2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36
Europe's largest automaker VW has achieved a new record profit of 15.8 billion euros. The Wolfsburg-based company was able to more than double the result from 2010.
Europe's largest car manufacturer VW more than doubled its profit last year to a record high of 15.8 billion euros. The group announced on Friday in Wolfsburg. Operationally, the group earned 11.3 billion euros - after 7.1 billion euros in the previous year.
Despite the purchase of the majority of MAN and Porsche Holding in Salzburg last year, the VW Group still has 17 billion euros in its cash register. This means that he is ideally equipped for his way to the top of the world, which the VW management wants to achieve by 2018 at the latest.
VW sold 8.3 million cars in 2011
Last year, VW crossed the 8 million mark for the first time with sales of 8.3 million cars. The Wolfsburg-based company increased sales by a good quarter to 159.3 billion euros. Especially in the world's largest car market - China - VW had achieved the best results month after month. The board of directors wants to propose a dividend of 3 euros per share.
The revaluation of stock options after the merger with Porsche was canceled last year also contributed to the good net result. This resulted in a book profit that has no effect on the actual financial position.
After the surprising announcement of the figures, however, the automaker's papers yielded moderately. Although the Wolfsburg-based company had slightly exceeded the market's expectations in terms of key figures, market observers spoke of little surprise. "Overall, the preliminary numbers are good, but roughly in line with expectations. That's nothing really exciting," said one trader.
The share initially gives way
In a friendly market environment, the Volkswagen share slipped 0.32 percent in the morning to 138.70 and was one of the few losers in the Dax. The leading index rose by 0.78 percent to 6,862.37 points over the same period. The day before, profit-taking had already put pressure on the VW paper and the share closed about 2 percent easier.
The numbers were slightly above his expectations, wrote analyst Michael Punzet in a short study published on Friday. Unfortunately, the carmaker said very little about the purchase of Porsche, he complained. He expects more clarification on March 12, when Volkswagen will present its final balance sheet. Punzet left his recommendation for the title at Buy with a price target of 150 euros. (dpa)
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