Continental reported a 12.7% drop in group sales, citing falling revenue in its Automotive, Rubber and Powertrain divisions.
Its net loss attributable to shareholders narrowed to 962 million euros ($1.14 billion) in 2020, compared with a 1.23 billion euro loss the previous year, thanks to heavy costs cuts and restructuring measures.
The firm, which saw positive organic sales growth for the first time in the fourth quarter, also said it expects increased order intake this year, and its operating loss to shrink in 2021 from 2020.
The company expects to arrive to a sustainable operating profit and positive free cash flow during 2023.