The Volkswagen Group leveraged its prior-year momentum and maintained its growth rate in the first quarter of 2011. “Business developments in the first quarter demonstrate the Volkswagen Group’s strength and robustness”, said Prof. Dr. Martin Winterkorn, Chairman of the Board of Management of Volkswagen Aktiengesellschaft, on Wednesday at the presentation of the interim report for the first quarter of fiscal year 2011.
- Operating profit lifted to €2.9 billion (€0.8 billion)
- Two million vehicles sold in a single quarter for the first time
- Sales revenue up more than 30 percent to €37.5 billion
- Automotive Division net liquidity remains high at €19.6 billion
Sales revenue climbed by 30.8 percent to €37.5 billion (Q1 2010: €28.6 billion). At 1.99 million, vehicle deliveries by Europe’s largest automotive group were up 14.0 percent in the period between January and March, exceeding the prior-year quarter’s strong figures. The Group’s share of the global passenger car market rose to 12.0 percent in the reporting period (11.5 percent). Operating profit climbed to €2.9 billion (€0.8 billion). The operating return on sales rose from 3.0 percent to 7.8 percent year-on-year. The consolidated operating profit does not include the €557 million share of the operating result accounted for by the Chinese joint ventures (€303 million). These companies are included using the equity method and are therefore reflected in the financial result. The Wolfsburg-based Group’s profit before tax amounted to €2.2 billion (€0.7 billion).The result after tax for the first quarter of the year increased to €1.7 billion (€0.5 billion).
- Volkswagen AG
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