Volkswagen (VOW3 GY) Q2 2026 (EUR): Revenue 82.4bln (exp. 81.7bln), Operating Profit 3.47bln (exp. 4.07bln), Earnings before tax 1.54bln (exp. 2.37bln), guides FY26 revenue growth between -3 to 0% (prev. guided 0-3%)
VW's Q2 results highlight a critical profit miss and guidance cut driven by a -31.6% sales crash in China and persistent 20% cost disadvantages amid stalling restructuring efforts.
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H1: Revenue 158.1bln (prev. 158.4bln Y/Y). Operating Profit 5.9bln (prev. 6.7bln Y/Y). Net Cash Flow 3.2bln (prev. -1.4bln Y/Y). Other Q2 metrics: Vehicle unit sales -9.7%. Unit deliveries -8.6%. Unit production -13.4%. Vehicle sales by region: South America +5.2%. Western Europe +1.3%. Central and Eastern Europe +9.6%. China -31.6%. CEO:"The environment for the automotive industry remains extremely challenging: geopolitical crises, trade conflicts, high regulatory requirements, volatile markets and intensified competition."CFO:"In an environment where the Chinese total market is down by 20% and Chinese competitors are increasing exports and thereby increasing competitive pressure in Europe, the currently planned initiatives are not sufficient."
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