Volkswagen has announced that it will delay the release of its financial results and it won’t be holding its shareholders’ meeting on time. The reason why is that the company needs more time to assess the cost and bottom line that came as a result of last year’s emissions crisis.
Originally, the company was going to release results on March 10, with its annual shareholders’ meeting scheduled towards the end of April.
At this time, there is no word on the length of delay as it works on what was termed “valuation calculations”.
Child company Porsche is also a part of this delay, and there will likely be a similar announcement from another child company, Audi.
It is not known what numbers are being evaluated and how. Currently, the working knowledge is that sales took a dip in the wake of the Dieselgate scandal late last year.
It was the first time in 11 years that sales dipped for the company. In the meantime, investors will have to postulate as to what Volkswagen is up to. At this point in the game, it is clear that Volkswagen can’t afford to get caught in any accounting funny business, so it is likely the company is auditing many elements of the picture.
