VWG reports 2019 sales growth
The Volkswagen Group has reported an increase in sales revenue in 2019 by €16.8bn to €252.6bn and operating profit before special items rose to €19.3bn (£16.5bn).
At 7.6, the operating return on sales before special items slightly exceeded the forecast range for 2019. Operating profit also improved to €17bn.
In the Automotive Division, net cash flow increased markedly to €10.8bn, with net liquidity reaching €21.3bn.
Frank Witter, member of the Group Board of Management responsible for Finance and IT, said: “In 2019, our attractive product portfolio convinced many customers, allowing us to expand our position in an overall declining market. We increased sales revenue and operating profit of the Group as well as net cash flow and net liquidity in the Automotive Division, which means that financially we are still very robust.
“We expect a continuously challenging market environment this year. Consequently, achieving our ambitious targets will require a major effort from the entire company,” Witter said.
One of the drivers of the Volkswagen Group’s operating profit in 2019 was the slight increase in deliveries to customers, which rose to 10.97 million vehicles. Growth was recorded above all in Europe and South America, while deliveries to customers in North America and the Asia-Pacific region slightly declined due to overall market trends.