Earnings Position
- Sales down 2.0%
- Sales up 0.8% before changes in the scope of consolidation and exchange-rate effects
- Adjusted EBIT down 8.0%
The following table shows the figures for continuing operations in the reporting and comparative periods.
| Continental Group in € millions | 2025 | 2024 | Δ in % |
| Sales | 19,676 | 20,077 | –2.0 |
| EBITDA | 1,858 | 3,154 | –41.1 |
| in % of sales | 9.4 | 15.7 | |
| EBIT | 272 | 2,043 | –86.7 |
| in % of sales | 1.4 | 10.2 | |
| Depreciation and amortization1 | 1,586 | 1,111 | 42.7 |
| thereof impairment2 | 514 | 7 | 7,448.7 |
| Capital expenditure3 | 1,316 | 1,251 | 5.2 |
| in % of sales | 6.7 | 6.2 | |
| Operating assets as at Dec. 31 | 9,545 | 10,320 | –7.5 |
| Operating assets (average) | 10,499 | 10,532 | –0.3 |
| ROCE in % | 2.6 | 19.4 | |
| Number of employees as at Dec. 314 | 92,653 | 97,418 | –4.9 |
| Adjusted sales5 | 19,666 | 20,066 | –2.0 |
| Adjusted operating result (adjusted EBIT)6 | 2,035 | 2,212 | –8.0 |
| in % of adjusted sales | 10.3 | 11.0 | |
| Free cash flow | 967 | 603 | 60.6 |
1 Excluding impairment on financial investments.
2 Impairment also includes necessary reversals of impairment losses.
3 Capital expenditure on property, plant and equipment, and software.
4 Excluding trainees.
5 Before changes in the scope of consolidation.
6 Before amortization of intangible assets from purchase price allocation (PPA), changes in the scope of consolidation, and special effects.
The following table shows the figures for continuing and discontinued operations in the reporting and comparative periods.
| Continuing and discontinued operations in € millions | 2025 | 2024 | Δ in % |
| Sales | 33,090 | 39,719 | –16.7 |
| EBITDA | 2,532 | 4,498 | –43.7 |
| in % of sales | 7.7 | 11.3 | |
| EBIT | 723 | 2,287 | –68.4 |
| in % of sales | 2.2 | 5.8 | |
| Net income attributable to the shareholders of the parent | –165 | 1,168 | –114.1 |
| Basic earnings per share in € | –0.83 | 5.84 | –114.1 |
| Diluted earnings per share in € | –0.83 | 5.84 | –114.1 |
| Capital expenditure1 | 1,752 | 2,204 | –20.5 |
| in % of sales | 5.3 | 5.5 | |
| Free cash flow | 775 | 1,114 | –30.4 |
1 Capital expenditure on property, plant and equipment, and software.
Business and sales performance
Consolidated sales fell by €401 million or 2.0% year-on-year in 2025 to €19,676 million (PY: €20,077 million). Before changes in the scope of consolidation and exchange-rate effects, sales increased organically by 0.8%. Exchange-rate effects dented sales performance by €562 million, while changes in the scope of consolidation had only a negligible impact.
In the Tires group sector, growth in the global replacement markets for passenger-car tires and continued positive mix effects in sales were more than offset by negative exchange-rate effects coupled with weak demand in the original-equipment business for passenger cars and in the truck-tire segment. Sales therefore decreased slightly by 0.5%, despite organic sales growth of 2.4%.
In the ContiTech group sector, negative exchange-rate effects combined with the downtrend in the automotive original-equipment business in Europe and North America and persistently weak markets, particularly in the industrial segment and in the commercial-vehicle and off-highway businesses, likewise depressed sales.
Sales from discontinued operations until the spin-off of the former Automotive and Contract Manufacturing group sectors amounted to €13,415 million, compared with the prior-year figure of €19,642 million for the full 2024 fiscal year. For continuing and discontinued operations, sales thus totaled €33,090 million (PY: €39,719 million).
The regional distribution of sales in 2025 was as follows:
| Sales by region in % | 2025 | 2024 |
| Germany | 14 | 14 |
| Europe excluding Germany | 35 | 35 |
| North America | 29 | 30 |
| Asia-Pacific | 16 | 16 |
| Other countries | 6 | 6 |
Adjusted EBIT
Adjusted EBIT for the Continental Group fell by €177 million or 8.0% year-on-year in 2025 to €2,035 million (PY: €2,212 million), corresponding to 10.3% (PY: 11.0%) of adjusted sales.
