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New Volkswagen to make 11 billion euros in very first half of 2021

Volkswagen production

The group has actually launched initial crucial information.

( Photo: dpa)

Wolfsburg The Volkswagen Group is progressively recuperating from in 2015’s Covid-19 crisis. Even an extreme lack of chips will not stop the healing in the meantime. In the very first half of the year, the Wolfsburg-based car manufacturer taped a significant enhancement in running earnings and capital from its automobile company. Volkswagen launched the 2 essential figures ahead of schedule on Friday. Complete half-year outcomes will be revealed at the end of the month.

According to the group, client sales grew “robustly” in the very first half of the year. This led to high sales and high operating efficiency. As an outcome, the net capital of the automobile company has actually likewise established “really favorably”. In regards to consumer shipments, regardless of the absence of chips, Volkswagen has most likely went back to the very same reasonably typical level of 5 million lorries it had in 2019 prior to the crisis. In the very first half of in 2015, the group provided simply 3.9 million lorries to clients around the globe.

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The operating outcome for the very first half of 2021 is roughly EUR 11 billion. The Wolfsburg-based group published an operating loss of around 800 million euros 12 months ago due to the coronavirus pandemic. Volkswagen’s present efficiency is even much better than in the very first half of2019 At that time there were 10 billion euros in profits on the books. In regards to operations, Volkswagen’s earnings in the very first half of 2021 has actually currently exceeded the complete year of 2020.

Such a high operating efficiency likewise amazed most financiers and experts, who had actually anticipated an enhancement, however the numbers weren’t that fantastic. “The relative normalisation of sales figures towards pre-crisis levels provided the group an increase,” stated Frank Schwopp, an automobile expert at NordLB in Hannover. The excellent information provided Volkswagen a considerable boost in its share. In the afternoon, favored shares were noted at 212 euros, up about 6%.

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The group initially took advantage of the excellent sales efficiency of its 2 premium brand names, Porsche and Audi, whose crisis went undetected. Leasing subsidiary VW Financial Services did especially well in the utilized automobile service, tape-recording strong numbers. In addition, the group’s sales figures in the United States enhanced considerably.

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Question mark in essential China service

With net capital from the vehicle service, Volkswagen is valued at around 10 billion euros, so it’s back to regular. A year earlier, at the very first peak of the Covid-19 crisis, the Wolfsburg-based group obviously lost 4.8 billion euros. Throughout this year, that enhancement has actually emerged. After the very first quarter of 2021, net capital will be 4.7 billion euros.

Whether Volkswagen will feel the chip lack more significantly in the 2nd half of the year, however, is uncertain. “The damage from the semiconductor traffic jam has actually moved and is most likely to trigger damage in the 2nd half of the year,” the business stated in a declaration.

In the very first quarter, Volkswagen was not able to produce about 100,000 cars due to an absence of chips. In the 2nd quarter, it needs to have at least a comparable magnitude. Financier circles now anticipate a significant enhancement in chip supply as early as the 4th quarter.

For the very first time, enigma have actually likewise emerged in the essential Chinese organization, where the Volkswagen Group offers about 40 percent of its cars. “There, returns fell listed below 10 percent for the very first time in a long period of time,” the business circle stated. Earnings from the Chinese subsidiary have actually been great in the past, moving a minimum of 3 billion euros of extra earnings to Wolfsburg.

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With benefit from China currently consisted of in Volkswagen’s unannounced monetary outcomes, there are no brand-new indications of Chinese weak point in the present operating outcomes. In China, the Volkswagen automobile brand name is more impacted by the absence of chips. Skoda’s income there is likewise not excellent.

So CEO Herbert Diess is still succeeding. The release of essential information might likewise assist him personally. In the afternoon, Volkswagen’s supervisory board talked about a possible agreement extension for Diess– practically precisely when brand-new monetary figures for the very first half of the year were launched.

more: VW manager Herbert Diess: ‘We’ll quit a lot due to the fact that of the speed limitation’

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