© Heynortheast Media Private Limited
Volkswagen Group records strong first half growth in sales revenue and earnings
The Volkswagen Group continued its profitable growth course in the first half of 2018, posting record figures for deliveries, sales revenue and earnings (before special items).
In the period from January to June, Group sales revenue rose from EUR 115.3 billion to EUR 119.4 billion year-on-year. Operating profit before special items increased from EUR 8.9 billion to EUR 9.8 billion, however, expenditures of EUR 1.6 billion in connection with the diesel crisis were recognized in the second quarter. The operating return on sales before special items rose from 7.7 to 8.2 per cent.
The Group’s profit after tax for the first six months was up 2.1 per cent year-on-year to EUR 6.6 billion, an official statement issued by Volkswagen Group from Wolfsburg said.
“The Volkswagen Group performed successfully in the first half of the year, with very solid growth in sales revenue and earnings. We also delivered more vehicles than ever before,” said Herbert Diess, CEO of Volkswagen AG, commenting on the results for the first six months.
“However, we cannot rest on our laurels because great challenges lie ahead of us in the coming quarters – especially regarding the transition to the new WLTP test procedure. Growing protectionism also poses major challenges for the globally integrated automotive industry.”
Globally, the Volkswagen Group delivered 5.5 million vehicles to customers in the first half of 2018. This means an increase of 7.1 per cent compared with the prior-year period.
The News Mill is now on Telegram. Click here to join our channel (@thenewsmill) and stay updated with the latest news from across Northeast India