EBIT
EBIT was down by €1,771 million year-on-year in 2025 to €272 million (PY: €2,043 million), a decrease of 86.7%. The return on sales fell to 1.4% (PY: 10.2%), with the cost of sales likewise decreasing by €207 million to €14,565 million (PY: €14,772 million) in line with lower sales. The operating result was heavily encumbered by expenses in connection with the deconsolidation of foreign companies of the former Automotive and Contract Manufacturing group sectors and the valuation of the OESL disposal group, as well as by restructuring expenses. Higher US import tariffs and exchange-rate effects, particularly in the Tires group sector, as well as the persistently weak industrial environment in the ContiTech group sector also had a negative impact.
EBIT from discontinued operations was €451 million (PY: €244 million), resulting in total EBIT for continuing and discontinued operations of €723 million (PY: €2,287 million), with a return on sales of 2.2% (PY: 5.8%).
The amortization of intangible assets from purchase price allocation (PPA) reduced the EBIT of the Continental Group’s continuing operations by €45 million in the reporting year (PY: €54 million).
The ROCE was 2.6% (PY: 19.4%).
Special effects in 2025
Total consolidated expense from special effects in 2025 amounted to €1,718 million. Tires accounted for €89 million of this, ContiTech for €832 million and the holding for €797 million.
The valuation of the OESL disposal group resulted in impairment on goodwill of €124 million, impairment on other intangible assets and property, plant and equipment of €367 million and other expenses of €71 million.
In addition, Tires recorded impairment on property, plant and equipment of €8 million and ContiTech of €1 million, while the holding recognized impairment on other intangible assets of €3 million, resulting in total impairment on property, plant and equipment and other intangible assets of €379 million. These figures do not include impairment and reversals of impairment losses that arose in connection with restructuring.
Severance payments resulted in a special effect totaling €73 million (Tires €16 million; ContiTech €36 million; holding €21 million).
The Tires group sector incurred restructuring expenses of €55 million, including impairment on property, plant and equipment in the amount of €8 million. There was also income in connection with restructuring totaling €1 million.
The ContiTech group sector incurred restructuring expenses of €197 million, including impairment on property, plant and equipment in the amount of €3 million. There was also income in connection with restructuring totaling €5 million.
At the level of the holding, there were further restructuring expenses of €1 million.
Restructuring-related expenses resulted in an expense of €13 million (Tires €9 million; ContiTech €4 million).
Gains and losses from disposals of companies and business operations at the level of the holding mainly include losses in connection with the deconsolidation of foreign companies of the former Automotive and Contract Manufacturing group sectors in the amount of €680 million. The Tires group sector also incurred expenses of €1 million in connection with the sale of certain operations in the Replacement EMEA business area.
Expenses of €34 million arose for the ContiTech group sector in connection with the Original Equipment Solutions (OESL) business area being made organizationally independent.
At the level of the holding, the spin-off of the former Automotive and Contract Manufacturing group sectors led to expenses of €40 million, and measures to make the ContiTech group sector organizationally independent led to expenses of €17 million.
The spin-off of the former Automotive and Contract Manufacturing group sectors triggered the dissolution of a tax group, which in turn led to expenses of €12 million at the level of the holding. Provisions of €22 million were also set aside for reimbursements to Aumovio, as per the conditions of the corporate separation agreement.
The liquidation of a company resulted in expenses of €4 million (ContiTech €3 million, holding €1 million).
Special effects in 2024
Total consolidated expense from special effects in 2024 amounted to €114 million. Tires accounted for €27 million of this, ContiTech for €85 million and the holding for €3 million.
Impairment on property, plant and equipment led to expenses totaling €2 million (Tires €0 million; ContiTech €1 million). These figures do not include impairment and reversals of impairment losses that arose in connection with restructuring.
The Tires group sector incurred restructuring expenses of €4 million, including impairment on property, plant and equipment in the amount of €2 million. In addition, the reversal of restructuring provisions resulted in income of €9 million.
The ContiTech group sector incurred restructuring expenses of €32 million, including impairment on property, plant and equipment in the amount of €3 million. In addition, the reversal of restructuring provisions resulted in income of €20 million.
Restructuring-related expenses resulted in an expense totaling €23 million (Tires €21 million; ContiTech €2 million).
Severance payments resulted in a negative special effect totaling €49 million (Tires €10 million; ContiTech €41 million). The reversal of provisions additionally generated income of €1 million at the level of the holding.
The sale of certain operations in the Replacement EMEA business area resulted in expenses of €3 million.
A company acquisition in the Tires group sector resulted in income of €1 million.
In the ContiTech group sector, the Original Equipment Solutions business area was made organizationally independent. This resulted in expenses of €29 million.
The spin-off of the Automotive and Contract Manufacturing group sectors led to expenses of €4 million for the holding.
Procurement
After a period of elevated raw material prices at the beginning of the year coupled with increased costs resulting from import tariffs introduced in the USA, the prices for numerous raw materials fell in the second half of 2025, easing the pressure on the Tires and ContiTech group sectors.
