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Volkswagen Q2 profit climbs on higher unit sales

Staff Writer |
Volkswagen reported that its second-quarter profit after tax surged to 3.19 billion euros from last year's 1.21 billion euros.

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Profit before tax was 4.34 billion euros, up from 1.61 billion euros a year ago.

The company said the prior-year results had been negatively affected by special items of 2.49 billion euros.

Operating profit increased to 4.55 billion euros from 1.90 billion euros a year ago.

Operating return on sales grew to 7.6 percent from the prior-year 3.3 percent. Adjusted operating profit grew 3.7 percent from last year.

Group sales revenue rose 4.7 percent to 59.67 billion euros from last year's 56.97 billion euros.

Deliveries to customers in the quarter grew 2 percent to 2.661 million units.

Vehicle sales increased 1.4 percent to 2.66 million units.

Production was 2.70 million units, down 0.6 percent from last year.

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