Volkswagen Backs Targets Set out in Strategic Plan -- Update

Date : 11/18/2019 @ 6:31PM
Source : Dow Jones News
Stock : Volkswagen AG (VOW)
Quote : 176.2  1.75 (1.00%) @ 4:35PM

Volkswagen Backs Targets Set out in Strategic Plan -- Update

Volkswagen (XE:VOW)
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   By Carlo Martuscelli 
 

Volkswagen AG (VOW.XE) on Monday confirmed the targets it had previously set out in its Together 2025+ strategic plans.

The German car maker said that in 2020, it expects its operating profit before special items to be between 6.5%-7.5% of sales. For 2025, the automotive group is targeting a level between 7%-8%.

Volkswagen had previously expected sales revenue to grow by 25% over the 2016-20 period, but now expects a 20% increase. Operating profit over this period is now expected to grow 25%, compared with the company's previous forecast of 30%.

Volkswagen also said it was backing its 2019 outlook.

 

Write to Carlo Martuscelli at carlo.martuscelli@wsj.com; @carlomartu

 

(END) Dow Jones Newswires

November 18, 2019 13:16 ET (18:16 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


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