Volkswagen Group Makes More Profit In 3 Quarters of Year 2011 Compared To Year 2010 Profits

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The Volkswagen Group has earned more in the first nine months of 2011 than in the whole of 2010. Operating profit rose to € 9.0 billion, up from €7.1 billion in fiscal 2010.

 

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The Volkswagen Group strengthened its position in the automotive markets, recording a 14.1 percent increase in vehicle deliveries to 6.2 million (January – September 2010: 5.4 million). Global market share climbed to 12.4 percent (11.6 percent). Sales revenue increased by 25.6 percent in the first nine months to €116.3 billion (€92.5 billion). Operating profit jumped 86.0 percent to €9.0 billion (€4.8 billion) and the operating return on sales improved to 7.7 percent (5.2 percent). The consolidated operating profit does not include the Group’s €1.9 billion share of the operating profit from the Chinese joint ventures (€1.4 billion). These companies are included using the equity method and are therefore reflected in the financial result. In particular, the updated measurement as of the reporting date of the put/call options on Porsche Zwischenholding GmbH had a positive effect on the financial result. Profit before tax tripled to €16.6 billion (€5.4 billion). The profit after tax improved by €9.6 billion to €13.6 billion.

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