Volkswagen: pole position in DAX after quarterly results

(CercleFinance.com) - Volkswagen has boasted a "good start" to 2018, which has led its preference share to take the lead in the DAX 30 index in Frankfurt today, rising by 1.
4% this morning.

In Q1 2018, and as a preliminary estimate, the German automaker delivered 2.68 million vehicles (+7.4%), with its sales up 3.6% at 58.2 billion euros.

Due to the application of IFRS 9 accounting standards to derivative products, operating income fell by 4.5% to 4.2 billion euros, meaning a margin of 7.2%, vs. 7.8%. This has trimmed the group's after-tax result by 2.2% to 3.3 billion euros. However, its operating cash flow increased by five billion euros, while payments relating to the "dieselgate" scandal have fallen "significantly".

CEO Herbert Diess said that, "The Volkswagen Group is in a robust economic position, our TOGETHER - Strategy 2025 is taking effect,” believing that this trend will continue.


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