Continental AG: Q2-26 preview: Another strong quarter in Tires

研报英文原文证据摘录

Continental AG: Q2-26 preview: Another strong quarter in Tires

Deutsche Bank

Research

Rating Company Date

Buy Continental AG 2 July 2026

Forecast Change

Europe

Germany

Reuters Bloomberg Exchange Ticker Price at 30 Jun 2026 (EUR) 72.16

CONG.DE CON GR GER CONG

Price Target (EUR) 75.00

Autos

ADR ISIN 52-week range (EUR) 78.38 - 53.84

Tires

CTTAY US2107712000

Q2-26 preview: Another strong quarter

Valuation & Risks in Tires

Christoph Laskawi

Q2-26 report due on August 4, 2026 Research Analyst

Continental is set to report Q2-26 results on August 4 before the market open and +49-69-910-31924

will host a conference call the same day. While we see the Q2-26 numbers as a

Tim Rokossa

potential positive catalyst, as they should showcase strong operational execution Head of European Equity Research

in the Tires business, the catalyst in focus remains the ContiTech disposal for which +49-69-910-31998

an announcement is expected mid-year. We see the transaction on track and model

Nicolai Kempf

an EV of about EUR4bn in our valuation. Driven by a strong performance in Tires and

Research Analyst

raising our forecasts, we lift our target price to EUR75.

+49-162-5168792

Nikita Papaccio

Q2-26 preview in more detail: price/mix remains key driver

For Q2-26, we model Tires to show another strong quarter on earnings in particular. +49-69-910-48637

With regards to the top line, we model negative volumes and FX, which is not fully

offset by strong price/mix, which should be largely product and channel mix. With Mira Wiegratz

Research Associate

regards to earnings, we expect raw materials should still account for a double-digit

+49-69-9103-1733

EURm positive in Q2-26, and increased costs from the Middle East situation are

expected to be mostly offset through mitigation measures.