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Money VW share: Volkswagen with billions in loss - dividend significantly reduced for 2019

10:31  30 july  2020
10:31  30 july  2020 Source:   finanzen.net

BMW after loss: savings in investment and personnel planned

 BMW after loss: savings in investment and personnel planned © BMW Group BMW. car plants and dealerships were closed for months - BMW has now also slipped into the red. The group saves and is preparing for various scenarios. But slowly things are looking up again. In July there is already “a clear ray of hope”. For the first time in eleven years, BMW is back in the red. "As expected, the global measures to contain the pandemic had a full impact on our business in the second quarter," said CEO Oliver Zipse on Wednesday in Munich.

Volkswagen AG cut its proposed dividend after recording an 800-million-euro loss (1 million) in the first half of the year, when the Covid-19 pandemic shuttered showrooms and factories in key markets. The German manufacturer lowered its 2019 dividend to 4.86 euros per preferred share , from 6.56

Volkswagen unveiled a first-half operating loss on Thursday after the carmaker suffered a 27% drop in vehicle deliveries due to the coronavirus pandemic, a step which forced to carmaker to slash its dividend . Volkswagen predicted sales for the full year to significantly fall from 2019 levels, but added.

The Volkswagen Group has felt the Corona crisis in terms of sales and earnings and has slipped into the red as expected.

DANIEL ROLAND/AFP/Getty Images © Provided by Finanz.net GmbH DANIEL ROLAND / AFP / Getty Images

Before taxes there was a loss of 1.4 billion euros in the first half of the year, as the DAX group announced on Thursday in Wolfsburg. A year ago, VW had made a profit of 9.6 billion euros here. Because the belts stood still for a long time, especially in March and April, and hardly any cars could be sold in Europe and North America, sales fell by 23 percent to EUR 96 billion. Volkswagen did better than expected on the market. Analysts had expected sales in the six months at 95.0 billion and the operating loss before special items at 1.55 billion euros.

Volkswagen launches new United value edition range

  Volkswagen launches new United value edition range The new Volkswagen United range brings lower prices and added value to the Polo, T-Cross and T-Roc model lines. The firm says the combination of extra equipment and revised prices brings up to £1,760 of added value over the regular SE trim they’re based on. Prices actually undercut both Match and SE variants for each model: Polo United – prices from £17,350T-Cross United – prices from £20,410T-Roc United – prices from £23,550 United models are marked out by unique ‘United’ badging and door sill protectors, and ‘Dublin’ alloy wheels in either 15-inch, 16-inch or 17-inch diameter, depending on the model.

Volkswagen 's cleanup of a diesel cheating scandal will cost it 5.5 billion euros (.25 bln) in 2018 and around 2 billion euros in 2019 , Chief Financial In 2020 Volkswagen Group will see costs of about 1 billion euros related to emissions cheating, Witter told the paper. VW is sticking to plans for listing its

The Volkswagen emissions scandal, also known as Dieselgate or Emissionsgate, began in September 2015, when the United States Environmental Protection Agency (EPA)

In terms of operating profit before special items, Volkswagen , with a loss of EUR 0.8 billion, was slightly better than analysts' estimates. A year ago VW had also earned 10 billion euros here. The group remains in business prospects for 2020, although the operating result should remain significantly below the previous year's figure, but still be positive. "Given the positive trend in our business in recent weeks and the introduction of numerous attractive models, we are cautiously optimistic about the second half of the year," CFO Frank Witter is quoted in the message.

dividend reduced

Volkswagen AG shareholders have to be satisfied with a significantly lower dividend than originally planned due to the corona pandemic. As the DAX Group announced, a dividend of EUR 4.80 per ordinary share and EUR 4.86 per preference share will be proposed to the Annual General Meeting for 2019. The previous proposal had been EUR 6.50 per ordinary share and EUR 6.56 per preference share. The remaining balance sheet profit of 855 million euros will be carried forward to new account. Volkswagen had announced that it would review the dividend.

The proposal will be presented to shareholders at the Annual General Meeting, which will now take place in virtual form on September 30. The shareholders' meeting originally planned for May had been postponed due to the corona pandemic.

Volkswagen AG remains committed to the goal of achieving a payout ratio of at least 30 percent, the group said.

FRANKFURT (Dow Jones) / WOLFSBURG (dpa-AFX)

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