Net profits of €21.7bn for VW

25 Feb 2013

FRANKFURT, GERMANY: Volkswagen, Europe's largest car manufacturing company, said last Friday (22 February) that its net profit rose by more the 40% last year on higher vehicle sales.

VW said in a statement its net profit was €21.7bn last year as revenues rose by 20.9% to €192.7bn, Deliveries to customers were up 12.2% higher as VW sold 9.3m vehicles.

Underlying or operating profit rose by 2.1% to €11.51bn. The group said it would propose an increased dividend of €3.50 per share for 2012 compared with €3.00 per share a year earlier.

Looking ahead, VW said it expected to "out-perform the market as a whole in a challenging environment".

VW cautioned in its statement that the company is "not completely immune to the intense competition" from other manufacturers.

Sales this year are expected to be higher and VW says that it expects to match the operating profits made in 2012, despite the difficult economic environment.

Source: AFP via I-Net Bridge

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za