2015 | 63
Topics
I.
II.
3
15
25
47
60
VI. Market Data
69
VII. Automotive Group – Powertrain Division
112
VIII. Rubber Group
131
161
X. Glossary
170
111
VII. Powertrain
Engine Systems
Transmission
Hybrid Electric
Vehicle
Sensors &
Actuators
Fuel & Exhaust
Management
› Engine Management
›
Control units for
›
Power electronics
›
Actuators for
›
Fuel delivery modules
› Automatic
transmission
› Double clutch
transmission
› Automated manual
transmission
› Continuously
variable
transmission
›
Electric motors
›
Fuel level sensors
›
Battery management
systems
›
Fuel pumps
›
Energy management
› Electric pumps
› Electric throttle & air
control
› Exhaust & emission
› General purpose
›
Electronics for fuel
pump control
›
Fluid level sensor with
sealed contact system
›
Catalysts and filters
›
Tank-integrated
UREA dosing system
Systems and fuel
components for
› Diesel Piezo Common
Rail Injection System
› Gasoline Solenoid
Direct Injection
› Gasoline Port
Injection
› Liquefied Petroleum
Gas (LPG) and
Compressed Natural
Gas (CNG)
› Exhaust
Aftertreatment
› Engine Management
Systems and exhaust
after-treatment products for commercial
vehicle applications
›
›
Power net systems
› Exhaust & emission
sensors for
› Exhaust gas
› Fluids: Oil level, fuel,
UREA
› Temperature
Control units for 4x4
and AWD applications
›
›
›
›
Transfer cases
Differentials
Limited slip coupling
Axle disconnect
›
Engine & transmission sensors
›
›
›
›
›
Airflow
Combustion
Position
Pressure
Door handle sensors
› Turbochargers for
gasoline engines
112
© Continental AG
Fact Book 2015 | 64
VII. Powertrain
Locations Worldwide
54 sites for production and R&D in 19 countries. Divisional headquarters in Regensburg, Germany.
Europe Czech Republic France
▐
▐
▐
▐
Brandys
Frenstat
Trutnov
Ostrava
▐
▐
▐
▐
Boussens
Faulquemont
Foix
Toulouse
Hungary
▐
Budapest
Italy
▐
Romania
▐
▐
▐
▐
Brasov
Iasi
Sibiu
Timişoara
Germany
▐
▐
▐
▐
▐
▐
▐
Bebra/Mühlhausen
Berlin
Dortmund
Eisenach
Gifhorn
Grünstadt
Karben
▐
▐
▐
▐
▐
▐
Limbach-Oberfrohna
Lohmar
Nuremberg
Russia
Regensburg
▐ Kaluga
Roding
Schwalbach
Canada
▐ Chatham
USA
▐
▐
▐
▐
▐
▐
China
▐
▐
▐
▐
Pisa
Changchun
Shanghai
Tianjin
Wuhu
South Korea
Auburn Hills
Dearborn
Deer Park
Fountain Inn
Newport News
Seguin
▐
▐
Icheon
Sejong
Japan
▐
Yokohama
Mexico
▐
▐
▐
Ayala Morelos (Cuautla)
Guadalajara
Juarez
Philippines
India
▐
▐
▐
▐
Bangalore
Manesar
Pune
▐
Brazil
▐
▐
Guarulhos
Salto
Calamba
Malaysia
Penang
Thailand
▐
Amata City
Australia
▐
Bundoora
113
VII. Powertrain
Key Figures
(in € millions)
Sales
EBITDA
in % of sales
EBIT
in % of sales
2013
2014
2015
6,260.3
6,494.3
7,068.5
650.2
443.3
730.7
10.4
6.8
10.3
179.5
-96.8
395.6
2.9
-1.5
5.6
260.5
424.6
4.0
6.1
2,936.9
2,733.0
2,767.8
6.1
-3.5
14.3
561.8
635.1
708.7
EBIT adjusted1
in % of sales1
ROCE
R, D & E expenses
in % of sales
Capex2
in % of sales
in % of sales
thereof impairment4
9.0
9.8
10.0
360.5
428.0
468.4
5.8
6.6
6.6
470.7
540.1
335.1
7.5
8.3
4.7
38.9
168.4
0.5
1
4
2
3
114
© Continental AG
Fact Book 2015 | 65
VII. Powertrain
Sales by Market
Other countries
1%
Other countries
1%
Germany
26%
Asia
22%
Asia
25%
Germany
22%
NAFTA
20%
Europe
(excluding
Germany)
31%
NAFTA
25%
Europe
(excluding
Germany)
27%
115
VII. Powertrain
Market Position for Diesel Injection Systems1 2015
Europe
Asia/Pacific
World
1
For passenger cars & light trucks.
All others
Continental
All others
Continental
All others
Continental
Bosch
Delphi
Bosch
Delphi
Denso
Bosch
Delphi
Denso
116
© Continental AG
Fact Book 2015 | 66
VII. Powertrain
Market Position for Gasoline Injection Systems1 2015
Europe
All others
Continental
Bosch
Hitachi
North America
All others
Continental
Bosch
Denso
South America
Continental
All others
Bosch
Delphi
Magneti Marelli
Asia/Pacific
All others
Continental
Bosch
Denso
World
All others
Continental
Bosch
Denso
1
117
VII. Powertrain
Market Position for Transmission Control Units1 2015
Continental
Bosch
ZF Electronics
Europe
All others
North America
All others
Asia/Pacific
All others
Continental
Aisin
Denso
World
All others
Continental
Bosch
Denso
Continental
Bosch
Hitachi
1
118
© Continental AG
Fact Book 2015 | 67
VII. Powertrain
Opportunities and Challenges
Gasoline-related
business
Diesel-related
business
HEV-related
business
FEV-related
business
100%1
160%
160-260%
300%
› Engine management
systems for diesel piezo
common rail injection
(Injector, ECUs,
pressure pumps)
systems (gasoline/diesel)
› High voltage axle drive
› Exhaust aftertreatment
› Turbochargers
and
› 48V solutions
or
› Plug-in hybrid solutions
systems for solenoid
direct injection (injector,
ECU, pressure pumps)
› Sensors and actuators
› Turbochargers
› Power electronics
› Battery management
systems
› Inverters and DC/DC
converters
› Electric water pumps
Well positioned in all key technologies
1
Value of displayed gasoline content per car is indexed at 100%;
all other values read relative to the gasoline content.
