Report
Anthony Dick ...
  • Michael Foundoukidis

Volkswagen (pref) : Difficile d’envisager un rebond à court terme

>Une publication sans grande saveur - VW a publié des résultats T2 inférieurs aux attentes, notamment impactés par des éléments exceptionnels plus élevés qu’attendu (1.6 Md€) qui ont pesé sur la rentabilité (MOP de 7.0% vs 7.8% attendu, MOP hors exceptionnels néanmoins en ligne et robuste), et un impact BFR plus négatif (difficultés logistiques) conduisant à un FCF limité (0.2 Md€). Au-delà, la plupart des objectifs annuels ont été confirmés et les ajustements du cons...
Underlying
Volkswagen AG Pref

Volkswagen the parent company of the Volkswagen Group. It develops vehicles and components for the Group's brands, and produces and sells vehicles such as passenger cars and light commercial vehicles for the Volkswagen Passenger Cars and Volkswagen Commercial Vehicles brands. In the electricity sector, Co. performs electricity generation, sales and distribution together with a Group subsidiary. Western Europe, China, Brazil, the U.S., Russia, Mexico and Argentina are the key markets of the Group. The automotive division comprises the passenger cars, commercial vehicles, and power engineering segments, while the financial services division corresponds to the financial services segment.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Anthony Dick

Michael Foundoukidis

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