Thursday, 25 April 2013
VW remains confident
Volkswagen AG remains ‘confident’ for the year as sales revenue for the first three months of the year (January – March) remained largely stable at €46.6 billion (January - March 2012: €47.3 billion).
The operating profit of €2.3 billion (previous year: €3.2 billion), has impacted “negatively” on contingency reserves in the areas of passenger cars and power sngineering, among other things.
Profit before tax was €2.7 billion (previous year: €4.2 billion). The prior-year figure had been positively influenced by the “remeasurement” of the options related to Porsche. At €10.6 billion, net liquidity in the Automotive Division remained at a high level, safeguarding the Volkswagen Group's financial stability and flexibility.
“As expected, business in the first quarter was dominated by the difficult economic environment. The markets were sluggish, especially in Europe, and not least in Germany. But we remain confident overall that we can pick up speed over the rest of the year,” said Professor Dr. Martin Winterkorn, chairman of the board of management of Volkswagen AG, in Wolfsburg on Wednesday.
“Despite all the economic uncertainties, the Volkswagen Group is standing by its goals for 2013,” he stressed. ∎