UPDATE 1-Continental AG sees slowing growth in 2016

lunes 11 de enero de 2016 03:51 GYT

* Sees 2016 sales increase 5 pct vs 14 pct in 2015

* Adjusted EBIT rises 14 pct to 4.4 bln eur in 2015

* Europe, USA help offset slower China, Russia, Brazil (Adds details on profit, regions, cars)

FRANKFURT, Jan 11 (Reuters) - German auto parts and tyre maker Continental expects slowing growth this year after meeting its targets for 2015 sales and adjusted operating profit, it said on Monday.

Continental said it expected a sales increase of around 5 percent after a 14 percent jump to about 39.2 billion euros ($42.8 billion) in 2015, in line with forecasts.

Adjusted earnings before interest and tax (EBIT) also rose about 14 percent to 4.4 billion euros or 11.7 percent of sales.

"Market growth in Europe and the USA helped us to compensate for slower growth in China, major recessions in Russia and Brazil, and the decline in industrial business, particularly in the raw materials sector," said Chief Executive Elmar Degenhart.

"We aim to maintain our adjusted EBIT margin again at more than 10.5 percent," he said in a statement.

Continental said it expected global production of passenger cars and light commercial vehicles to increase slightly this year to 89 million from 88 million in 2015.

($1 = 0.9164 euros) (Reporting by Georgina Prodhan; Editing by Christoph Steitz and Maria Sheahan)