119
VII. Powertrain
Shared Mobility – Overrated?
1
Continental Mobility Study 2015.
Respondents agreeing with statement.
120
© Continental AG
Fact Book 2015 | 68
Topics
I.
II.
3
15
25
47
60
VI. Market Data
69
VII. Automotive Group – Interior Division
122
VIII. Rubber Group
131
161
X. Glossary
170
121
VII. Interior
Instrumentation &
Driver HMI
Infotainment &
Connectivity
Intelligent
Transportation
Systems
Body & Security
Commercial
Vehicles &
Aftermarket
›
Instrument clusters
›
Radios
›
Commercial fleet
operations & logistics
›
Body control modules
›
Display solutions
›
Multimedia systems
›
Access control systems
Head-up displays
›
›
›
Connectivity &
telematics solutions
Emergency
management
›
Tachographs, telematics
and services
›
Door control units
Control panels
›
Software &
connected solutions
Maintenance
management
Visual and haptic
human-machine
interface
›
›
›
›
Seat comfort systems
›
›
Advanced public
transportation systems
›
Power closures
Chassis, body, and
transmission electronics
›
›
Tire information systems
›
Advanced traveler
information systems
›
›
Gateways
Advanced traffic
management systems
›
Energy management
›
Safety
›
LED light control units
Wear parts, spare parts,
tools, services, and
multi-brand vehicle
diagnostics for the
independent aftermarket,
as well as diagnostics
and services for vehicle
manufacturers
›
Traffic payment
›
Intelligent antenna
modules
›
Original equipment
services
›
Smart device integration
›
Central input devices
›
Interior cameras
›
Cockpit modules
122
© Continental AG
Fact Book 2015 | 69
VII. Interior
Locations Worldwide
66 sites for production and R&D in 23 countries. Divisional headquarters in Regensburg, Germany.
Europe
Austria
▐
Vienna
Czech Rep.
▐
▐
▐
France
▐
▐
▐
▐
Boussens
Foix
Rambouillet
Toulouse
Brandŷs
Frenštát
Adršpach Hungary
▐ Budapest
Romania
Iasi
Sibiu
Timişoara
Spain
▐ Rubi
▐
▐
▐
Switzerland
▐
Rüthi
Sweden
▐ Arvidsjaur
UK
▐
▐
▐
▐
Birmingham
Bridgewater
Coventry
Devizes
Germany
▐
▐
▐
▐
▐
▐
Babenhausen
Bebra
Dortmund
Ingolstadt
Karben
Karlsruhe
▐
▐
▐
▐
▐
▐
Markdorf
Nuremberg
Regensburg
Russia
Schwalbach am Taunus ▐ Chistopol
Villingen-Schwenningen
Wetzlar
China
▐
▐
▐
▐
▐
▐
Changchun
Jinan
Nanjing
Shanghai
Tianjin
Wuhu
USA
Auburn Hills
Deer Park
Newport News
Seguin
Troy
Santa Clara
▐
▐
▐
▐
▐
▐
South Korea
▐
▐
▐
Gyeonggi-do
Icheon-city
Sejong-si
Japan
Mexico
▐
▐
▐
▐
▐
▐
Cuautla
Guadalajara
Nogales
Tlaquepaque
Philippines
India
▐
▐
▐
Bangalore
Manesar
Malaysia
▐
Brazil
▐
▐
▐
Gravatai
Guarulho
Salto
▐
▐
Resende
São Bernardo
do Compo
Yokohama
Aichi / Nagoya
Penang
Thailand
▐
Bangkok
Manila
Singapore
▐
Singapore
Australia
▐
▐
Bundoora
Campbellfield
123
VII. Interior
Key Figures
(in mn €)
Sales
EBITDA
in % of sales
EBIT
in % of sales
2013
2014
2015
6,605.7
7,002.5
8,154.8
850.2
946.3
1,082.2
12.9
13.5
13.3
380.6
605.9
804.5
5.8
8.7
9.9
708.4
824.3
10.1
10.2
3,989.4
3,814.5
4,192.0
9.5
15.9
19.2
492.0
570.9
697.3
EBIT adjusted1
in % of sales1
ROCE
R, D & E expenses
in % of sales
Capex2
in % of sales
in % of sales
thereof impairment4
7.4
8.2
8.6
253.3
286.1
336.0
3.8
4.1
4.1
469.6
340.4
277.7
7.1
4.9
3.4
47.5
5.8
0.3
1
4
2
3
124
© Continental AG
Fact Book 2015 | 70
VII. Interior
Sales by Market
Other countries
8%
Other countries
3%
Asia
23%
Germany
31%
Germany
25%
Asia
18%
NAFTA
19%
Europe
(excluding
Germany)
24%
Europe
(excluding
Germany)
22%
NAFTA
27%
125
VII. Interior
Market Position for Body & Security 2015
Europe
All others
Continental
Hella
Lear
North America
All others
Continental
Denso
Lear
South America
All others
Continental
Bosch
Delphi
Asia/Pacific
All others
Continental
Denso
Sumitomo
World
All others
Continental
Denso
Hella
126
© Continental AG
Fact Book 2015 | 71
VII. Interior
Market Position for Instrumentation & Driver HMI1 2015
Europe
All others
Continental
Bosch
Visteon
North America
All others
Continental
Denso
Visteon
South America
All others
Continental
Denso
Visteon
Asia/Pacific
All others
Continental
Denso
Nippon Seiki
World
All others
Continental
Denso
Visteon
Excluding cockpit modules.
