Operating profit adjusted for special effects slumped by almost 93 percent. But the signs point to recovery.
As expected, the Volkswagen commercial vehicle holding Traton closed the 2020 Corona year with major losses. According to preliminary figures, the operating result adjusted for special effects collapsed by almost 93 percent to 135 million euros, the group announced on Friday in Munich. With 22.6 billion euros, Traton also earned almost 16 percent less than a year earlier.
The net inflow of funds fell by a good three quarters to 650 million euros. The board emphasized the “unprecedented ongoing Covid-19 challenges” over the past year. Traton boss Matthias Gründler pointed out that plants had to close for several weeks and the company had to accept a corresponding drop in sales.
Nevertheless: “The business recovery in the second half of the year makes us optimistic for 2021.” The group plans to publish the final results for the past financial year by March 22nd at the latest. Gründler had already spoken of a significant business recovery in November after the market had collapsed in the second quarter due to the Corona crisis.
