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The Volkswagen Group boosts sales revenue and earnings in the first quarter

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Dr. Marc Langendorf
Dr. Marc Langendorf
Corporate Communications Head of Corporate Communications
Jonas Kulawik
Jonas Kulawik
Corporate Communications Spokesperson Digital Car & Services/Car.Software organization
  • Volkswagen Group confirms 2019 targets for deliveries to customers, sales revenue and operating profit before special items
  • Deliveries to customers of the Volkswagen Group at 2.6 million vehicles (–2.8 percent)
  • Group sales revenue of EUR 60.0 billion exceeds prior-year figure by 3.1 percent
  • Operating profit before special items improved by EUR 0.6 billion to EUR 4.8 billion, including a year-on-year increase in fair value measurement of derivatives amounting to EUR 0.4 billion
  • Operating profit of EUR 3.9 (4.2) billion; negative special items arising from legal risks of one billion euros
  • Profit before tax amounts to EUR 4.1 (4.5) billion
  • Net liquidity in the Automotive Division of EUR 16.0 billion; negative effect of EUR 5.1 billion on the net liquidity reported due to the application of the new IFRS 16
  • Chief Financial Officer Frank Witter: “The Volkswagen Group is once again off to a good start this year. The sales revenue performance and earnings growth in the first three months of the current fiscal year are encouraging. But we have to continue to pick up the pace when it comes to our transformation.”

Wolfsburg. The Volkswagen Group confirms full-year targets for deliveries to customers, sales revenue and operating profit before special items. Sales revenue of the Volkswagen Group rose 3.1 percent year-on-year to EUR 60.0 billion in the first three months of the current fiscal year. The rise, which occurred despite the decline in volumes of deliveries to customers, was mainly the result of mix improvements and the healthy business performance in the Finan-cial Services Division. At EUR 11.7 (11.6) billion, operating profit was in line with the previ-ous year. Operating profit before special items increased by EUR 0.6 billion to EUR 4.8 billion. The operating return on sales before special items rose to 8.1 (7.2) percent. Positive effects arising from the fair value measurement of gains and losses on certain de-rivatives, improvements in the mix and price positioning and the favorable exchange rate trend more than offset the rise in fixed costs and lower vehicle sales. Negative special items arising from legal risks in the amount of one billion euros reduced operating profit, which declined year-on-year by EUR 0.3 billion to EUR 3.9 billion. The share of profits or losses of equity-accounted investments and the share of profits and losses of the Chinese joint ven-tures included in that amount were on a par with the previous year at EUR 800 million. Profit before tax was down on the prior-year period, at EUR 4.1 (4.5) billion. Net liquidity in the Automotive Division amounted to EUR 16.0 billion.

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The specified fuel consumption and emission data does not refer to a single vehicle and is not part of the offer but is only intended for comparison between different types of vehicles. Additional equipment and accessories (additional components, tyre formats, etc.) can alter relevant vehicle parameters such as weight, rolling resistance and aerodynamics, affecting the vehicle's fuel consumption, power consumption, CO2 emissions and driving performance values in addition to weather and traffic conditions and individual driving behavior. Further information on official fuel consumption data and official specific CO2 emissions for new passenger cars can be found in the "Guide to fuel economy, CO2 emissions and power consumption for new passenger car models", which is available free of charge from all sales dealerships and from DAT Deutsche Automobil Treuhand GmbH, Hellmuth-Hirth-Str. 1, D-73760 Ostfildern, Germany and at www.dat.de/co2.