1
127
VII. Interior
Market Position for Infotainment & Connectivity 2015
Europe
All others
Continental
Bosch
Harman
North America
All others
Continental
Harman
Panasonic
South America
All others
Continental
Bosch
Panasonic
Asia/Pacific
Continental
All others
Clarion
Mobis
Panasonic
World
Continental
All others
Bosch
Harman
Panasonic
128
© Continental AG
Fact Book 2015 | 72
VII. Interior
Market Position for Commercial Vehicle1 2015
Europe
All others
Continental
Stoneridge
Wabco
North America
All others
Continental
Phoenix
Stoneridge
South America
All others
Continental
Bosch
Wabco
Asia/Pacific
All others
Continental
DETC
Yazaki
World
All others
Continental
Stoneridge
Yazaki
129
Market shares for commercial vehicle business as described in BU structure excluding automotive aftermarket.
1
Topics
I.
II.
15
25
47
60
VI. Market Data
69
3
82
VIII. Rubber Group
131
161
X. Glossary
170
130
© Continental AG
Fact Book 2015 | 73
VIII. Rubber Group
Key Figures
2013
(in mn €)
Sales
EBITDA
15,704.6
2,714.0
2,832.6
3,181.5
20.3
20.8
20.3
2,214.8
2,262.7
2,255.8
in % of sales
16.6
16.6
14.4
2,293.8
2,544.0
16.8
17.6
5,913.3
6,339.2
8,556.6
37.5
35.7
26.4
289.3
302.2
352.4
EBIT adjusted1
in % of sales1
ROCE
R, D & E expenses
in % of sales
Capex2
2.2
2.2
2.2
964.6
914.9
903.4
in % of sales
7.2
6.7
5.8
499.2
569.9
925.7
3.7
4.2
5.9
-1.1
—
92.9
in % of sales
thereof impairment4
1
2
3
4
2015
13,637.6
in % of sales
EBIT
2014
13,355.5
131
VIII. Rubber Group
Sales and Adjusted EBIT1 by Division
Rubber Group Sales (mn €) FY 2015
15,705
10,409
1.0%
Rubber Group Adj. EBIT1 (mn €) FY 2015
- 72
2,544
2,109
1.9%
0
20.4%
17.6%
5,368
435
3.9%
Organic sales growth (%)
ContiTech
1
Tires
cons.
10.4%
Rubber Group
ContiTech
1
Adj. EBIT margin (%)
Tires
cons.
Rubber Group
132
© Continental AG
Fact Book 2015 | 74
VIII. Rubber Group
Sales by Market
Other countries
7%
Other countries
7%
Asia
12%
Germany
25%
Asia
8%
Germany
18%
NAFTA
17%
Sales in 2010: €10.2 bn
Sales in 2015: €15.7 bn
Europe
(excluding
Germany)
43%
NAFTA
27%
Europe
(excluding
Germany)
36%
133
VIII. Rubber Group
Growth Opportunities – Replacement Tires Demand for PC&LT Tires
›
Global replacement tire market to
grow with a CAGR of 4% from
2015 to 2020E1
›
Europe to stay the largest
replacement tire market by
volume; CAGR to accelerate to
3% from 2015 to 2020E
›
China expected to show a CAGR
of 10-11% from 2015 to 2020E
PC&LT2 Replacement
Tires (bn units)
CAGR
4%
0,91
CAGR
3%
9%
24%
22%
8%
13%
29%
25%
32%
29%
2008
Europe
Rest of Asia
1
2
According to LMC.
Passenger and light truck replacement tire market source: LMC (December 2015).
1,12
9%
2015
NAFTA
Rest of World
1,36
10%
23%
18%
22%
27%
2020E
China
134
© Continental AG
Fact Book 2015 | 75
VIII. Rubber Group
Growth Opportunities – Improving Tire Mix due to rising SUV & Pick-Up Share
PC & LT1 Production Europe
PC & LT1 Production NAFTA
Share of SUVs and Pickup Trucks
4%
2005
2010
49%
53%
53%
2005
2010
2015
2020E
28%
22%
12%
46%
2015
2020E
PC & LT1 Production China
PC & LT1 Production Worldwide
2005
1
32%
28%
11%
6%
2010
2015
2020E
21%
21%
2005
2010
32%
34%
2015
2020E
Passenger car & light truck (<6t); source: IHS Dec 2015.
135
VIII. Rubber Group
Additional Tire Production Capacity of around 30 mn Units by 2017/18
(mn units)
+3
Kaluga
+2
Otrokovice +0.8
+0.4
(US)
(RU)
(CZ)
Mount Vernon
+6
+11
Puchov +0.5
(SK)
Sumter
Hefei
+1.3 +0.7
(US)
+3
(CN)
Modipuram
(IN)
+0.3
Camaçari
(BRA)
Passenger tires
Truck tires
136
© Continental AG
Fact Book 2015 | 76
VIII. Rubber Group
Tires: Key Initiatives 2001 – Vision 2025
Stage 1: 2001 – 2010
Stage 2: 2011 – 2015
Stage 3: 2016 – 2025
Sustain Value
Create Value
Enhance Value
› Global footprint and business
optimized
› Accelerate global growth
(focus on BRIC countries)
› Strong cost focus
› Leverage cost position
› Benefit from excellent cost
position
› Global presence of CVT sustained
(SAM/APAC)
› Improve technology position to
establish among “Best In Class”
› Achieve podium position in
technology worldwide
› Balanced global footprint
› Turnaround of PLT business in
NAFTA succeeded
› Worldwide technology gap to
competition closed
Continuous value creation is our driving force!
