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Volkswagen Q3 earnings impacted by massive semiconductor shortage
29.10.2021 16:06
Volkswagen Q3 earnings impacted by massive semiconductor shortage – nine-month performance up on the prior year
- Year-on-year improvement in all key financial indicators between January and September
- Sales revenue of EUR 55.5 billion and operating profit of EUR 1.6 billion
- Production losses impact Q3 deliveries and operating profit (EUR -184 million) as expected
- Volkswagen CFO Alexander Seitz: “Despite massive challenges, our performance in the first nine months of 2021 improved on the prior-year period. Systematic reduction of fixed costs and intelligent sales management contributed to this result. Due to enormous production losses, it was not possible to mitigate the impact of the semiconductor shortage in Q3. We anticipate a significantly positive Q4 performance compared with Q3.”
- Outlook for 2021: Improved sales revenue and operating profit expected – operating return on sales of up to three percent targeted
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