The troubled German car company out with some figures/comments

  • vs Q3 2014 +€2.971bln
  • expects 2015 profit to be down significantly yy
  • economic trends in Latin America and Eastern Europe will need to be continuously monitored
  • 2015 sales revenue for the group expected to increase by 4%
  • automotive division net cash flow increased to €11.8bln vs +5.5bln yy
  • legal risks exist in connection with the diesel issue that cannot be assessed at present
  • considerable financial charges may be incurred as the legal risks crystallise
  • discussions underway with EU member states to ensure no legal action will be taken by public authorities beyond what has been agreed with Germany's KBA

CEO Muller says:

"We will do everything in our power to win back the trust we have lost"

May take a while but shares are now up 3.9% as markets pare back loss expectations

Volkswagen still with a lot of work to do to restore trust