137
VIII. Rubber Group
Tires Vision 2025 – Towards a more Balanced Footprint
Passenger & Light Truck Tires1
Truck Tires1
2025
Specialty – Commercial2
2025
2025
7%
21%
72%
21%
5%
46%
50%
Specialty – Consumer2
74%
2025
4%
16%
3%
81%
Note:
Inner circle as of 2012.
Outer circle vision 2025.
1
2
Based on unit sales.
Based on net sales.
The Americas
APAC
EMEA
138
© Continental AG
Fact Book 2015 | 77
VIII. Rubber Group
Cumulative Market for ContiTech Products
Σ~€50 bn
Σ~€40 bn
2014
Mobile Fluid Systems¹
Benecke-Kaliko Group
Vibration Control
Air Spring Systems
Compounding Technology
2020
Industrial Fluid Systems¹
Conveyor Belt Group
Power Transmission Group
Elastomer Coatings
139
1 Since early 2016 the Business Unit Fluid Technology is organized into Mobile Fluid Systems and Industrial Fluid Systems.
Topics
I.
II.
15
25
47
60
VI. Market Data
69
3
82
VIII. Rubber Group – Tires Division
141
161
X. Glossary
170
140
© Continental AG
Fact Book 2015 | 78
VIII. Tires
Business Units and Tire Brands
Passenger
and Light
Truck Tires
Passenger
and Light
Truck Tires
Passenger
and Light
Truck Tires
Passenger
and Light
Truck Tires
Original
Equipment
Replacement
EMEA
Replacement
The Americas
Replacement
APAC
Truck Tires
EMEA
Truck Tires
APAC
Tires, services and solutions
for customer segments:
Tires for:
›
›
›
Truck Tires
The Americas
Compact, medium-size and full-size cars
4x4 and SUVs
Vans, light trucks and recreational vehicles
›
›
›
Material
handling
Agriculture
Earthmoving
Tires and
tubes for:
› Bicycles:
Race,
Mountainbike,
City/Trekking
› Motorcycles:
Scooters, Big
bikes >150cc,
Bikes <150cc
3
3
Ext. mobility
systems:
SSR
Minispares
Conti
KomfortKit
› Conti
MobilityKit
› ContiSeal
› ContiSilent
NVH engineering services
Goods
People
Construction
Tires, services
and solutions
for the
applications:
Two Wheel
Tires
2
1
›
›
›
›
›
›
Commercial
Specialty Tires
4
– – – Segmentation into Premium, Quality and Budget.
Except NAFTA, Colombia, Peru.
2
Only in Australia and Taiwan.
3
Trademark rights for Malaysia, Singapore and Brunei.
4
Only in Australia, China, Malaysia and Taiwan.
1
141
VIII. Tires
Key Figures
2013
2014
Sales
9,583.2
9,784.4
10,408.8
EBITDA
2,137.7
2,280.8
2,604.3
22.3
23.3
25.0
1,752.7
1,829.4
2,085.2
(in mn €)
in % of sales
EBIT
in % of sales
18.7
20.0
EBIT adjusted1
1,856.6
2,109.0
in % of sales1
19.0
20.4
4,645.8
4,932.0
5,322.2
37.7
37.1
39.2
204.7
216.9
244.9
ROCE
R, D & E expenses
in % of sales
Capex2
in % of sales
in % of sales
thereof impairment4
1
2
3
4
18.3
2015
2.1
2.2
2.4
798.6
724.3
658.2
8.3
7.4
6.3
385.0
451.4
519.1
4.0
4.6
5.0
-1.3
—
6.8
142
© Continental AG
Fact Book 2015 | 79
VIII. Tires
Sales by Market
Other countries
7%
Other countries
8%
Germany
19%
Asia
6%
NAFTA
21%
Asia
9%
Germany
15%
Sales in 2015: €10.4 bn
NAFTA
27%
Europe
(excluding
Germany)
46%
Europe
(excluding
Germany)
42%
143
VIII. Passenger and Light Truck Tires
Market Share for Passenger and Light Truck Tires1 2015
2
Europe
North America
1
Replacement.
2
Western and Central including Turkey.
3
Dissolving of alliance in October 2015.
All others
Continental
All others
Continental
Goodyear/Sumitomo3
Michelin
Bridgestone/Firestone
Goodyear
Michelin
144
© Continental AG
Fact Book 2015 | 80
VIII. Commercial Vehicle Tires
Market Share for Truck Tires1 2015
Europe
2
North America
Continental
All others
Goodyear/Sumitomo3
Michelin
Continental
All others
Goodyear
Michelin
1
Replacement.
2
Western and Central, incl. Turkey.
3
Dissolving of alliance in October 2015.
145
Continental Worldwide PLT Production 20151
(in mn units)
11
5
2
6
Mount Vernon
Sumter
(US)
(US)
San Luis Potosí
(MX)
Hefei
3
2
(CN)
7
Alor Star /
Petaling Jaya
Cuenca
(EC)
(MY)
Camaçari
3
(BR)
Port Elizabeth
(ZA)
1
Without Europe.
146
© Continental AG
Fact Book 2015 | 81
Continental European PLT Production 2015
2
(in mn units)
Kaluga
(RU)
9
21
8
14
10
Korbach
Aachen
16
Otrokovice
(DE)
(CZ)
Puchov
(SK)
Sarreguemines
(FR)
18
Timişoara
(RO)
Lousado
(PT)
147
Continental Worldwide Truck Tire Production1 2015
(in mn units)
2.5
3.1
0.9
Otrokovice
(CZ)
Mount Vernon2
Puchov
(SK)
(US)
0.4
Modipuram
0.6
(IN)
0.2
0.2
Petaling Jaya
(MY)
Camaçari
Cuenca
(BR)
(EC)
0.05
Port Elizabeth
(ZA)
1
2
Production of bias and radial tires.
Including deliveries to joint venture partners.
