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Volkswagen's (VLKAY) Management on Half Year 2018 Results - Earnings Call Transcript

Aug. 01, 2018 6:53 PM ETVolkswagen AG (VWAGY)
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Volkswegan AG (VLKAY) Half Year 2018 Earnings Conference Call August 1, 2018 8:00 PM ET


Oliver Larkin – Group Head of Investor Relations

Herbert Diess – Chairman of the Board of Management

Fred Kappler – Head of Group Sales

Frank Witter – Member of the Board of Management


Arndt Ellinghorst – Evercore ISI

Dominic O’Brien – Exane

Horst Schneider – HSBC

Georges Dieng – ODDO BHF

Jose Asumendi – JPMorgan

Daniel Schwarz – Credit Suisse

Harald Hendrikse – Morgan Stanley

Michael Punzet – DZ bank

Frank Biller – LBW Bank

Mike Dean – Bloomberg

Oliver Larkin

Hello, and good afternoon, ladies and gentlemen. Welcome to Volkswagen’s conference call for investors and analysts on the results for the period January to June 2018 based on the half yearly financial report we published this morning. For today’s conference call, I’m delighted to be joined by Dr. Herbert Diess, Chairman of the Board of Management, Volkswagen AG; as well as and Frank Witter, Member of the Board of Management, Volkswagen AG, responsible for finance and IT; and Fred Kappler, Head of Group Sales, Volkswagen AG.

You can as usual follow today’s webcast via our website, where you will also find the charts available for you to download. Most of you will have followed the webcast from this morning’s press conference, and we will try to avoid a repetition of content.

So let me now hand you over to Herbert for some opening remarks.

Herbert Diess

Okay. Thank you, Oliver, and good afternoon, ladies and gentlemen. I truly welcome this opportunity to talk to you today. For me, certainly, U.S. investors and analysts are key players who deserve to see real results. And you really also, I think, you should be glad to, let’s say, get our direct comments. And I’m really glad to join today’s conference. Frank has been keeping me regularly up-to-date on your thoughts and

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