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MarketScreener Homepage  >  Equities  >  Xetra  >  Traton SE    8TRA   DE000TRAT0N7

TRATON SE

(8TRA)
  Report
Delayed Quote. Delayed Xetra - 12/04 11:35:14 am
22.93 EUR   +3.08%
12/03TRATON : UBS reiterates its Buy rating
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11/29TRATON : to expand presence in China
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11/24Scania in Chinese Market Drive With Plans for New Production Hub -- Update
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China's premium car buyers drive VW back to profit

10/29/2020 | 05:51am EST
FILE PHOTO: Beijing International Automotive Exhibition, or Auto China show

(Reuters) - Volkswagen AG returned to profit in the third quarter as surging Chinese demand for luxury cars helped offset a 1.1% drop in vehicle deliveries due to the pandemic, sending its shares as much as 3% higher on Thursday.

The German automaker's return to the black comes amid spiking coronavirus cases in Europe that led governments in France and Germany to order their countries back into strict national lockdowns on Wednesday.

"The coronavirus remains a central problem," Volkswagen Chief Financial Officer Frank Witter said in a conference call with reporters. "This situation now is anything but relaxed."

But Witter said the group expected the economic recovery to continue and did "not anticipate any nationwide lockdowns in larger markets."

Witter said the takeover of U.S. truck maker Navistar International Corp by Volkswagen's trucking unit Traton SE was an important acquisition, but the "current economic climate will not make this easy."

Volkswagen reiterated it expects to post a profit for the full year, saying its business "recovered noticeably" in the third quarter as sales in China of premium vehicles, including Audi and Porsche sports cars, rose 3%.

The quarterly performance was also aided by a series of cost-cutting measures launched earlier this year.

Volkswagen said its net liquidity rose to 24.8 billion euros from 18.7 billion at the end of the second quarter.

Excluding one-time items, third-quarter operating profit was 3.2 billion euros ($3.8 billion), down from 4.8 billion euros a year earlier, but up from a second quarter loss of 1.7 billion.

In a note to clients, Jefferies analyst Philippe Houchois described the results as a "solid performance with strong cash, but relatively muted in the context of the (auto) sector recovery."

Last week, German rival Daimler reported a record 24% jump in Chinese demand for its Mercedes-Benz cars, boosting its margins in the third quarter.

Italian-American Fiat Chrysler Automobiles and Peugeot manufacturer PSA Group both also posted solid results this week.

Witter said Volkswagen could not say for sure whether it would meet EU CO2 emissions targets this year, adding "it will be a tough race."

At 1030 GMT, Volkswagen shares were up 2.9% at 129.20 euros.

(Reporting by Nick Carey; editing by Jason Neely and Mark Potter)

By Nick Carey


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AUDI AG -0.61% 1630 End-of-day quote.103.75%
DAIMLER AG 2.54% 58.21 Delayed Quote.17.91%
FIAT CHRYSLER AUTOMOBILES N.V. 2.42% 13.55 Delayed Quote.2.70%
NAVISTAR INTERNATIONAL CORPORATION 0.02% 44.18 Delayed Quote.52.66%
PEUGEOT SA 3.40% 20.69 Real-time Quote.-2.86%
PORSCHE AUTOMOBIL HOLDING SE 0.98% 55.88 Delayed Quote.-16.15%
TRATON SE 3.08% 22.93 Delayed Quote.-4.12%
VOLKSWAGEN AG -0.45% 145.42 Delayed Quote.-17.49%
All news about TRATON SE
12/03TRATON : UBS reiterates its Buy rating
MD
11/29TRATON : to expand presence in China
PU
11/24Scania in Chinese Market Drive With Plans for New Production Hub -- Update
DJ
11/24TRATON : Scania says China to become its third global production hub
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11/24Scania to Build Plant in China as Traton Looks to Expand Presence
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11/24TRATON : Receives a Buy rating from Jefferies
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11/23TRATON : Sweden's Scania to start making trucks in China after acquisition
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11/18TRATON : Independant Research reiterates its Neutral rating
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11/18TRATON : Barclays gives a Buy rating
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11/17VOLKSWAGEN : Scania to Invest More Than $115 Million in Battery Assembly Plant
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More news
Financials
Sales 2020 22 301 M 27 029 M 27 029 M
Net income 2020 -47,9 M -58,0 M -58,0 M
Net Debt 2020 9 976 M 12 091 M 12 091 M
P/E ratio 2020 -271x
Yield 2020 0,99%
Capitalization 11 465 M 13 914 M 13 896 M
EV / Sales 2020 0,96x
EV / Sales 2021 0,88x
Nbr of Employees -
Free-Float 10,3%
Chart TRATON SE
Duration : Period :
Traton SE Technical Analysis Chart | MarketScreener
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Technical analysis trends TRATON SE
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 22,28 €
Last Close Price 22,93 €
Spread / Highest target 9,03%
Spread / Average Target -2,86%
Spread / Lowest Target -25,9%
EPS Revisions
Managers
NameTitle
Matthias Grundler Chairman-Management Board & CEO
Hans Dieter Pötsch Chairman-Supervisory Board
Christian Levin COO & Member-Management Board
Christian Schulz Chief Financial Officer & Member-Management Board
Athanasios Stimoniaris Vice Chairman-Supervisory Board
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