Reconciliation of EBIT to net income
| € millions | 2025 | 2024 | Δ in % |
| Tires | 1,776 | 1,870 | –5.1 |
| ContiTech | –556 | 259 | –314.9 |
| Other/Holding/Consolidation | –948 | –86 | –1,003.3 |
| EBIT | 272 | 2,043 | –86.7 |
| Financial result | –303 | –287 | –5.4 |
| Earnings before tax from continuing operations | –31 | 1,756 | –101.7 |
| Income tax expense | –384 | –398 | 3.3 |
| Earnings after tax from continuing operations | –415 | 1,358 | –130.5 |
| Earnings after tax from discontinued operations | 280 | –159 | 276.3 |
| Net income | –135 | 1,200 | –111.2 |
| Non-controlling interests | –30 | –32 | 5.0 |
| Net income attributable to the shareholders of the parent | –165 | 1,168 | –114.1 |
Reconciliation of sales to adjusted sales and of EBITDA to adjusted operating result (adjusted EBIT) in 2025
| € millions | Tires | ContiTech | Other/
Holding/ Consolidation |
Continental Group |
| Sales | 13,798 | 6,005 | –127 | 19,676 |
| Changes in the scope of consolidation1 | — | –9 | — | –9 |
| Adjusted sales | 13,798 | 5,995 | –127 | 19,666 |
| EBITDA | 2,595 | 195 | –932 | 1,858 |
| Depreciation and amortization2 | –819 | –751 | –16 | –1,586 |
| EBIT | 1,776 | –556 | –948 | 272 |
| Amortization of intangible assets from purchase price allocation (PPA) | 4 | 41 | — | 45 |
| Changes in the scope of consolidation1 | 0 | 0 | 0 | 0 |
| Special effects | ||||
| Impairment on goodwill3 | — | 124 | — | 124 |
| Impairment4 | 8 | 368 | 3 | 379 |
| Restructuring5 | 55 | 192 | 1 | 248 |
| Restructuring-related expenses | 9 | 4 | — | 13 |
| Severance payments | 16 | 36 | 21 | 73 |
| Gains and losses from disposals of companies and business operations6 | 1 | — | 680 | 681 |
| Other7 | — | 108 | 92 | 199 |
| Adjusted operating result (adjusted EBIT) | 1,870 | 316 | –151 | 2,035 |
1 Changes in the scope of consolidation include additions and disposals as part of share and asset deals. Adjustments are made for additions in the reporting year and for disposals in the comparative period of the prior year.
2 Excluding impairment on financial investments.
3 Impairment on goodwill relates to impairment in connection with the valuation of the OESL disposal group in the amount of €124 million.
4 Impairment also includes necessary reversals of impairment losses. It mainly comprises impairment on other intangible assets and property, plant and equipment in the amount of €367 million in connection with the valuation of the OESL disposal group. It does not include impairment that arose in connection with a restructuring and impairment on financial investments and goodwill.
5 Includes restructuring-related impairment losses totaling €11 million (Tires €8 million; ContiTech €3 million).
6 Gains and losses from disposals of companies and business operations mainly include losses in connection with the deconsolidation of foreign companies of the former Automotive and Contract Manufacturing group sectors in the amount of €680 million.
7 Mainly includes expenses in connection with the spin-off of the former Automotive and Contract Manufacturing group sectors, the plans to make the ContiTech group sector organizationally independent, and the valuation and sale of the OESL disposal group. Also includes expenses in connection with reimbursements to Aumovio and in connection with the dissolution of a tax group.
Reconciliation of sales to adjusted sales and of EBITDA to adjusted operating result (adjusted EBIT) in 2024
| € millions | Tires | ContiTech | Other/
Holding/ Consolidation |
Continental Group |
| Sales | 13,861 | 6,387 | –171 | 20,077 |
| Changes in the scope of consolidation1 | –11 | — | — | –11 |
| Adjusted sales | 13,850 | 6,387 | –171 | 20,066 |
| EBITDA | 2,663 | 562 | –70 | 3,154 |
| Depreciation and amortization2 | –792 | –303 | –16 | –1,111 |
| EBIT | 1,870 | 259 | –86 | 2,043 |
| Amortization of intangible assets from purchase price allocation (PPA) | 6 | 48 | — | 54 |
| Changes in the scope of consolidation1 | 0 | — | 0 | 0 |
| Special effects | ||||
| Impairment on goodwill | — | — | — | — |
| Impairment3 | 0 | 1 | — | 2 |
| Restructuring4 | –5 | 11 | — | 6 |
| Restructuring-related expenses | 21 | 2 | — | 23 |
| Severance payments | 10 | 41 | –1 | 49 |
| Gains and losses from disposals of companies and business operations | 3 | — | — | 3 |
| Other5 | –1 | 29 | 4 | 32 |
| Adjusted operating result (adjusted EBIT) | 1,903 | 392 | –83 | 2,212 |
1 Changes in the scope of consolidation include additions and disposals as part of share and asset deals. Adjustments are made for additions in the reporting year and for disposals in the comparative period of the prior year.
