VW lifts earnings outlook after higher third-quarter profit

Group revenue may exceed last year’s €217.3 billion by more than 4 percent, VW said. (AFP)
Updated 27 October 2017

VW lifts earnings outlook after higher third-quarter profit

BERLIN: Volkswagen lifted its profit guidance for this year after posting forecast-beating group earnings in the third quarter, benefitting from cost cuts at its core autos division.
Quarterly group earnings before interest and taxes (EBIT) before special items jumped 15 percent to €4.31 billion from €3.75 billion a year ago, Volkswagen (VW) said on Friday.
That beat even the highest estimate of €4.17 billion in a Reuters poll of banks and brokerages.
The Wolfsburg-based company said it now expected the group’s operating margin to moderately exceed a target corridor of between 6.0 and 7.0 percent, having previously guided for the margin to hit that range.
Group revenue may exceed last year’s €217.3 billion by more than 4 percent, VW said, keeping its previous guidance. Nine-month revenue was up 6.8 percent to €170.9 billion.


Key to success is passion: PepsiCo official

“I always think success is married with passion,” Simon Lowden said, adding that he likes to get involved with ideas that excite him
Updated 14 November 2019

Key to success is passion: PepsiCo official

  • Lowden was speaking at a session titled “100 years is a long time: Preparing for multiple shifts.”

RIYADH: The key to success is being passionate about what you do, Simon Lowden, chief sustainability officer at PepsiCo, told a brainstorming session at the Misk Global Forum in Riyadh on Wednesday.

“I always think success is married with passion,” he said, adding that he likes to get involved with ideas that excite him.

“I started my life in a small farming village, went to London to attend university, joined PepsiCo … and now I run our sustainability agenda,” he said. “This made me rich as a person, and I did things I really enjoyed.”

Lowden was speaking at a session titled “100 years is a long time: Preparing for multiple shifts.”

Other panelists included Dave Brooke, vice president of client solutions at Dell Technologies; Kevin Gaskell, an international speaker on leadership and business performance; Deloitte CEO David Sproul; and Nancy Yammout, general director of the NGO Rescue Me. The session was moderated by Lebanese journalist and politician Naufal Daou.