Volkswagen AG

  • WKN: 766403
  • ISIN: DE0007664039
  • Land: Germany

Nachricht vom 20.07.2016 | 11:05

VOLKSWAGEN AG: The Operating Result for the Volkswagen Group before special items is significantly higher than market expectations for the first half of 2016.


VOLKSWAGEN AG  / Key word(s): Miscellaneous

20.07.2016 11:05

Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


The Group Operating Result before special items for the first six months is EUR7.5bn despite the ongoing economic impact from the Diesel issue. In addition, Special Items, totaling a negative EUR2.2bn, mainly related to further legal risks predominately arising in North America, have been included in the first half year results. The Operating Result after Special Items amounted to EUR5.3bn. The key difference in the Group Operating Result before Special Items to market expectations relates among others in particular to improvements in the result of the Volkswagen brand in the second quarter, especially in comparison to the weak first three months. Causal factors include demand seasonality, the improved car market in Europe, as well as the return of orders from large corporate fleets that we had forecasted. Positive impacts from the efficiency programme also contributed. With regards to the Outlook: The Volkswagen Group continues to anticipate that, depending on the economic conditions - particularly in South America and Russia - and the exchange rate development and in light of the diesel issue, we expect 2016 sales revenue for the Volkswagen Group to be down by as much as 5% on the prior-year figure. In addition to the emissions issues, the highly competitive environment as well as interest and exchange rate volatility and fluctuations in raw materials prices all pose challenges. We anticipate positive effects from the efficiency programs implemented by all brands and from the modular toolkits. In terms of the Group's operating profit before special items, we anticipate that the operating return on sales will be between 5.0% and 6.0% in 2016. The full Half-Yearly report will be published on Thursday July 28th. 20.07.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language: English Company: VOLKSWAGEN AG Berliner Ring 2 38440 Wolfsburg Germany Phone: +49 (0)5361 9 - 49840 Fax: +49 (0)5361 9 - 30411 E-mail: oliver.larkin@volkswagen.de Internet: www.volkswagenag.com/ir ISIN: DE0007664039, DE0007664005 WKN: 766403, 766400 Indices: DAX, Euro Stoxx 50 Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange; Terminbörse EUREX; Luxemburg, SIX End of Announcement DGAP News-Service

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