148
© Continental AG
Fact Book 2015 | 82
VIII. Tires
Cost of Labor at Continental Manufacturing Sites1
Germany
100%
France
90%
USA
79%
Mexico
66%
Portugal
56%
Ecuador
37%
Slovakia
36%
Czech Republic
35%
Brazil
30%
South Africa
27%
Romania
23%
Russia
20%
China
17%
Malaysia
13%
India
8%
0%
1
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
149
Based on average currency exchange rates 2015.
Product Mix Improvement
Winter tires worldwide1
(in mn units / increase year-over-year in %)
High performance summer tires worldwide2
(in mn units / increase year-over-year in %)
42
40,3%
37
35
32
21
21
21
22
29
22
21
24
21,8%
13,2%
6,8%
3,8%
0,7%
1,7%
14,0%
6,5%
7,0%
2013
2014
0,7%
-3,0%
2010
1
2
2011
2012
2013
2014
OE and replacement (excl. all-season tires).
All summer tires and all-season tires with rim sizes of at least 17 inches.
2015
2010
2011
2012
2015
150
© Continental AG
Fact Book 2015 | 83
Unit Sales 2010 – 2015
160
(in mn units)
140
120
114
5
100
25
128
134
123
122
124
6
8
9
10
29
30
32
33
35
87
84
84
86
88
2011
2012
2014
2015
12
80
60
40
84
20
0
2010
Europe (incl. Rest of world)
2013
The Americas
Asia / Pacific
151
Unit Sales 2010 – 2015
9,0
(in mn units)
8,0
7.0
7,0
6.3
6,0
0,3
5,0
4,0
3,2
7.1
0,4
0,7
3,5
3,5
3,1
2,9
2011
2012
7.5
0,8
7.8
0,9
8.2
0,8
4,1
3,6
3,9
3,1
3,0
3,3
2014
2015
3,0
2,0
1,0
2,8
0,0
2010
Europe (incl. Rest of world)
2013
The Americas
Asia / Pacific
152
© Continental AG
Fact Book 2015 | 84
Topics
I.
II.
3
15
25
47
60
VI. Market Data
69
82
VIII. Rubber Group – ContiTech Division
154
161
X. Glossary
170
153
VIII. ContiTech
Air Spring Systems
Benecke-Kaliko Group
Compounding Technology Conveyor Belt Group
Elastomer Coatings
› Air suspensions systems
for bus, trucks rail vehicle
› Compensators
› Technical and decorative
surface materials for
automotive interior trim
› Compounds
› Compound development
› Testing services
› Air actuators for
pneumatics
› Surface materials for
industrial applications
›
›
›
›
›
›
›
› Steel cord / fabric belts
› Special-purpose belts
› Conveyor belts
components
› PVC light belts
› Service material
› Rubber tracks
› Air springs for vibration
isolation
Industrial Fluid Systems1
Mobile Fluid Systems1
Power Transmission Group Vibration Control
› Industrial hoses
› Fittings
›Hoselines in vehicles
› Exhaust & fuel systems
› Powertrain
› Air conditioning
› Heating / cooling systems
› Steering and chassis
› Turbocharger
›
›
›
›
›
› Hoses for onshore &
offshore applications
1
V-belts
Multiple V-ribbed belts
Timing belts
Flat belts
Belt drive systems
› Rubber-to-metal bonded
products
› Hydromounts
› Mount systems
› Precision molded parts
› Blow molded parts
› Plastic parts
Since early 2016 the Business Unit Fluid Technology is organized into Mobile Fluid Systems and Industrial Fluid Systems.
Coated fabrics
Printing blankets/ -forms
Diaphragms /-materials
Gasholder diaphragms
Collapsible fuel tanks
Collapsible tanks
Concertina walls
› PERFORMANCE
› AFFINITY
› RESPONSIBILITY
154
© Continental AG
Fact Book 2015 | 85
VIII. ContiTech
Forming a Global Player in Rubber and Plastics Technologies
Top 10 Non-Tire Rubber Companies – 2014 Sales (€ mn)
6,000
Non-Tire
Rubber Sales
5,000
4,000
3,000
2,000
1,000
0
ContiTech
& Veyance
Bridgestone Freudenberg Hutchinson
(Seals and
Diversified
Vibration
Products
Control Tech.)
Sumitomo
Riko
Trelleborg AB
(excl. wheel
business)
Cooper
Standard
Pinafore
(Tomkins)
NOK
(Seal
Business)
Parker-Hanifin
Filtration and
Engineered
Systems
155
VIII. ContiTech
Locations Worldwide
109 sites for production and R&D in 27 countries. Divisional headquarters in Hanover, Germany.
