Operating profit during the 2017’s first quarter rose 40 percent for the VW Group, at 4.37 billion euros, up from 3.13 billion euros posted last year.
The strong results come as a sign that the company’s cost cuts are working and despite of the declining sales for the same time period.
The company’s sales revenue also rose by 10.3 percent to 56.2 billion euros, with the operating return on sales scoring a 7.8 percent, up from 6.1 percent last year.
“Our efforts to improve efficiency and productivity across all areas of the Company are also paying off,” said Matthias Müller, VW Group’s CEO. “We are encouraged by the strong results presented today. They strengthen our resolve to continue our chosen path with TOGETHER – Strategy 2025.”
VW brand saw its operating profit rising from 73 million to 869 million this year, following volume and margin-related factors, positive exchange rates and the Group’s general realignment of structures.
Audi’s profit was slightly decreased, achieving 1.2 billion euros, over 1.3 billion last year while Skoda continued its great performance, posting a profit of 415 million, an increase of 31.8 percent. Audi’s results also include Lamborghini and Ducati.
Seat slightly improved its results, posting 56 million euros in profit against 54 last year while Porsche remained a strong player, gaining 932 million against 855 million for the same period of time last year. Bentley was able to narrow its operating losses down to 30 million euros, from last year’s 54 million.
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