2 Excluding impairment on financial investments.
3 Impairment also includes necessary reversals of impairment losses. It does not include impairment that arose in connection with a restructuring and impairment on financial investments and goodwill.
4 Includes restructuring-related impairment losses of €5 million (Tires €2 million; ContiTech €3 million).
5 Mainly includes expenses in connection with the OESL business area being made organizationally independent.
Research and development
Research and development expenses rose by €27 million year-on-year to €579 million (PY: €552 million). Of this total, €359 million (PY: €349 million) was attributable to the Tires group sector and €220 million (PY: €203 million) to the ContiTech group sector. Due to the spin-off of the former Automotive and Contract Manufacturing group sectors, and the research and development expenses for the Continental Group as a whole becoming much less relevant as a result, reporting on research and development expenses (net) – which deducted reimbursements and subsidies related to research and development expenses – was discontinued in the reporting year.
Depreciation and amortization
Depreciation and amortization increased by €475 million to €1,586 million (PY: €1,111 million), equivalent to 8.1% of sales (PY: 5.5%). It included impairment totaling €514 million in 2025 (PY: €7 million), mainly due to impairment in connection with the valuation of the OESL disposal group.
Financial result
The negative financial result increased by €16 million year-on-year to €303 million in 2025 (PY: €287 million).
Interest income rose by €15 million year-on-year to €77 million (PY: €62 million).
Interest expense totaled €352 million in 2025 and was thus €13 million lower than the previous year’s figure of €365 million. Interest expense from long-term employee benefits and expected income from long-term employee benefits and from pension funds amounted to a net expense of €48 million in the reporting year (PY: €44 million). These interest effects do not include the interest income from the plan assets of the pension contribution funds or the interest expense from the defined benefit obligations of the pension contribution funds. Interest expense, resulting mainly from bank borrowings, capital market transactions and other financing instruments, was €304 million (PY: €321 million). Interest expense on lease liabilities accounted for €21 million of this (PY: €20 million). The bonds issued led to expenses of €140 million (PY: €111 million). Interest expense in connection with the utilization of the syndicated loan totaled €21 million (PY: €32 million).
Effects from currency translation resulted in a negative contribution to earnings of €40 million in the reporting year (PY: positive contribution to earnings of €48 million). Effects from changes in the fair value of derivative instruments, and other valuation effects resulted in income of €12 million (PY: expenses of €32 million). Of this, other valuation effects accounted for expenses of €10 million (PY: income of €4 million). Taking into account the sum of the effects from currency translation and changes in the fair value of derivative instruments, earnings in 2025 were negatively impacted by €18 million (PY: positively impacted by €12 million).
Income tax expense
Income tax expense in fiscal 2025 amounted to €384 million (PY: €398 million). The tax rate was 52.0%, compared with 22.6% in the previous year. The current-year tax rate was adjusted for the permanent effects resulting from the impairment recognized on goodwill and the deconsolidation of foreign companies of the former Automotive and Contract Manufacturing group sectors.
As in the previous year, foreign tax rate differences as well as incentives and tax holidays had positive effects in the year under review. Conversely, the tax rate was negatively impacted by non-cash allowances on deferred tax assets totaling €49 million (PY: €212 million), of which €4 million (PY: €243 million) was for previous years. Furthermore, as in the previous year, the tax rate was negatively affected by non-deductible expenses and non-imputable foreign withholding taxes of €181 million (PY: €177 million). In the year under review, there was further tax relief from local income taxes with a different tax base and the reversal of provisions for minimum tax regulations, while additional tax burdens arose from prior-year taxes and effects from changes in tax rates.
Net income attributable to the shareholders of the parent
Net income attributable to the shareholders of the parent decreased by €1,333 million in 2025 to ‑€165 million (PY: €1,168 million). Basic earnings per share amounted to ‑€0.83 (PY: €5.84), while basic earnings per share from continuing operations amounted to ‑€2.10 (PY: €6.72). The figures for basic earnings per share were the same as for diluted earnings per share.
Employees
The number of employees in the Continental Group as at December 31, 2025, was 92,653, down 4,765 from 97,418 in the previous year.
The number of employees in the Tires group sector fell by 882. This was primarily due to adjustments to demand-driven production.
In the ContiTech group sector, adjustments to production volumes led to a reduction in the number of employees by 3,207.
| Employees by region in % | 2025 | 2024 |
| Germany | 21 | 21 |
| Europe excluding Germany | 37 | 36 |
| North America | 19 | 19 |
| Asia-Pacific | 16 | 16 |
| Other countries | 8 | 8 |
