5/18/2023 0 Comments Continental ag![]() Our goal is to finance ongoing investment requirements from the operating cash flow. For continuing operations in 2021, both the ROCE and the WACC amounted to 10%, hence no added value (CVC) was generated. We call this value added, produced by subtracting the WACC from the ROCE multiplied by average operating assets, the Continental Value Contribution (CVC). Value is added if the ROCE exceeds the weighted average cost of capital ( WACC). Based on the long-term average, the weighted average cost of capital for our company is about 10%. Borrowing costs are calculated based on Continental’s weighted debt-capital cost rate. Equity costs are based on the return from a risk-free alternative investment plus a market risk premium, taking into account Continental’s specific risk. The weighted average cost of capital (WACC) is calculated to determine the cost of financing the capital employed. The ROCE for the continuing operations of Continental amounted to 10.0% in 2021. We deal with the problem of the different periods of analysis by calculating the capital employed as an average figure over the ends of quarterly reporting periods. Comparing a figure from the statement of income (EBIT) with one from the statement of financial position (capital employed) produces an integral analysis. The return on capital employed ( ROCE) represents the ratio of these two calculated values. In 2021, average operating assets from continuing operations amounted to €18.4 billion. At Continental, this figure is calculated as the average of operating assets as at the end of the quarterly reporting periods. In the year under review, EBIT from continuing operations amounted to €1.8 billion.Ĭapital employed is the funds used by the company to generate its sales. The performance indicators used are EBIT, capital employed, and the weighted average cost of capital (WACC), which is calculated from the proportional weight of equity and debt costs.ĮBIT is the net total of sales, other income and expenses plus income from equity-accounted investees and from investments but before financial result and income tax expense. This can be achieved by increasing the return on capital employed (with the costs of capital remaining constant), lowering the costs of capital (while maintaining the return on capital employed), or decreasing capital employed over time. It is also crucial that the absolute contribution to value ( Continental Value Contribution, CVC) increases year for year. At the same time, this return must always exceed the equity and debt financing costs of acquiring the operating capital. This goal is achieved by generating a positive return on the capital employed in each respective business unit. Our corporate objectives center on the sustainable enhancement of the value of each individual business unit. To allow us to use the financial performance indicators for management purposes as well, and to map the interdependencies between these indicators, we summarize them as key figures as part of a value-driver system. Key financial performance indicators are the adjusted EBIT margin, capital employed, as well as the amount of capital expenditure and free cash flow. Value management at Continental is focused on value creation through profitable sales growth. With approximately 164,000 employees in 46 countries, the Continental Corporation is divided into the Automotive Group and the Rubber Group, and consits of five divisions Chassis & Safety, Powertrain, Interior, Tires, and ContiTech.Īfter a three year lean period Continental has paid dividends in each of the past two years and is set to pay a dividend of 225 euro cents for 2012.The goal is the sustained increase in the Continental Group’s value. Continental is also an expert partner in networked automobile communication. As a supplier of brake systems, systems and components for powertrains and chassis, instrumentation, infotainment solutions, vehicle electronics, tires and technical elastomers, Continental contributes to enhanced driving safety and global climate protection. We want to make individual mobility safer, more comfortable, and more sustainable through forward-looking products and services.Ĭontinental was founded in Hanover in 1871 and is currently one of the five largest automotive suppliers in the world. With sales of EUR 30.5 billion in 2011, Continental is among the leading automotive suppliers worldwide. ![]() They also manufacture products for machine engineering, mining, furniture, and print industries. Continental is in the automotive industry, specializing in brake and tyre technology, vehicle control systems, and electronic systems.
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5/18/2023 0 Comments Turbo download manager 4.36This is an example where there is a strong interaction between the propeller and airframe that affects performance, stability, and control, and contains various interaction mechanisms that are of interest for other configurations as well. ![]() ![]() The first configuration features propellers that are mounted to the horizontal tailplane. Finally, two detailed studies on aircraft level demonstrate the relative importance and the coupling between aerodynamic interactions. Second, a configuration study indicates the expected trends on various performance indicators. First, fundamental phenomena are investigated which provide insight for related configurations and derivatives thereof. To this end, three different types of analyses are performed. The objective of this dissertation is: to characterize the role of the aerodynamic interaction between the propeller and the airframe on the performance and static stability characteristics for selected aircraft configurations which aim for a beneficial propeller-airframe interaction. The closer proximity of the propeller and airframe requires a more dedicated integral design (approach) of both the airframe and propulsion unit. Furthermore, by employing the aerodynamic interaction in specific phases of the flight, beneficial propulsion integration can also enable the use of alternative energy sources and increase the electrification level of the propulsion system. The objectives of unconventional propeller installations include the enhancement of the airframe aerodynamic efficiency, increasing the propeller efficiency, improving cabin comfort, and improving the overall aircraft design by lower operating empty weight. It is envisioned that the future generations of regional and short to medium-range aircraft employ a high level of propeller integration to achieve low-emission flight. Furthermore, the synthesis and successful test of a computationally efficient aeroelastic optimizationįramework using the harmonic-balance method is also presented and discussed. The results reported in part II of this thesis show that a CAD-based blade parametrization approach increases the robustness of adjoint-based optimization methods. Besides, it also highlights that the symmetric configuration of supersonic vanes provides superior o�-design performance in comparison to the asymmetric configuration. One outcome of this research, described in part I of this dissertation, is a novel supersonic vane design method which generates geometries with higher fluid-dynamic performance and flow uniformity if compared to those obtained from computationally expensive fluid dynamics optimization methods. Specifically, a supersonic vane design method in part I and an adjoint-based optimization framework in part II. Turbomachines affected by strong non-uniform flows. This dissertation presents research on two automated CFD-based design methods for To overcome these shortcomings, two strategies can be adopted: first, the non-uniform loading of the blades must be reduced and, second, the mechanical structure must be made optimally strong to withstand these loads without other detrimental effects. For these machines, not only the fluid dynamic effciency can be unsatisfactory, but they also suffer from poor structural performance. Unconventional turbomachines which can greatly benefit from such methodological advancements are those whose performance is penalized by inherently non-uniform flows, like, for example, supersonic turbines and boundary-layer-ingestion fans. These methods lay the foundation stone for a more holistic multi-disciplinary design of The quick and optimum realization of the needed unconventional turbomachines. ![]() These methods will increasingly allow for Turbomachinery applications are now available. Thanks to the recent advancements in numerical methods and availability of high-performance computational resources, advanced automated design methods tailored to Hence, novel and disruptive design methods are pivotal to achieve a paradigm shift in turbomachinery performance across all energy technology platforms. operation under highly non-uniform flow or with novel fluids, make the available design methods insuffciently capable of providing effcient designs. However, the specific requirements of these turbines and compressors, e.g. Key enablers of conventional and future renewable energy conversion technologies are turbomachines. The urgent need to transition to a climate-neutral society requires rapid developmentĪnd adoption of renewable technologies. |