Volkswagen cuts medium-term outlook for operating profit, sales

HAMBURG (Reuters) – German carmaker Volkswagen (DE:) on Monday cut its medium-term outlook for operating profit as the industry is being hit by a global downturn.

VW now expects operating profit before special items to grow by at least 25% in the 2016-2020 period, down from a previous forecast of more than 30%, slides for a presentation showed.

The Wolfsburg-based company also cut its forecast for medium-term sales growth to 20% from more than 25%.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.