Volkswagen: raises outlook for 2022
(CercleFinance.com) - The group posted H1 2022 sales of 33.
2 billion euros (-7.3% vs. 35.8 billion euros in H1 2021), despite a significant drop in vehicle deliveries from one year to the next.
Operating profit before special items reached 1.9 billion euros (-37% vs. 1.2 billion euros in H1 2021). The operating return on sales before extraordinary items reached 5.6% (above the 3.4% in H1 2021). The H1 result particularly benefited from a strong Q2, the group said.
Net operating cash flow amounted to 569 million euros in the first six months.
Volkswagen has raised its outlook for operating return on sales before exceptional items to 4%-5% for FY 2022: its previous full-year outlook was for "up to 4%".
This positive outlook has led to the VW share rising - it is currently up over 2.5% in Frankfurt, outperforming the market, which is down about 0.5% at the same time.
Copyright (c) 2022 CercleFinance.com. All rights reserved.