Breakingviews - Breakingviews - Continental dangles an autonomous carrot
. After a grueling pandemic, which saw revenue fall 15% in 2020, shareholders could expect at least a modest bump.
The unit which makes laser-scanning sensors and high-performance computers to help cars navigate on their own, is growing quickly as carmakers ramp up their bets on autonomous driving. Continental expects its total addressable market to double to 70 billion euros in the three years ending 2024 from the 2018 to 2020 period. Assume sales were to bounce back to 2019 levels in 2022, and then grow 22% over the next two years, in line with pre-crisis years, revenue could reach 3 billion euros by 2024.
is valued at 20 times sales, according to Refinitiv. On the other hand, a partial IPO could also leave the group saddled with a complexity discount.
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