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MarketScreener Homepage  >  Equities  >  Xetra  >  Volkswagen AG    VOW3   DE0007664039

VOLKSWAGEN AG

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Volkswagen : headquarters raided again over diesel scandal

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12/03/2019 | 12:07pm EST
FILE PHOTO: A new logo of German carmaker Volkswagen is unveiled at the VW headquarters in Wolfsburg

German public prosecutors raided the Wolfsburg headquarters of Volkswagen on Tuesday in the latest investigation into the carmaker's diesel emissions scandal.

Prosecutors said investigators aimed to confiscate documents. Volkswagen, which admitted in 2015 to cheating U.S. emissions tests on diesel engines, said it was fully cooperating with the authorities, but viewed the investigation as unfounded.

Volkswagen said the raids were linked to an investigation into diesel cars with engine type EA 288, a successor model to the EA 189 which was at the heart of the test cheating scandal.

The carmaker said it had itself disclosed the issue at the center of the new investigation - which is targeting individual employees - to the relevant registration authorities.

In simulations, vehicles with the EA 288 engine did not indicate a failure of the diesel filter, while still complying with emissions limits, Volkswagen said, adding the engine did not have an illegal defeat device.

News in 2015 that Volkswagen had used such devices to cheat emissions tests has so far cost the company about 30 billion euros ($33 billion) in fines, vehicle refits and legal costs, and also triggered a global backlash against diesel vehicles.

Volkswagen said when the scandal broke that about 11 million vehicles worldwide were fitted with the illegal software.

(Reporting by Jan Schwartz; Writing by Arno Schuetze; Editing by Riham Alkousaa and Mark Potter)

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Financials (EUR)
Sales 2019 250 B
EBIT 2019 17 917 M
Net income 2019 13 808 M
Finance 2019 21 854 M
Yield 2019 3,54%
P/E ratio 2019 6,38x
P/E ratio 2020 6,12x
EV / Sales2019 0,27x
EV / Sales2020 0,23x
Capitalization 88 379 M
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Mean consensus BUY
Number of Analysts 30
Average target price 202,85  €
Last Close Price 177,52  €
Spread / Highest target 36,3%
Spread / Average Target 14,3%
Spread / Lowest Target -24,0%
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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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