Continental to spin-off Automotive group

Following on from a previous report here, the executive board at Continental has now decided to spin-off the Automotive group sector.

Subject to the approval of the supervisory board next March , the spin-off is expected to take place by the end of 2025.

Continental says the preparations for it are to be completed by the end of the third quarter of 2025.

Philipp von Hirschheydt, head of the Automotive group sector said: “Our continuous performance improvements form the crucial foundation for making Automotive fit for the future and ready for the capital market. We are rigorously implementing all the measures necessary to achieve this.”

While preparing for the Automotive spin-off, Continental continues to strengthen the independence of its Tires and ContiTech group sectors.

“We have set up our group sectors as strong, self-sufficient units with clear structures. The group sectors are leading players in their product segments and markets. They have matured and are ready for greater independence,” said Nikolai Setzer, CEO of Continental.

“We remain fully focused on spinning off Automotive and achieving greater independence for our profitable Tires and ContiTech group sectors. And central to this is the gradual transfer of parts of the group-level services and functions to the group sectors,” Setzer added.