Volkswagen: nine-month results beat expectations
(CercleFinance.com) - Volkswagen Group, the world's second biggest carmaker, beat forecasts with a slight increase in operating profit over the first nine months of 2018, helped by a rise in deliveries.
The group said on Tuesday that operating profit before extraordinary items rose to 13.3 billion euros, from 13.2 billion euros in the previous year.
Group sales reached 174.6 billion euros, compared to 170.1 billion euros last year, on the back of deliveries that rose 4.2% year-on-year.
Despite "continuously challenging market conditions," the Wolfsburg-based group reaffirmed its forecast for full-year deliveries to moderately surpass the previous year's figure.
Sales revenues are intended to grow by up to 5% y-o-y, VW added.
Its share is up 1.5% at 144.6 euros after these results, largely outpacing market, which is down 0.7%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The group said on Tuesday that operating profit before extraordinary items rose to 13.3 billion euros, from 13.2 billion euros in the previous year.
Group sales reached 174.6 billion euros, compared to 170.1 billion euros last year, on the back of deliveries that rose 4.2% year-on-year.
Despite "continuously challenging market conditions," the Wolfsburg-based group reaffirmed its forecast for full-year deliveries to moderately surpass the previous year's figure.
Sales revenues are intended to grow by up to 5% y-o-y, VW added.
Its share is up 1.5% at 144.6 euros after these results, largely outpacing market, which is down 0.7%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.