0658 GMT - Volkswagen has announced another profit warning, with one-off items impacting earnings by 1.1 billion euros. The warning reduces investor confidence in the underlying earnings, Citi analyst Harald C Hendrikse writes. VW reported first quarter EBIT of 2.8 billion euros from 4.6 billion euros a year ago, versus consensus of 4 billion euros. This includes 1.1 billion euros of exceptional costs. Full-year guidance was maintained, but excludes the tariff impact. Citi expects the news will be overshadowed by U.S. President Trump's 90-day deferral of reciprocal tariffs. However, it says VW is facing too many restructuring, investment, and associate moving parts to be able to accurately forecast quarterly earnings. This severely reduces the value of VW EBIT forecasts for investors, Citi says. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
April 10, 2025 02:58 ET (06:58 GMT)
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