International AFP
The logo of German auto giant Volkswagen, on November 9, 2015 in Wolfsburg, Germany, where is headquartered (afp_tickers)
the auto giant Volkswagen, which is still marked by the scandal of manipulation of their broadcasts, announced Tuesday a net profit down 20.1% in the first quarter.
During the first three months of the year, the group of 12 brands (Volkswagen, Seat, Audi, Porsche, Skoda, etc.) posted an attributable net profit of 2,306 million euros, 20.1% less than in the same quarter last year, according to figures published in its financial report.
analysts expected a drop less important, about 2,420 million euros.
the CEO of Volkswagen, Matthias Müller, considered in a statement that the results were “respectable” given the scandal that continues to shake the German giant since September it was revealed that millions of diesel engines group were manipulated to make them look cleaner than they were in reality.
Volkswagen sales fell 1.2% in the first quarter and totaled 2.57 million vehicles, while revenues decreased by 3% to 51,000 million euros.
the group confirmed moreover its forecast for the whole of 2016, in which it expects a drop of up to 5% its turnover.
in 2015, Volkswagen reported a net loss of 1.600 billion euros, the first in 20 years, weakened by more than 16,000 million of provisions to deal with the costs of ‘ diéselgate ‘.
afp_tickers
international AFP
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