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Hanover (dpa) - At the automotive supplier Continental, the shareholders will join forces for the online general meeting today, Thursday.
In addition to the dividend, which should be canceled this time due to the corona situation, among other things, the formal decision to split off the drive division of the Dax group and spin it off into the Vitesco company.
This “spin-off” has already been prepared and planned for the second half of the year.
The new shares are to be posted directly to the Conti shareholders in the depot.
The drive technology for combustion engines and e-cars, which has been separated from the core division, recently increased, with sales growing by 12.8 percent on an adjusted basis in the first quarter.
Continental itself wants to concentrate more on sensors, software and electronics in the future.
The overall figures also developed a little better again, after the tough pandemic year 2020, a cautious recovery set in.
Looking at the coming months, however, Conti pointed to numerous risks that could continue to depress business - including the semiconductor shortage and rising raw material costs.
© dpa-infocom, dpa: 210428-99-390649 / 2