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The Volkswagen Group is off to a good start for the new fiscal year. Supported by record unit sales in the first quarter, Group sales revenue rose year-on-year from EUR 56.2 to EUR 58.2 billion. Operating profit decreased from EUR 4.4 to EUR 4.2 billion – the moderate decline is due, among other things, to the negative effect resulting from a change in the reporting of the valuation of derivatives of derivatives (IFRS 9). Without this effect, the adjusted earnings were up slightly year-on-year. In the period from January to March, the operating return on sales amounted to 7.2 percent. Additional significant provisions in connection with the diesel issue were not incurred in the first quarter of 2018, in addition there were significantly lower cash outflows in respect of this matter.

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