FRANKFURT – Volkswagen
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The carmaker expects to post an underlying operating margin of between 6 and 7 percent this year, compared with 6.7 percent last year, even as revenue growth accelerates to 4 percent, it said on Friday.
Volkswagen also reported operating profit before special items jumped 14 percent to a record level of 14.6 billion euros ($15.5 billion), broadly in line with forecasts, and hiked its dividend more than expected.
Record earnings before one-off items reflect progress VW has achieved on making its core brand leaner and more efficient.
But it booked bigger-than-expected one-off charges totaling 7.5 billion euros in 2016, of which 6.4 billion were related to the emissions-test rigging scandal. Analysts had on average forecast 4.2 billion euros in total.
(Reporting by Maria Sheahan; Editing by Edward Taylor)