VOW Volkswagen AG

   By Cristina Roca 
 

Traton SE on Monday reported higher 2019 earnings and sales, but said it could no longer give guidance for the year ahead due to the coronavirus pandemic.

The truck maker said the 2020 guidance it gave in its 2019 annual report published Monday was no longer valid given the rapid spread of the virus.

Traton had expected a moderate decline in sales units during 2020, as well as a moderate drop in revenue. Operating return on sales had been expected at 4.5%-5.5% for the year.

The partially listed Volkswagen AG unit said Monday that this guidance isn't valid any longer, and that it can't give a new one.

Traton said it is implementing emergency plans and taking steps to secure its liquidity.

For 2019, Traton reported after-tax profit of 1.52 billion euros ($1.62 billion), up from EUR1.39 billion for 2018. Operating profit also rose to EUR1.88 billion from EUR1.51 billion the year previous.

Traton's sales were EUR26.9 billion compared with EUR25.93 billion.

However, order intake for the year fell by 7%, the truck maker said.

Traton proposed a dividend of EUR1 a share.

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

(END) Dow Jones Newswires

March 23, 2020 03:59 ET (07:59 GMT)

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