Volkswagen Group strong first half of 2018

Strong first half of 2018. 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 €115.3 billion to €119.4 billion year-on-year.

Operating profit before special items increased from €8.9 billion to €9.8 billion, however, expenditures of €1.6 billion in connection with the diesel crisis were recognised 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 €6.6 billion.

‘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 Dr. 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, an increase of 7.1 per cent compared with the prior-year period.

For the year as a whole, the Volkswagen Group expects deliveries in 2018 to moderately exceed the prior-year figure amid continuously challenging market conditions, with sales revenue for the Volkswagen Group expected to be up by as much as 5 per cent on the prior-year figure.

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