The Volkswagen brand had a stable 2016 and defying expectations, but the brand’s CEO wants to do even better in 2017.
Although the brand did well, there are still massive expenditures—like TDI payments and restructuring from diesel to electricity—so Herbert Diess, CEO, wants more profit.
Sharp year-on-year rise in sales revenue to EUR 160.3 billion (EUR 147.7 billion)
Negative special items relating to diesel issue of EUR 6.7 billion and in trucks business of EUR 0.2 billion
Operating profit after special items at EUR 3.3 billion (EUR 9.4 billion)
Full-year earnings forecast...
Sharp year-on-year rise in sales revenue to EUR 108.8 billion (EUR 98.8 billion); positive impact from exchange rates and mix effects
Operating profit before special items rises to EUR 7.0 billion (EUR 6.2 billion)
Equity-accounted profit of the Chinese joint ventures level year-on-year