new delhi german automotive auto parts manufacturer continental on tuesday reported a net loss of eur 251 million in the second quarter of 2022 q2 2021 eur 545 million for continuing and discontinued operationshowever the consolidated sales of eur 94 billion in q2 fy 22 q2 2021 eur 84 billion up 130 meanwhile the adjusted ebit stood at eur 411 million q2 2021 eur 512 million 198 while the adjusted ebit margin was at 44 q2 2021 62adjusted ebit for the past quarter was above the reported ebit of eur 165 million this was primarily attributable to accounting effects of around eur 370 million that had to be taken into account in the automotive group sector as a result of higher interest rates advt in connection with its business activity in russia continental also impaired assets of around eur 75 million as a result of the additional sanctions imposed furthermore there were restructuring expenses of eur 63 million in the contitech group sector in the second quarter of 2022 primarily for the mobile fluid systems business area as a result of the transformation of certain production sites communicated at the end of june 2022the market environment remained extremely challenging for automotive suppliers in the second quarter at the same time we are making significant progress in the development and marketing of our technologies with a strong order intake in automotive this shows that we have the right strategy and positioning our most recent mobility study also supports this said nikolai setzer ceo continentalin the months of april to june 2022 global automotive production was on par with the comparably weak second quarter of the previous year when the semiconductor shortage first really made itself felt the production of passenger cars and light commercial vehicles was down in the second quarter of 2022 particularly in china as a result of the temporary lockdowns imposed in many cities because of the pandemic 54 million units 58 europe also recorded a weaker second quarter due to disrupted supply chains 38 million units 54 in north america however the production of passenger cars and light commercial vehicles was up against the very weak prioryear period 36 million units 116 according to preliminary figures the global production of passenger cars and light commercial vehicles stagnated compared with the second quarter of 2021 at a total of 188 million units q2 2021 188 million units advt outlookthe current headwind is rather like a hurricane and will not subside any time soon given this environment we have performed well and become more resilient we cannot be entirely satisfied with our current business results even if they are as expected but we are optimistic for the second half of the year we anticipate a rise in automotive production and our measures to improve earnings are also taking effect we are therefore maintaining our outlook for the current fiscal year said katja drrfeld cfo continental in the second half of the year continental anticipates a stabilization