62748
VW Production Jumps 28% in Q1
VW Production Jumps 28% in Q1

VW Production Jumps 28% in Q1

VW Production Jumps 28% in Q1

Volkswagen reported a 28% jump in first-quarter operating profit, helped by a return to earnings growth at its core VW brand which has struggled to recover from the German carmaker’s diesel emissions scandal.
Group operating profit during the quarter came to 4.4 billion euros ($4.7 billion), compared with 3.4 billion in the year-earlier period, Automotive News Europe reported on Wednesday.
Volkswagen said on Tuesday that first-quarter operating earnings at the VW brand came to around 900 million euros, up from 73 million in the year-earlier period.
Volkswagen said its other brands, which include Audi and Skoda, also contributed to the good performance but did not provide details.
It said it still expected to report a full-year group return on sales of between 6 and 7 percent this year.
“If Q2 continues to do well, we expect VW to increase its full-year guidance in summer,” said Evercore ISI analyst Arndt Ellinghorst, who had expected first-quarter group operating profit of around 3.8 billion euros.
Volkswagen is due to publish detailed first-quarter financial results on May 3.

Short URL : https://goo.gl/LhsDIL
  1. https://goo.gl/BWEwNk
  • https://goo.gl/6whTRp
  • https://goo.gl/X4TSQ1
  • https://goo.gl/FlVXEO
  • https://goo.gl/tepNcE

You can also read ...

TCCIM Doubles Down on Sound Forex Policies
By keeping the rial overvalued, the administration is in fact...
Iran needs to import around 800,000 tons of rice every year.
The temporary ban on rice imports has been lifted from Nov. 22...
The world’s 66 steelmakers produced 1.41 billion tons of steel during the 10 months, up 5.6% YOY.
Iranian steel mills produced 17.9 million tons of steel since...
Call for Prioritizing Financial  Ties During Visit of UK’s FM
Boosting banking relations with Britain is a top priority of...
Speculations About Gold Rally
The sudden leap in gold coins’ prices and their unprecedented...
For a Successful  Implementation of IFRS
In the Iranian banking world, the IFRS fever has been running...
The new store of South Korea’s largest convenience store chain CU opens in Tehran on Nov. 20. (Yonhap)
BGF Retail Company, the operator of South Korea’s largest...
Quake Damage to Kermanshah Agriculture Estimated
The recent earthquake that hit western Iran inflicted losses...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus