Porsche, Audi lift VW to record underlying profitLogos of German carmaker Volkswagen seen at a VW dealership in the Queens borough of New York, September 21, 2015. — Reuters picWOLFSBURG, Germany, Feb 25 — Record Audi and Porsche sales helped Volkswagen swing to a record underlying profit in 2016, although a bigger than expected charge from the diesel emissions scandal meant it missed estimates for its operating profit. VW forecast broadly stable earnings this year. Sales of the German carmaker's luxury brands lifted underlying operating profit before special items 14 per cent to €14.6 billion (RM68.5 billion) in 2016, after the company reported its biggest ever loss in 2015. Including those charges, VW made a 2016 operating profit of €7.1 billion, missing a consensus forecast of €10.5 billion but a big swing from a loss of €4.1 billion in 2015.
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REUTERS/Kacper Pempel/File PhotoWOLFSBURG, Germany Record Audi and Porsche sales helped Volkswagen (VOWG_p.DE) swing to a record underlying profit in 2016, although a bigger than expected charge from the diesel emissions scandal meant it missed estimates for its operating profit. Including those charges, VW made a 2016 operating profit of 7.1 billion euros, missing a consensus forecast of 10.5 billion euros but a big swing from a loss of 4.1 billion euros in 2015. A Volkswagen logo is pictured at the newly opened Volkswagen factory in Wrzesnia, Poland, September 9, 2016. Sales of the German carmaker's luxury brands lifted underlying operating profit before special items 14 percent to 14.6 billion euros ($15.5 billion) in 2016, after the company reported its biggest ever loss in 2015. VW forecast broadly stable earnings this year.
REUTERS/Pawel Kopczynski/File PhotoWOLFSBURG, Germany Record Audi and Porsche sales helped Volkswagen (VOWG_p.DE) swing to a record underlying profit in 2016, although a bigger than expected charge from the diesel emissions scandal meant it missed estimates for its operating profit. Including those charges, VW made a 2016 operating profit of 7.1 billion euros, missing a consensus forecast of 10.5 billion euros but a big swing from a loss of 4.1 billion euros in 2015. VW forecast broadly stable earnings this year. Sales of the German carmaker's luxury brands lifted underlying operating profit before special items 14 percent to 14.6 billion euros ($15.5 billion) in 2016, after the company reported its biggest ever loss in 2015. Analysts had on average forecast the cost would be 4.2 billion euros in total.
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Porsche, Audi lift Volkswagen to record underlying profit
REUTERS/Kacper Pempel/File PhotoWOLFSBURG, Germany Record Audi and Porsche sales helped Volkswagen (VOWG_p.DE) swing to a record underlying profit in 2016, although a bigger than expected charge from the diesel emissions scandal meant it missed estimates for its operating profit. Including those charges, VW made a 2016 operating profit of 7.1 billion euros, missing a consensus forecast of 10.5 billion euros but a big swing from a loss of 4.1 billion euros in 2015. A Volkswagen logo is pictured at the newly opened Volkswagen factory in Wrzesnia, Poland, September 9, 2016. Sales of the German carmaker's luxury brands lifted underlying operating profit before special items 14 percent to 14.6 billion euros ($15.5 billion) in 2016, after the company reported its biggest ever loss in 2015. VW forecast broadly stable earnings this year.
Porsche, Audi lift VW to record underlying profit
REUTERS/Pawel Kopczynski/File PhotoWOLFSBURG, Germany Record Audi and Porsche sales helped Volkswagen (VOWG_p.DE) swing to a record underlying profit in 2016, although a bigger than expected charge from the diesel emissions scandal meant it missed estimates for its operating profit. Including those charges, VW made a 2016 operating profit of 7.1 billion euros, missing a consensus forecast of 10.5 billion euros but a big swing from a loss of 4.1 billion euros in 2015. VW forecast broadly stable earnings this year. Sales of the German carmaker's luxury brands lifted underlying operating profit before special items 14 percent to 14.6 billion euros ($15.5 billion) in 2016, after the company reported its biggest ever loss in 2015. Analysts had on average forecast the cost would be 4.2 billion euros in total.
read more visit us profit
collected by :Jack Luxor
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