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Volkswagen earnings before tax 7.3 billion euros

Staff Writer |
Volkswagen announced the group believes that deliveries in 2017 will moderately exceed the prior-year volume.

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The sales revenues is expected to grow by up to 4 percent year-on-year in 2017.

In terms of the group's operating result, Volkswagen anticipates an operating return on sales of between 6.0 and 7.0 percent.

For 2016, Volkswagen group reported a profit share of 5.1 billion euros for shareholders.

With 7.1 billion euros, the Volkswagen group's operating result turned positive again as well in 2016, despite special items.

The Volkswagen group reported earnings before tax of 7.3 billion euros and earnings after tax of 5.4 billion euros in fiscal 2016.

At 0.2 billion euros, the financial result for 2016 declined by 2.6 billion euros compared to the previous year.

The group said this was mainly due to the income from the sale of Suzuki shares that yielded a distinctly positive effect in 2015.

POST forecast was Q4 EPS $0.74 and revenue $59.17 billion.

The decline was also attributed to lower income from the equity-accounted Chinese joint ventures that were negatively impacted by exchange rate effects.

The group reported that, at 14.6 billion euros, the operating result before special items exceeded the previous year's figure significantly, due particularly to optimized product costs and improvements in the mix.

Volkswagen said the group has plans for more than ten electrified models in 2017/2018 alone and more than 30 new, entirely battery electric vehicles by 2025.

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