VW on ‘solid financial footing’

Despite the fall-out from the emission scandal the Volkswagen Group has reported an operating profit before special items of €11.3bn in the first nine months of the year, representing an increase of 10.5%.

The sales revenue of €159.9bn was on a level with 2015 figures, while profit after tax was €5.9bn.

Chairman Matthias Müller said, ‘The figures for the first three quarters show the operational strength of the alliance of brands in the Volkswagen Group. This is a robust base on which we intend to push forward with our planned transformation from car manufacturer to provider of sustainable mobility.

‘In ‘TOGETHER – Strategy 2025’, we have laid out a compelling plan for this transition. As our future programme and the latest quarterly results prove, the Volkswagen Group remains fully operational in spite of the present pressures.’

Chief financial officer Frank Witter added, ‘Despite major challenges and the negative impact of the diesel issue, the Volkswagen Group remains on a solid financial footing.’