Volkswagen hurtling off on first loss in more than 15 years [updated]

Posted on 27-10-2015 at 13:58 by rubenpriest – 43 Comments”

The Germans currently coming through the fabric. The quarterly financial results of the past three months, and the chances are that Volkswagen is a min need to go write it down.

New CEO, Matthias Mueller, has a lot of shit to process the whole dieselschandaal. Soon, figures should be presented about July, August and september. The expectation is that Volkswagen is for the first time in 15 years with more bad news to come with regard to figures, according to an analysis from Bloomberg.

Because the group’s cash reserves as a result of dieselgate, is there a loss of 3.26 billion expected. Over the same period last year did Volkswagen 3.23 billion euro to make a profit. Mueller will be the one and the other one to explain to the investors. Currently, the group 6.5 billion euros set aside, but it is still the question of whether this money is adequate. The size of all charges, car repairs and any fines are immense. All these issues can investors do to shrink to a share to be retained in the brand.

Probably comes to Volkswagen tomorrow with the results to be put outside. The group is currently in a considerable savings involved. There may be more redundancies to come, and also has Mueller brought to a stop to new developments that are currently not necessary. There is more than 1 billion cut in various investments.

UPDATE 28-10: As expected, it appears Volkswagen is indeed the red figures in diving. Volkswagen has the third-quarter operating loss of 3,48 billion euro written. Quite a loss, but given the Dieselgate-post of $ 6.7 billion, the damage is still somewhat limited. Especially when you consider that the revenue with 5.3 percent has increased to 51,49 billion euros.