Volkswagen reported a strong set of H1 results, after having released preliminary EBIT and FCF figures earlier this month. The full release still held several positive surprises, as the company raised once again its FY21 EBIT margin guidance and upgraded its automotive FCF expectations thanks to the strong execution in H1, all this despite the impact of the semiconductor shortage. However, the chip headwinds will extend into Q3, with VW taking a more cautious view on the FY group volumes.
29 Jul 2021
H1 21 beat leads to guidance upgrade, but chip headaches still loom
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
H1 21 beat leads to guidance upgrade, but chip headaches still loom
Volkswagen reported a strong set of H1 results, after having released preliminary EBIT and FCF figures earlier this month. The full release still held several positive surprises, as the company raised once again its FY21 EBIT margin guidance and upgraded its automotive FCF expectations thanks to the strong execution in H1, all this despite the impact of the semiconductor shortage. However, the chip headwinds will extend into Q3, with VW taking a more cautious view on the FY group volumes.