Electric vehicles from Volkswagen
In March, the group achieved a strong increase in sales.
(Photo: Bloomberg)
Solid start to the year for VW: Thanks to better sales figures, Germany’s largest car manufacturer was able to clearly increase sales and operating profit in the first quarter compared to the previous year. From January to March, sales grew by more than 21 percent to 76 billion euros, and operating profit increased by 25 percent to 7.1 billion euros. The group announced this on Thursday.
In the previous year, a book profit from raw material transactions of around 3.5 billion euros had inflated the VW balance sheet. In 2023, the effect reversed, Volkswagen recorded negative effects from raw material hedging transactions of 1.4 billion euros.
If this special effect is included, the profit fell to 5.7 billion euros, which corresponds to a minus of almost a third. However, analysts had expected a bigger crash. In contrast to the other companies, Volkswagen reports the special income in the operating business and not in the financial result.
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