An impact of 3,500 million is recorded due to the cessation of its operations in Russia and the departure of Argo AI
MADRID, 28 Oct. (EUROPA PRESS) -
The Volkswagen group increased its attributable net profit by 12.7% in the first nine months of 2022, posting profits of 12,253 million euros, according to the quarterly accounts published this Friday by the giant from Wolfsburg (Germany).
The company indicated that the improvement in profitability until September is justified by the push of the premium, sports and luxury vehicle segments and also by the progress of the financial division. Thus, he pointed out that his group of premium brands achieved an operating margin of 14.1% and that of sports and luxury firms, 19.4%.
Volkswagen stressed that these figures are the result of the pricing policy it has carried out and the progress in reducing costs, factors that managed to alleviate the negative impact of 1,600 million euros linked to the suspension of its activity in Russia and the costs associated with the IPO of Porsche.
Likewise, the company's results until September also experienced an extraordinary charge amounting to 1,900 million euros derived from its departure from the Argo AI company, as Ford did, to focus on its own development of autonomous driving technologies.
The consortium led by Oliver Blume obtained revenues of 202,997 million euros in the first three quarters of the current year, an 8.8% increase, while its global registrations fell by 12.9%, to 6.05 million units .
The operating profit of the company reached 17,097 million euros, a 22.5% increase, while the volume of the workforce worldwide grew by 0.3%, to 674,900 workers. Gross profit took off 19.2%, with 16,970 million.
By brands, the Spanish Seat ended the nine months with operating losses of 10 million euros, bordering on the 'breakeven', after reducing by 93.7% the losses of 159 million euros from a year earlier.
Volkswagen Passenger Cars, for its part, registered an operating profit of 3,720 million euros as of September, a 50% year-on-year increase, while Skoda earned 2,462 million euros, 103% more, and Volkswagen Commercial Vehicles shot up 547% of its revenues. earnings, with 356 million euros.
Audi's operating profit was 6,282 million euros so far this year, a 50% increase and almost doubling the result of Volkswagen Passenger Cars. In addition, Porsche ended the first three quarters of the year with an operating profit of 4,746 million, 41% more.
At the same time, Traton also doubled its earnings for the year, with 954 million (100%), MAN Energy Solutions earned 210 million euros, 70% more, and Cariad ended the period with losses of 1,427 million, a 90% more.
In addition, the financial services division (Volkswagen Financial Services) closed the first nine months of 2022 with an operating profit of 4,399 million euros, which translates into an increase of 19.2%.
The Volkswagen group's forecast for the whole of the current year confirms the initial objectives, with a growth in turnover of between 8% and 13%, while the net liquidity of the Automotive division will grow by 15% year-on-year, before the Porsche's IPO process.
