Volkswagen AG revised its guidance for the year after hedging losses cut into profitability during the earlier part of the year.
(Bloomberg) — Volkswagen AG revised its guidance for the year after hedging losses cut into profitability during the earlier part of the year.
The company now expects an operating result for the full year to be around the level of the previous year before special items, which was around €22.5 billion ($23.8 billion), it said Friday.
This follows fair value re-measurements of hedging transactions, which are impacting VW’s result with a €2.5 billion loss, according to a statement. Europe’s biggest carmaker left unchanged its forecasts for vehicle deliveries and revenue.
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