Greece
Czech Republic
▐ Ostrava-Hrabova ▐ Vólos
France
▐ Andrezieux
▐ Lyon
Finland
▐ Tampere
Poland
▐ Wągrowiec
Romania
Hungary
▐ Carei
▐ Makó
▐ Nyiregyhaza ▐ Nadab
▐ Timişoara
▐ Szeged
▐ Vác
Russia
▐
Canada
▐ Bowmanville
▐ Saint Alphonse de Granby
USA
▐ Auburn Hills
▐ Fairlawn
▐ Halstead
▐ Hannibal
▐ Hogansville
▐ Houston
▐ Lincoln
▐ Marysville
▐ Mount Pleasant
Mexico
▐ Chihuahua
▐ Delicias
▐ Mexico City
▐ Montemorelos
▐ Monterrey
▐ San Luis Potosí
▐
Production/R&D
▐
▐
▐
▐
▐
▐
▐
▐
▐
Moscow
Kaluga
Serbia
▐ Subotica
▐ Veliki Crljeni
Slovakia
▐ Dolné
Vestenice
▐ Puchov
Slovenia
▐ Kranj
Spain
▐ Pamplona
Turkey
▐ Bursa
▐ Cerkezköy
UK
▐ Ashington
▐ Grimsby
▐ Thetford
▐ Wigan
Germany
▐ Aachen
▐ Bad Blankenburg
▐ Berlin/Hoppegarten
▐ Dannenberg
▐ Eislingen
▐ Geithain
▐ Hamburg
▐ Hanover
▐ Hann. Münden
▐ Hedemünden
▐
▐
▐
▐
▐
▐
▐
▐
▐
▐
▐
Herzogenaurach
Hofheim
Karben
Korbach
Kohren-Salis
Moers
Northeim
Oedelsheim
Oppenweiler
Salzgitter
Waltershausen
China
Changchun
Changshu
▐ Changzhi
▐ Changzhou
▐ Hangzhou
▐ Ninghai
▐ Qingdao
▐ Shanghai
▐ Sanmen
▐ Tianjin
▐ Yanzhou
▐ Zhangjiagang
▐
▐
South Korea
▐ Cheonan
▐ Jeonju
▐ Yangsan
Norfolk
Porterdale
Rochester Hills
Somersworth
Spring Hope
St. Marys
Sun Prairie
Trumann
Japan
▐ Kurashiki
▐ Yokohama
Brazil
Americana
Macaé
▐ Ponta Grossa
▐ Santana de Parnaiba
India
▐ Kolkata
▐ Haryana
▐
▐
Venezuela
▐ Tinaquillo
South-Africa
▐ Uitenhage
Australia
Bayswater
▐
Chile
▐ Santiago de Chile
▐
Cooperation, Joint Ventures < 50%
156
© Continental AG
Fact Book 2015 | 86
VIII. ContiTech
Key Figures
(in € millions)
Sales
EBITDA
in % of sales
EBIT
in % of sales
2013
2014
2015
3,878.3
3,931.2
5,367.8
576.3
551.8
577.2
14.9
14.0
10.8
462.1
433.3
170.6
11.9
11.0
3.2
437.2
435.0
11.1
10.4
1,267.5
1,407.2
3,234.4
36.5
30.8
5.3
84.6
85.3
107.5
EBIT adjusted1
in % of sales1
ROCE
R, D & E expenses
in % of sales
Capex2
in % of sales
2
3
4
2,2
2,0
190.6
245.2
4.3
4.8
4.6
114.2
118.5
406.6
in % of sales
2.9
3.0
7.6
thereof impairment4
0.2
—
86.1
.1
2.2
166.0
157
VIII. ContiTech
Sales by Market
Other countries
7%
Other countries
8%
Germany
38%
Asia
14%
NAFTA
7%
Asia
17%
Germany
24%
Europe
(excluding
Germany)
34%
NAFTA
26%
Europe
(excluding
Germany)
25%
158
© Continental AG
Fact Book 2015 | 87
X
X
X
X
X
X
X
X
Food Industry
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
Occupational Safety
X
Rail Transport Technology
X
Shipbuilding and Ports
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
Printing Industry
X
X
X
X
X
Mining Industry
X
X
X
X
X
X
X
Vibration control technology
X
Vehicle interior soft trim
X
Special conveyor belts
X
Sealing elements/
moulded parts
X
Rubber Track
X
Printing blankets and plates
X
X
Insulation materials
X
X
Mechanical & Plant Engineering
Industrial composite materials
X
Compressors
Energy Industry
Hoses/hose line systems
X
Gas holder diaphragms
Comm. & Industry Vehicles/Buses
X
X
Floor coverings
X
X
X
Expansion Joints
Automotive Industry
X
Elastomer
compounds/sheetings
X
X
Drive belts
X
X
Diaphragms/diaphragm
materials
Concertina walls
X
Agriculture
Coupling elements
Collapsible containers/tanks
Aerospace Industry
Conveyor belts & service
materials
Air spring systems/
air actuators
VIII. ContiTech
Product Overview
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
159
Topics
I.
II.
15
25
47
60
VI. Market Data
69
3
82
VIII. Rubber Group
131
161
X. Glossary
170
160
© Continental AG
Fact Book 2015 | 88
Share Data / ADR Data
Share Data
Type of share
No-par value share
Bloomberg ticker
CON
Reuters ticker
CONG
German security identification number (WKN)
543 900
ISIN number
DE0005439004
Shares outstanding as at December 31, 2015
200,005,983
ADR Data1
1
Ratio (ordinary share : ADR)
1:5
Bloomberg ticker
CTTAY
Reuters ticker
CTTAY.PK
ISIN number
US2107712000
ADR level
Level 1
Exchange
OTC
Sponsor
Deutsche Bank Trust Company Americas
161
As at January 2016.
Share Price Development vs. Major Stock Indexes
,
1400%
,
1200%
,
1000%
800%
600%
400%
Continental
Source: Bloomberg, January 2016.
DAX
EURO STOXX 50
Jan-15
Jan-14
Jan-13
Jan-12
Jan-11
Jan-10
Jan-09
Jan-08
Jan-07
Jan-06
Jan-05
Jan-04
Jan-03
Jan-02
Jan-01
Jan-00
Jan-99
0%
Jan-98
200%
EURO STOXX Automobile & Parts
162
© Continental AG
Fact Book 2015 | 89
Common Stock
600
Number of shares (in mn)
Common stock (in € mn)
512
512
512
512
512
512
500
433
400
300
200
200
200
200
200
200
200
169
100
0
2009
2010
2011
2012
2013
2014
2015
163
Shareholder Structure
Asia,
Australia
and Africa
4,5%
Unidentified
6,7%
UK &
Ireland
29,8%
Free Float
54,0%
Shareholder structure
as at December 31, 2015
Schaeffler
Group
46,0%
US &
Canada
24,2%
Rest of
Europe
5,1%
Shareholder structure
of the free float
(93.3% identified)
as at December 31, 2015
Germany
13,0%
France
4,9% Scandinavia
5,2%
Germany
(retail) 6,6%
164
© Continental AG
Fact Book 2015 | 90
Bond Details
Issuer
Conti-Gummi Finance B.V.,
Netherlands1
Continental AG
Continental AG
Continental Rubber of
America, Corp.1
Issue
Senior Notes
Senior Notes
Senior Notes
Senior Notes
Principal amount
€750 mn
€750 mn
€750 mn
€500 mn
Offering price
99.595%
98.950%
99.228%
99.739%
Rating at issuance date
Ba1 (Moody’s4)
BB (S&P)
BBB (Fitch2)
Ba2 (Moody’s4)
BB (S&P)
BB (Fitch2)
Ba1 (Moody’s4)
BB (S&P)
BBB (Fitch2)
BBB (S&P)
BBB (Fitch)
Current corporation
and bond ratings3
1
2
3
4
BBB (Fitch), BBB (S&P), Baa1 (Moody’s4)
Coupon
2.5% p.a.
