The Volkswagen Group significantly increased its profitability in the first half of 2010 and continued its growth path in all key international automotive markets. Deliveries rose by around 16 percent to 3.6 (3.1) million vehicles, lifting the Group’s global market share to 11.7 percent (11.6 percent). Operating profit rose to €2.8 billion (€1.2 billion) on the back of a 20.7 percent increase in sales revenue to €61.8 billion (€51.2 billion). This figure does not include the operating profit of €804 million (€294 million) attributable to Volkswagen from the joint ventures in China. Europe’s largest automobile manufacturer more than tripled its profit before tax, which amounted to €2.6 billion (€0.8 billion) after the first six months. The Group generated a profit after tax of €1.8 billion (€0.5 billion).

Net liquidity in the Automotive Division increased further in the reporting period to €17.5 billion (€12.3 billion), up 42.2 percent year-on-year. The company already recorded cash inflows of approximately €3.0 billion in March from the successful capital increase. An additional cash inflow of approximately €1.1 billion followed in the second quarter. Apart from continuing to improve its financial strength, the Volkswagen Group maintained its strict investment discipline; the ratio of investments in property, plant and equipment (capex) to sales revenue in the Automotive Division amounted to 3.5 percent (5.6 percent).

News complete - Volkswagen Group lifts profitability substantially in first half of 2010