Volkswagen (pref) : Q3 release broadly unsurprising but the focus is elsewhere
>Soft Q3 but not worse than expected, recovery hoped for in Q4 (excl. strike risk) - Q3 (see our specific flash yesterday) was expected to be the weakest quarter of the year, given the combined effect of a tough environment and a number of one-offs (mainly for Progressive, related to Audi’s restructuring in Brussels). And so it was, with weak results (operating margin of 3.6% or 5.2% excl. exceptionals) but broadly in line. In detail, while Core surprised on the upsid...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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