VW Cuts Margin Forecast on Hedging Loss, Higher Costs
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Volkswagen AG trimmed its profitability forecast for the year after earlier hedging losses were compounded by higher costs and supply-chain issues last quarter.
Europe’s biggest carmaker now sees operating profit level with last year at around €22.5 billion ($23.8 billion) but left unchanged its higher revenue forecast, it said Friday. This follows a reassessment of the value of hedging transactions, which are impacting VW’s expected result with a €2.5 billion loss.