Volkswagen Group - raises outlook for 2021 after a record result in the first half of the y.
- Strong financial performance driven by premium brands and Financial Services
- Operating result reaches a record level of EUR 11.4 billion despite continued
- challenging conditions; Group’s operating return on sales at a strong 8.8 percent
- Earnings before and after tax improved significantly to EUR 11.2 billion and EUR 8.5 billion, respectively
- Automotive Division: Very high adjusted net cash flow of EUR 12.3 billion; net liquidity increases to EUR 35.0 billion
- Group outlook for operating return on sales for full year 2021 raised by 0.5 percentage points to 6.0 to 7.5 percent; expectations for net cash flow also raised
- CEO Diess: “We’re keeping up our high pace, both operationally and strategically. The record result in the first half of the year is clear proof of how strong our brands are and how attractive their products are. The premium segment performed especially well with double-digit returns, as did Financial Services. Our electric offensive is picking up momentum.“
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