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Volkswagen Q4 profit after tax surged to 7.09 billion euros

Christian Fernsby |
Volkswagen reported that its fourth quarter profit after tax surged to 7.09 billion euros from 2.88 billion euros a year ago.

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Topics: VOLKSWAGEN   

Profit before tax surged to 9.41 billion euros from last year's 3.72 billion euros.

Profit before tax before special items was 9.66 billion euros, compared to 4.80 billion euros a year ago.

Operating profit was 7.98 billion euros, higher than last year's 3.42 billion euros.

Sales revenue for the quarter grew 2.1 percent to 67.40 billion euros from 66.02 billion euros a year ago.

The company said its fiscal 2020 operating profit before special items of more than 10 billion euros significantly exceeded the expectations at the peak of the pandemic in spring 2020.

The company's Board of Management and the Supervisory Board propose to the Annual General Meeting that a dividend of 4.0 billion euros be distributed from net retained profits of 2.4 billion euros.


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