Continental expects 100 million euro hit from Iran war
Continental expects the Iran war to impact tyre margins as oil prices rise. Shares rose after first-quarter earnings beat the analyst consensus estimates.
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CONTINENTAL AG expects a minimum 100 million euro hit from the Iran war starting in the second quarter.
The Germany-based supplier faces rising raw material costs for its tire division as oil prices surge. The impact highlights the vulnerability of European auto parts makers to geopolitical shocks and energy volatility.
