Shares up nearly 8% (Il Sole 24 Ore Radiocor) - Frankfurt, 04 Jul - Shares in Continental were sharply higher after the the German tyre and auto component manufacturer released guidance that eased concern about its future profitability.

At 0958 GMT, Continental was up 7.94% at 58.18 euros.

In a presentation, the company said that in 2024 it expects to post sales of 41-44 billion euros, an adjusted EBIT margin of 6.0-7.0% and an adjusted free cash flow of 0.7-1.1 billion euros.

In the short term, the company anticipates annual revenue of 44-48 billion euros and an adjusted EBIT margin of over 8%.

In the mid term, it forecast revenue of 51-56 billion euros and an adjusted EBIT margin of 8-11%.

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(RADIOCOR) 04-07-24 12:05:16 (0295) 5 NNNN