The VW group’s preliminary figures missed the net cash flow targets and expectations with soaring inventories stemming from weak supply lines and logistics. The inventory headwinds are likely to reverse in FY23 once stand-by finished products are delivered, limiting the negative reading. Furthermore, with the top line and margin broadly in line with estimates, the group’s preliminary figures appear robust compared to Ford’s miss last week.
08 Feb 2023
Preliminary FY22: Cash stored in the parking lot
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Preliminary FY22: Cash stored in the parking lot
The VW group’s preliminary figures missed the net cash flow targets and expectations with soaring inventories stemming from weak supply lines and logistics. The inventory headwinds are likely to reverse in FY23 once stand-by finished products are delivered, limiting the negative reading. Furthermore, with the top line and margin broadly in line with estimates, the group’s preliminary figures appear robust compared to Ford’s miss last week.