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WORLD | FINANCIAL RESULTS 
Under-fire Volkswagen weathers storms better than feared
Published: Fri, 28th Oct 2016 10:21:44 GMT  
 

VW Wolfsburg HQ August 2016 Q3 profits

China and the group’s multitude of brands helped boost VW Group’s 3rd quarter sales 4.2 per cent to 2.49m units, lifting the group’s nine months global vehicle sales 2.4 per cent to 7.6m. More upbeat still, operating profits in the third quarter - excluding China - jumped 17 per cent to €3.75bn, boosting nine months group operating profits 10.5 per cent to €11.3bn. Before exceptionals, the group’s 3rd quarter operating margin rose a full percentage point to 7.2 per cent and 7 per cent for the nine months to September this year

For Volkswagen’s hounded senior bigwigs there was more soothing news from China’s still sizzling car market - the group’s single biggest market.

Here the group’s share of nine months joint venture operating profits, which are not included in declared VW group profits, eased back only marginally to €3.59bn.

Yet more comfort for Volkswagen’s already sleep-deprived senior management: aside from a 2.4 per cent rise in 9- months global vehicle deliveries to a notably higher than feared 7.6m vehicles, net liquidity at this year’s 9-months stage jumped 12.1 per cent to a comforting €31.1bn.

Besides Škoda, which emerged as yet another pillar of strength, prestige sector Audi, although impeded by the imminent changeover to its new Q5, remains with Porsche the group’s main profit dynamo
...more


MORE LIKE THIS:

| Volkswagen, is this as bad as it gets?  13 Sep 2016


| Volkswagen, more pain and no gain  10 May 2016


| Volkswagen buffeted by stiffening headwinds in March  11 Apr 2016
 

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