Thursday, October 27, 2016

Profit of the Volkswagen increases reaching 48.2% in September to 5.915 million – Express

the net profit of The carmaker German Volkswagen increased by 48.2% and to 5.915 million euros in the first nine months of the year compared to the same period of 2015, when the result was affected by the scandal of the manipulation of the emission.

According to reported, today, the largest vehicle manufacturer in Europe, in the third quarter, the profit amounted to 2.337 million euros, which compares with a loss of 1.673 million euros in the previous year.

In the year to September, the billing of the Volkswagen group (VW) has remained in the 159.932 million euros, taking the operating profit increased almost 159%, to 8.647 million, and the extraordinary results indented for 61.8%, to 2,620 million euros.

“The main results of the first three quarters attest to the very good operating situation of the brands of the Volkswagen group,” said the chairman of the Board, Matthias Müller, during the presentation of the accounts.

“On this basis",” added Müller, cited by agency EFE – "impulsionaremos and overcome the transformation of a manufacturer’s car on a provider for sustainable mobility”.

according To chairman of the Volkswagen group, the new strategy up to the year 2025 and the results presented today show that the group is able to react to moments of less-than-favorable.

Between January and September, deliveries increased by 2.4%, to a total of 7.609 million units, and production grew 2.8%, to 7.645 million units.

After the disclosure of these results, the shares of Volkswagen on the Frankfurt stock exchange rose by about 1.5%, for 127,95 euro.

During the presentation of the accounts, the chief financial officer of Volkswagen, Frank Witter, emphasized that the good financial situation of the group is a pivotal aspect of its success, ensuring that the company is financially solid, in spite of the impact and of the challenges raised by the scandal of the manipulation of the diesel engines.

According to Witter, the liquidity gives the group the financial stability to think about the future of mobility and, at the same time, support the financial consequences of the manipulation, the investments and the expenditures necessary to meet the requirements to the level of carbon dioxide emissions for the new technologies.

As stated, the effects of manipulation in the emissions of diesel engines require investments and, consequently, discipline on costs.

“The productivity and profitability should improve considerably in the entire group,” especially in the Volkswagen brand, underlined Witter.

The Volkswagen group has reached agreement in the USA to pay the claims resulting from the discovery of the manipulation carried out on the diesel engines of the brand, which will cost about 15,000 million dollars (approximately 13.737 million).


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