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Volkswagen profits fall 15% amid tariff, political 'challenges'
(Sharecast News) - Volkswagen posted a fall in annual earnings on Tuesday and said it faced challenges this year from US tariffs and geopolitical tensions. Operating profit fell 15% year-on-year to €19.1bn to higher costs and extraordinary expenses incurred as part of its restructuring strategy.
Revenue rose to €324.7bn from €322.3bn a year earlier. Volkswagen forecast a sales revenue to rise 5% this year and is targeting an operating margin range of 5.5 - 6.5%, compared with 5.9% in 2024 and in line an average estimate of 6.1%.
"In a challenging competitive environment, we achieved a decent overall financial performance in 2024," said chief financial officer Arno Antlitz.
"Our outlook reflects the global economic challenges and the profound changes that are happening in the industry."
The company added that Increasing competition, volatile commodity prices and emissions-related regulations would also create challenges.
Reporting by Frank Prenesti for Sharecast.com
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