Volkswagen (pref) : Profit warning on deteriorating fundamentals, particularly at VW core brand
>VW follows peers, but warning driven by weakening fundamentals - On Friday evening, Volkswagen announced a new cut to its FY outlook for this year which, this time, was entirely driven by weaker fundamentals and not linked to any one-offs. In this respect, it is closer to that issued by Mercedes-Benz (vs Porsche or BMW which primarily blamed supply-chain issues), even though there was no specific mention of China (mostly below EBIT at VW) but rather a general deterio...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.
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.
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