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10/30/18
Wolfsburg
Volkswagen Group News

Volkswagen confirms sales revenue and profit target

Volkswagen confirms sales revenue and profit target
  • The Volkswagen Group increases deliveries to customers by 4.2 percent year-on-year in the first nine months, despite challenges presented by the WLTP test procedure
  • Group sales revenue up by 2.7 percent to EUR 174.6 billion due to volume-related factors
  • At EUR 13.3 billion, the operating profit before special items remained at the previous year's level
  • Slight increase in operating profit to EUR 10.9 billion – negative special items in connection with the diesel issue amount to EUR 2.4 billion, following the previous year’s EUR 2.6 billion
  • Profit before tax improves by EUR 2.2 billion to EUR 12.5 billion
  • Net liquidity in the Automotive Division at EUR 24.8 billion
  • CEO Herbert Diess: “The development in the first nine months of the current fiscal year is encouraging. We are still facing major challenges.”

The Volkswagen Group continued to grow during the first nine months of the fiscal year and is well on track to achieve its sales revenue and profit target. Despite the switch to the new WLTP test procedure, which resulted in the anticipated temporary third-quarter decline in unit sales particularly in Europe, the Group’s key figures for the first nine months are above the prior-year figures. Group sales revenue rose to EUR 174.6 billion, following EUR 170.1 billion in the prior-year period. Amounting to EUR 13.3 billion (previous year: 13.2 billion), operating profit before special items was on a par with the previous year, thus the operating return on sales stood at 7.6 percent. In the first nine months, the diesel issue gave rise to special items of EUR 2.4 billion (previous year: EUR 2.6 billion). Profit before tax increased by EUR 2.2 billion to EUR 12.5 billion. Net liquidity in the Automotive Divi-sion amounted to EUR 24.8 billion.

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