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  • Group sales revenue for the first three months down slightly, operating profit at EUR 3.4 billion, due to positive special items
  • Net liquidity in the Automotive Division up further to EUR 26.0 billion at the end of March
  • Chairman of the Board of Management Matthias Müller: "We are satisfied overall with the start we have made to a challenging year and have achieved respectable results under difficult conditions"

In the first quarter of the current fiscal year, the Volkswagen Group delivered a solid performance in a challenging market and competitive environment. Despite positive mix effects and an increased contribution by the Financial Services Division, Group sales revenue was down 3.4 percent on the strong prior-year figure, at EUR 51.0 billion. This slight decline is primarily attributable to the fall in vehicle unit sales and negative exchange rate effects. Operating profit climbed to EUR 3.4 (3.3) billion, with the reported figure equating to an operating return on sales of 6.8 percent. First quarter operating profit contained overall positive special items of EUR 0.3 billion, due among other things to currency-related adjustments to the provisions recognized in connection with the diesel issue. Excluding these positive special items, operating profit would have decreased slightly to EUR 3.1 billion. The operating return on sales before special items thus declined to 6.1 (6.3) percent.

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