FRANKFURTÂ — Volkswagen Team said it expects revenues and deliveries to rebound strongly in the present-day year, shrugging off the effect of the coronavirus pandemic.
The automaker also said its running gain, stripping out specific goods related to the diesel scandal, fell 45 p.c to ten.6 billion euros ($twelve.nine billion) very last year.
VW is projecting an running margin of five p.c to 6.five p.c for 2021 and aiming for the higher end of that array, according to a assertion issued immediately after the automaker’s supervisory board assembly on Friday.
“We intend to carry around the potent momentum from the substantially greater 2nd fifty percent into the present-day year,” CFO Frank Witter said in the assertion. “The applications for lessening our preset expenses and in procurement will make us extra sturdy in the very long term,” he said.
VW Group’s car deliveries fell 15 p.c to nine.3 million very last year.
The enterprise cautioned that intensive opposition, risky commodity and overseas exchange marketplaces and restricted supply chains would problem its small business.
Even with the 2020 gain drop, VW encouraged keeping its dividend to shareholders secure for 2020 as opposed to 2019, when it paid out four.86 euros for each most well-liked share and four.80 for each ordinary share.
Most automakers have arrive via the global pandemic greater than to begin with feared, led by a profits rebound in China.
The reprieve is proving small-lived, nonetheless. A global squeeze on semiconductors is dragging on although commodity rates these as copper are nearing all-time highs, and buyers are using a dim perspective of companies’ qualities to transform into nimble electric-car leaders.
The pressures are accelerating options to reorganize. Daimler this thirty day period decided to spin off a the greater part of its trucks small business, and VW is weighing a separate listing of its Porsche sports-car brand.
The move would be a watershed second and assist deal with a stubbornly low valuation that is putting VW at a major disadvantage to rival Tesla.
VW is developing the industry’s most significant fleet of total-electric cars and is substantially boosting computer software operations.
Bloomberg contributed to this report
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