- Group's core brand reports further growth in sales revenue and operating profit before special items in third quarter
- "Transform 2025+" strategy brings sustainable results
- Cost development remains under control despite biggest product offensive in history of brand
- Turnaround program in North America taking hold
- Return on sales for 2017 as a whole expected to be moderately higher than previously forecast range of 2.5 to 3.5 percent (before special items)
- Brand CEO Diess: "We are well on the way to achieving our key strategic goals"
Volkswagen continues on successful course
The Volkswagen brand continued its successful business development in the third quarter of 2017. Sales revenue from January to September based on the new demarcation between the Group and the brand, which has been applied since the beginning of the year, climbed 8.3 percent compared with the previous year to €58.9 billion. In the first nine months, Volkswagen more than doubled operating profit before special items to €2.5 (1.2) billion. This was impacted by additional provisions for the buyback/retrofit program for 2.0l TDI vehicles in North America in approximately the same amount already announced by the Group and recognized in the brand's figures for the third quarter. Adjusted for this special item, the brand's operating margin improved to 4.3 (1.6) percent after nine months. In light of the good development, Volkswagen has slightly raised its forecast for 2017 as a whole. The Brand Board of Management expects the operating return on sales (before special items) to be moderately higher than the previously forecast range of 2.5 to 3.5 percent.