Volkswagen: first-half revenue and profit up
(CercleFinance.com) - Volkswagen Group saw its deliveries fall by almost 3% in the first half of 2019, but this did not prevent the German auto giant from boosting its revenue and profit over the period.
Group revenue rose by 4.9% to 125.2 billion euros in the first six months of 2019, with operating profit before special items up 1.9% at 10 billion euros.
VW said it benefited from improvements in the mix and price positioning, as well as lower special items compared with the previous year.
Deliveries to customers, however, slipped to 5.4 million vehicles, from 5.5 million vehicles in the first half of 2018.
"The group performed very well in a generally weaker overall market," Volkswagen commented.
The carmaker also confirmed its full-year outlook, still expecting deliveries to be "slightly higher" than in 2018, despite "challenging" market conditions.
The shares were up 0.2% in Frankfurt after these results were published.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Group revenue rose by 4.9% to 125.2 billion euros in the first six months of 2019, with operating profit before special items up 1.9% at 10 billion euros.
VW said it benefited from improvements in the mix and price positioning, as well as lower special items compared with the previous year.
Deliveries to customers, however, slipped to 5.4 million vehicles, from 5.5 million vehicles in the first half of 2018.
"The group performed very well in a generally weaker overall market," Volkswagen commented.
The carmaker also confirmed its full-year outlook, still expecting deliveries to be "slightly higher" than in 2018, despite "challenging" market conditions.
The shares were up 0.2% in Frankfurt after these results were published.
Copyright (c) 2019 CercleFinance.com. All rights reserved.