Volkswagen is lowering its return target for the current financial year as part of preliminary figures.
After nine months, Volkswagen no longer expects to be able to offset accumulated negative effects from fair value measurements of hedging instruments on the operating result in the order of 2.5 billion euros. For the year as a whole, an adjusted operating result of the same magnitude as the previous year (around 22.5 billion euros) will be achieved, the automobile manufacturer announced in the evening. VW had previously forecast an operating return on sales of between 7.5 and 8.5 percent for 2023.
The remaining forecasts for sales, revenue, cash flow and net liquidity were confirmed.
VW reported an operating result of around 4.9 billion euros for the third quarter. Group sales rose by 12 percent to around 78.8 billion euros. Accordingly, the operating return on sales was around 6.2 percent. Fair value valuations of hedging instruments outside of hedge accounting had no significant impact on the quarterly results, explained VW. While increasing sales supported the result, the loss of production by a Slovenian supplier and higher product costs had a negative impact.
VW will publish the complete interim report on October 26th.
After the preliminary figures were announced via Tradegate, VW’s assets lost 1.24 percent to 103.26 euros.
DJG/rio/jhe
Dow Jones Newswires
Selected lever products on Volkswagen (VW) St.
With knock-outs, speculative investors can participate disproportionately in price movements. Simply select the lever you want and we will show you suitable open-end products on Volkswagen (VW) St.
The leverage must be between 2 and 20
Advertising