Volkswagen Trades Higher After 2021 Results, Outlook for 2022

   By Kim Richters 
 

Shares in Volkswagen AG rose Monday after the German car giant reported results for 2021 and targets for the current year after the market close on Friday.

At 0827 GMT, Volkswagen's preference shares were up 6.2% at EUR152.60.

The car maker warned of the potential negative impact on its business from the war in Ukraine but its outlook for 2022, which includes operating return on sales between 7.0% to 8.5%, looks solid, Citi said.

RBC Capital Markets said Volkswagen's revenue-growth target for the year implies that strong pricing could continue.

As for financial results in 2021, the auto maker increased aftertax profit for the year to 15.43 billion euros ($16.84 billion) from EUR8.82 billion in 2020, while revenue rose to EUR250.20 billion from EUR222.88 billion.

The company's Porsche and Audi brands probably contributed to a strong group margin in the last quarter of the year, said RBC. Fourth-quarter group operating profit before special items of EUR5.97 billion was ahead of consensus estimates of EUR3.98 billion, the bank said.

Write to Kim Richters at [e-mail]

(END) Dow Jones Newswires

March 14, 2022 05:08 ET (09:08 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.