Volkswagen Sees Lower Adjusted Operating Profit for 2020
January 22 2021 - 6:11AM
Dow Jones News
By Kim Richters
Volkswagen AG said Friday that its operating result before
special items will be significantly lower in 2020, according to
preliminary figures.
The German car maker said the operating profit before special
items, which are related to its diesel scandal, should be around 10
billion euros ($12.17 billion) for 2020.
In 2019, operating profit before special items was EUR19.3
billion.
Reported automotive net cash flow is expected at around EUR6
billion, it said.
The company said group deliveries in the fourth quarter of 2020
were higher than in the third quarter and led to "strong group
turnover."
"Despite the ongoing unprecedented Covid-19 situation, the
Volkswagen AG has proved to be quite robust in the second half of
2020," it said.
Volkswagen plans to release main financial figures for 2020 and
guidance for 2021 at the end of February.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
January 22, 2021 05:56 ET (10:56 GMT)
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