3.0% p.a.
3.125% p.a.
0.5% p.a.
Issue date
September 19, 2013
July 16, 2013
September 9, 2013
November 19, 2015
Maturity
March 20, 2017
July 16, 2018
September 9, 2020
February 19, 2019
Interest payment
Annual
March 20
Semi annual
January 16/July 16
Annual
September 9
Annual
February 19, commencing
on February 20, 2017
WKN
A1VC6B
A1X24V
A1X3B7
A1Z7C3
ISIN
XS0972719412
XS0953199634
XS0969344083
DE000A1Z7C39
Denomination
€1,000 with min. tradable
amount €1,000
amount €1,000
amount €1,000
amount €1,000
Guaranteed by Continental AG.
Non-contracted rating at date of issuance.
Fitch since July 15, 2013; S&P since December 6, 2013; Moodyʼs since June 30, 2015.
Non-contracted rating since February 1, 2014.
165
Development of the Bonds
February 22, 2016
114
112
(in %)
110
108
106
104
102
100
98
96
September 2013
2.5 % March 2017
Source: Bloomberg, February 2016.
September 2014
3.0 % July 2018
4.5 % Sept. 2019
September 2015
3.125 % Sept. 2020
0.5% Feb. 2019
166
© Continental AG
Fact Book 2015 | 91
Development of Continental’s Credit Rating
Standard & Poor’s 1
S&P, Fitch / Moody’s
Moody’s 2
Fitch 3
Investment
grade
BBB+ / Baa1
BBB / Baa2
BBB- / Baa3
Non-Investment
Grade
BB+ / Ba1
BB / Ba2
Before
Siemens
VDO
BB- / Ba3
B+ / B1
B / B2
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
1
Solicited rating since May 2000.
Non-contracted rating since Feb. 1, 2014.
3 Solicited rating since November 2013.
167
2
10 Year Financial Overview
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
in € millions
in € millions
in € millions
19,666.6
13,169.1
32,835.7
16,923.3
13,317.8
30,241.1
15,569.5
11,251.3
26,820.8
15,685.7
11,764.4
27,450.1
15,075.5
10,962.9
26,038.4
14,887.9
9,502.6
24,390.5
14,724.6
8,324.6
23,049.2
16,348.4
8,339.5
24,687.9
17,383.9
10,353.7
27,737.6
5,877.9
4,975.1
10,853.0
in € millions
in € millions
12,786.3
427.6
10,672.1
352.5
9,011.2
311.0
7,779.0
377.4
7,146.1
397.2
5,859.6
343.3
3,772.6
289.1
5,265.4
264.5
6,583.2
272.9
4,470.8
239.1
Total equity (incl. non-controlling)
Equity ratio1
in € millions
in %
13,213.9
40.2
11,024.6
36.5
9,322.2
34.8
8,156.4
29.7
7,543.3
29.0
6,202.9
25.4
4,061.7
17.6
5,529.9
22.4
6,856.1
24.7
4,709.9
43.4
Capital expenditure2
Net indebtedness
Gearing ratio
in € millions
in € millions
in %
2,178.8
3,541.9
26.8
2,045.4
2,823.5
25.6
1,981.1
4,289.3
46.0
2,019.4
5,319.9
65.2
1,711.3
6,772.1
89.8
1,296.4
7,317.0
118.0
860.1
8,895.5
219.0
1,595.2
10,483.5
189.6
896.9
10,856.4
158.3
805.0
1,181.0
25.1
in € millions
in %
in %
39,232
78.6
34,505.7
76.6
33,331.0
76.2
32,736.2
75.4
30,504.9
73.7
26,046.9
72.8
20,095.7
71.0
24,238.7
68.5
16,619.4
69.2
14,887.0
67.6
74.1
74.9
76.6
78.3
79.0
77.8
80.0
80.4
75.8
75.3
in %
in %
in %
in € millions
6.2
6.2
5.6
5.3
5.3
5.6
6.7
6.2
5.0
4.5
5.6
5.3
5.0
4.8
4.7
5.0
5.6
4.9
5.5
5.7
2.4
6,001.4
2.2
5,133.8
2.1
5,095.0
2.0
4,967.4
2.1
4,228.0
2.5
3,587.6
3.0
1,591.2
3.2
2,771.4
2.7
2,490.6
3.0
2,301.5
Balance sheet
Non-current assets
Current assets
Total assets
Shareholders' equity
(excl. non-controlling interests)
Non-controlling interests
Income statements
Sales
Share of foreign sales
Cost of sales3
Research and development expenses3
Selling expenses3
Administrative expenses3
EBITDA
EBITDA 3
in %
15.3
14.9
15.3
15.2
13.9
13.8
7.9
11.4
15.0
15.5
Personnel expenses
in € millions
in € millions
9,164.6
1,885.8
7,757.2
1,789.0
7,124.5
1,831.3
6,813.7
1,781.2
6,354.3
1,631.1
5,891.7
1,652.4
5,199.8
2,631.6
5,746.3
3,067.6
3,652.7
814.8
3,175.2
699.6
in € millions
2,727.4
2,375.3
1,923.1
1,905.2
1,242.2
576.0
-1,649.2
-1,123.5
1,020.6
981.9
in € millions
750.0
650.0
500.0
450.0
300.0
—
—
—
323.4
293.1
200
200.0
200.0
200.0
200.0
200.0
169.0
169.0
161.7
146.5
€
13.64
11.88
9.62
9.53
6.21
2.88
-9.76
-6.84
6.79
6.72
in thousands
204.7
186.0
175.4
169.0
159.7
133.4
148.4
93.9
81.6
Depreciation and amortization4
Net income attributable to the
shareholders of the parent
Dividend and earnings per share
Dividend for the fiscal year
Number of shares
at December 31
Net income (per share) attributable to the
shareholders of the parent
Employees
Annual average
in millions
1 Including
4
2
5
3
non-controlling interests.
