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The Volkswagen Group has confirmed its targets before special items for the year as a whole. In the first six months of the current financial year, the sales revenue of the Volkswagen Group grew by 4.9 percent to €125.2 (119.4) billion compared with the first half of 2018. Despite the negative development in volumes, sales revenue was boosted especially as a re-sult of improvements in the mix and price positioning in the passenger cars business area as well as the good business development in the Financial Services Division and at TRATON. The operating profit before special items improved by 1.9 percent to €10.0 (9.8) billion and operating return on sales before special items amounted to 8.0 (8.2) percent. Improvements in the mix and price positioning as well as lower special items compared with the previous year were more than sufficient to compensate for higher fixed costs, negative currency trends and lower vehicle sales. As a result, the operating profit of the Volkswagen Group in the first half of 2019, at €9.0 (8.2) billion, was 10.3 percent higher than the figure recorded for the first half of 2018. The operating return on sales rose to 7.2 (6.8) percent. The profit of the Chinese joint venture companies, which is included in the result of equity-accounted investments, fell only slightly in a shrinking general market. The pre-tax profit rose by 6.5 percent to €9.6 (9.0) billion. The net liquidity in the Automotive Division was €15.9 billion. Frank Witter, Member of the Board of Management of Volkswagen AG responsible for Finance, said: “In the first half of the year, the Volkswagen Group performed very well in a generally weaker overall market. The development of sales revenue and profit in the first six months is gratifying. We also confirm our outlook for the Volkswagen Group for the year as a whole.”

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Dr. Marc Langendorf
Dr. Marc Langendorf
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