Wednesday 22 October 2014

VW's profits power ahead by 41%

Published 22/02/2013 | 15:01

Volkswagen has reported a 41 per cent surge in profits for 2012 (AP)

German carmaker Volkswagen AG says its net profit increased 41% for 2012 to 21.7 billion euro (£18.7 billion) on a 21% rise in revenues.

Volkswagen said in a press release ahead of its full-earnings next month that revenues were up to 192.7 billion euro (£166.2 billion). The number of vehicles delivered worldwide last year by the group topped nine million for the first time, rising 12.2% to nearly 9.3 million.

The company says it expects revenue to exceed last year's level in 2013 but that, "given the ongoing uncertainty in the economic environment," its aim is to match the 2012 level of operating profit.

Last year's operating profit came in at 11.5 billion euro (£9.9 billion) , a 2.1 % increase over 2011.

Press Association

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