Volkswagen Group says the fiscal year has got off to a mixed start, financially, and has struck a downbeat note on the outlook for the year. Operating profit in Q1 FY2025 was down 37% at €2.9bn, although sales revenue was up 3% to €78bn (unit sales up 1% to 2.1m vehicles).
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The company said ‘challenges will arise in particular from an environment characterised by political uncertainty, increasing trade restrictions and geopolitical tensions, the increasing intensity of competition, volatile commodity, energy and foreign exchange markets, and more stringent emissions- related requirements’.
However, it also said there would be strong product momentum and a ‘focus on cost discipline’
Arno Antlitz, CFO & COO Volkswagen Group said the start to the fiscal year was expected.
“An operating margin of around four per cent clearly shows that there is still a considerable amount of work ahead of us,” he said.
