Volkswagen: shares down, despite record full-year earnings

(CercleFinance.com) - German carmaker Volkswagen Group posted record full-year earnings on Tuesday, although this did not help to lift its shares in Frankfurt this afternoon.


Operating profit before extraordinary items jumped to 17 billion euros last year, on 230.7 billion euros in revenue, up 6.2%, VW said.

Deliveries to customers achieved a new record of 10.7 million vehicles.

Another positive point is that the VW brand margin improved, with an operating return on sales before extraordinary items that increased from 1.8% in 2016 to 4.1%.

At the group level, "Audi slightly disappointed, but Porsche and Skoda more than compensated", one analyst said.

Volkswagen's preference share was trading lower after these numbers, slipping 0.1% at 158 euros.

"But it's very attractively priced - and earnings are rising, probably faster than expected," the analyst said.

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