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VW has "good chances" to build on strong 2016 performance -CEO
March 14, 2017 / 9:06 AM / 9 months ago

VW has "good chances" to build on strong 2016 performance -CEO

WOLFSBURG, Germany, March 14 (Reuters) - Volkswagen has “good chances” of building on its strong 2016 performance, when it swung to a record underlying profit despite its diesel emissions crisis, Chief Executive Matthias Mueller said.

“The Volkswagen Group is in very robust shape,” Mueller said on Tuesday at the carmaker’s annual news conference in Wolfsburg.

VW expects group revenue to exceed last year’s record 217 billion euros ($231 billion) by as much as 4 percent this year and is forecasting an underlying operating margin of between 6 and 7 percent, compared with 6.7 percent in 2016, it said, affirming a forecast given on Feb. 24.

Still, operating profit of its core autos division slipped further to 1.87 billion euros in 2016 from 2.10 billion a year earlier as the brand is struggling to implement a wide-ranging turnaround plan.

$1 = 0.9394 euros Reporting by Andreas Cremer; Editing by Maria Sheahan

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