VW joined the list of automakers that have confidently beaten market expectations, led by a stronger-than-anticipated demand recovery in Europe and the continued positive dynamic in China, VW’s largest single market. Diligent cost management and a reversal of WC requirements led to a solid €6.2bn of FCF in Q3, fully reversing the H1 cash burn. In spite of the Q3 outperformance, VW has stuck to its cautious FY outlook, as virus and lockdown fears once again take hold.
29 Oct 2020
Solid Q3 top-line and FCF beat, cautious FY outlook maintained
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Solid Q3 top-line and FCF beat, cautious FY outlook maintained
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- Published:
29 Oct 2020 -
Author:
Jorge Velandia -
Pages:
3
VW joined the list of automakers that have confidently beaten market expectations, led by a stronger-than-anticipated demand recovery in Europe and the continued positive dynamic in China, VW’s largest single market. Diligent cost management and a reversal of WC requirements led to a solid €6.2bn of FCF in Q3, fully reversing the H1 cash burn. In spite of the Q3 outperformance, VW has stuck to its cautious FY outlook, as virus and lockdown fears once again take hold.