BERLIN, June 24 (Reuters) - Continental's
automotive division, set to go public in September under the
name Aumovio, hopes to boost sales by 22% in the long term as it
sharpens its focus on technologies that add value to the
carved-out company, it said on Tuesday.
Continental said Aumovio is targeting a long-term increase
in sales to over 24 billion euros ($28 billion) compared with
19.6 billion euros last year, and an adjusted EBIT margin in the
range of 6-8%.
"We have a clear strategy for increasing value and are well
equipped to take on the market challenges that lie ahead,"
Aumovio CEO Philipp von Hirschheydt said, giving a strategy
update at the group's capital markets day.
On the auto business's exposure to U.S. President Donald
Trump's tariffs, which have panicked German carmakers and their
suppliers, von Hirschheydt told reporters 92% of its products
are produced in the United States or Mexico, meaning they are
exempt.
"For many years, we have tried to produce very closely to
where our buyers and customers are located," he added.
($1 = 0.8621 euros)
(Reporting by Rachel More, editing by Thomas Seythal)