As a percentage of sales.
6
142.7
Subject to the approval of the Annual Shareholders’ Meeting on April 30, 2015.
IAS 19 (revised 2011), Employee Benefits, has been applied since 2012.
168
© Continental AG
Fact Book 2015 | 92
Topics
I.
II.
3
15
25
47
60
VI. Market Data
69
82
VIII. Rubber Group
131
161
X. Glossary
170
169
X. Glossary
Financial Glossary
ADR
American Depositary Receipt
Capex
Capital expenditure on property, plant and equipment, and software
EBIT
Earnings Before Interest and Taxes
EBITDA
EBIT Before Depreciation and Amortization
EBIT margin
EBIT as a percentage of sales
EBITDA margin
EBITDA as a percentage of sales
FCF
Free Cash Flow. We define FCF as cash provided by operating activities minus cash used for investing
activities
Gearing ratio
Represents the net indebtedness divided by book value of equity, expressed as a percentage
ISIN
International Securities Identification Number
Net indebtedness
The net amount of interest-bearing financial liabilities as recognized in the statement of financial position,
cash and cash equivalents, the positive fair values of the derivative instruments as well as other interest
bearing investments.
NIAT
Net Income Attributable to the shareholders of the parent
OA
Operating assets are the assets less liabilities as reported in the balance sheet, without recognizing the net
indebtedness, discounted trade bills, deferred tax assets, income tax receivable and payable, as well as other
financial assets and debts.
PPA
Purchase Price Allocation
R, D & E expenses Research, Development and Engineering Expenses
ROCE (average)
Return On Capital Employed. We define ROCE as the ratio of EBIT to average operating assets for the fiscal
year
170
© Continental AG
Fact Book 2015 | 93
X. Glossary
Product and Division Glossary
ABS
Anti-Lock Brake System
LT
Light Truck
ACC
Adaptive Cruise Control
NVH
Noise Vibration Harshness
ADAS
Advanced Driver Assistance Systems
OCB
Optimized Curve Break
CAGR
Compound Annual Growth Rate
PC
Passenger Car
C&S
Chassis & Safety Division
PLT
Passenger and Light Truck Tires
CT
ContiTech Division
PT
Powertrain Division
CV
Commercial Vehicle
RV
Recreational Vehicle
CVT
SSR
Self-Supporting Runflat Tires
ECU
Electronic Control Unit
SUV
Sport Utility Vehicle
EBS
Electronic Brake System
TCS
Traction Control System
ESC
Electronic Stability Control
TPMS
Tire Pressure Monitoring System
HEV
Hybrid Electric Vehicle
HMI
Human Machine Interface
I
Interior Division
171
Contact Data
Vahrenwalder Str. 9
30165 Hanover
Germany
e-mail: [email protected]
www.continental-ir.com
Rolf Woller
Head of IR
Phone: +49 511 938 1068
Ingrid Kampf
Assistant to the Head of IR
Roadshow and Conference Organization
Phone: +49 511 938 1163
Fax: +49 511 938 1080
Michael Saemann
Analysts, Institutional Investors and Sustainability Investors
Phone: +49 511 938 1307
Klaus Paesler
Analysts, Institutional Investors, ADR and Private Investors
Phone: +49 511 938 1316
Sabine Reese
Sustainability, ASM, CMD Organization, IR Webpage,
Capital Market Disclosure Requirements
Phone: +49 511 938 1027
Henry Schniewind
Analysts, Institutional Investors
Phone: +49 511 938 1062
Marvin Kalberlah
Social Media
Phone: +49 511 938 14034
172
© Continental AG
Fact Book 2015 | 94
Investor Relations Online
IR Mobile
IR App
continental.ir-portal.de
@Continental_IR
Available since October 2014
Online since March 2016
173
Financial Calendar
2016
Preliminary figures for the fiscal year 2015
January 11, 2016
Annual Financial Press Conference
March 3, 2016
Annual Shareholders’ Meeting (incl. key data for Q1 2016)
April 29, 2016
Q1 Financial Report
May 4, 2016
Half Year Financial Report
August 3, 2016
Nine Month Financial Report
November 10, 2016
2017
Preliminary figures for the fiscal year 2016
January 2017
Annual Financial Press Conference
March 2017
Annual Shareholders’ Meeting (incl. key data for Q1 2017)
April 28, 2017
Q1 Financial Report
May 2017
Half Year Financial Report
August 2017
Nine Month Financial Report
November 2017
174
Continental Aktiengesellschaft
Investor Relations
P.O. Box 169, 30001 Hanover, Germany
Vahrenwalder Str. 9, Hanover, Germany
Phone +49 511 938-1163, Fax +49 511 938-1080
E-mail [email protected]
www.continental-ir.com
Official Sponsor of the UEFA European
Football Championship™

Fact Book 2015

Transcription

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