© Reuters. The Volkswagen show floor is seen under setup at the Canadian International AutoShow in Toronto

FRANKFURT (Reuters) – Volkswagen (DE:) warned investors about a tough year ahead as the 12-brand car and truck making group posted disappointing preliminary full-year results on Friday.

“The headwinds in key markets are expected to strengthen further in 2019,” Chief Executive Herbert Diess said in a statement accompanying earnings.

Volkswagen reiterated it wanted to achieve an operating return on sales of between 6.5 – 7.5 percent for the passenger cars division.

Volkswagen’s 2018 operating profit came in at 13.92 billion euros ($15.79 billion), only 0.7 percent higher than the prior year and below 14.53 billion euros forecast in a poll.

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2019-02-22