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MarketScreener Homepage  >  Equities  >  Xetra  >  Volkswagen AG    VOW3   DE0007664039

VOLKSWAGEN AG

(VOW3)
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BMW sues air conditioning suppliers over price fixing

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12/04/2019 | 06:08pm EST
LA Auto Show in Los Angeles

BMW is suing two of its suppliers over price fixing on air conditioning components, the German carmaker said on Wednesday.

The case was first reported in the Handelsblatt newspaper, which said that BMW was suing France's Valeo and Japan's Denso for damages of 141 million euros ($155.4 million).

A BMW spokesman confirmed the case but declined to give details. Valeo and Denso could not immediately be reached for comment.

The case relates to a decision in 2017 https://www.reuters.com/article/us-eu-antitrust-autos/eu-fines-six-car-cooling-system-suppliers-155-million-euros-idUSKBN16F173 by the European Union's competition authority to fine several car part makers - including Valeo and Denso - a total of 155 million euros for having operated cartels in a number of their markets.

The cartels identified by the European Commission related to air conditioning and engine cooling systems, from as early as 2004 until 2009.

All the companies admitted wrongdoing in return for a 10% reduction in their fines.

The cartels affected carmakers Volkswagen, BMW, Daimler brand Mercedes, Geely-owned Volvo, Suzuki, Nissan, Renault and Jaguar Land Rover.($1 = 0.9073 euros)

(Reporting by Joern Poltz; Writing by Emma Thomasson; Editing by David Goodman)

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Financials (EUR)
Sales 2019 249 B
EBIT 2019 17 812 M
Net income 2019 13 750 M
Finance 2019 21 780 M
Yield 2019 3,54%
P/E ratio 2019 6,45x
P/E ratio 2020 6,14x
EV / Sales2019 0,27x
EV / Sales2020 0,24x
Capitalization 89 088 M
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Mean consensus BUY
Number of Analysts 30
Average target price 199,66  €
Last Close Price 178,24  €
Spread / Highest target 35,8%
Spread / Average Target 12,0%
Spread / Lowest Target -19,8%
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Managers
NameTitle
Herbert Diess Chairman-Management Board
Hans Dieter Pötsch Chairman-Supervisory Board
Frank Witter Head-Finance & Information Technology
Peter Mosch Deputy Chairman
Bernd Osterloh Member-Supervisory Board
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