Herbert Diess, CEO of Volkswagen
(Image source: Imagoeconomica)
Volkswagen, the German automotive group confirms the 2022 guidance
Sales up by 0.6% to 62.67 billion euros, theebitda grows by 22.1% to 712 million euros, while the Operating income records an increase to 8.45 billion euros with a jump of 75.5%: the German automotive group Volkswagen archive the quarter with a positive operating balance, but with revenues below expectations for 62.74 billion euros, up 0.6% year on year: the consensus Bloomberg indicated revenues for 63.54 billion. L’useful on the other hand, it jumped to 6.56 billion euros, more than doubled from 3.24 billion in the same quarter of 2021.
The German colossus confirms its estimates for 2022, it also expects an increase in research and development expenses by 10%. For Herbert DiessCEO of the group “even in a more polarized world, Volkswagen is firmly committed to expanding its global presence to increase profitable growth in the future. “
In the note Volkswagen announced it has maintained its outlook for the current year after its global manufacturing network helped it offset supply chain disruptions caused by the war in Ukraine and the coronavirus pandemic.
In detail Volkswagen said it continues to expect an 8% -13% sales increase and 7% -8.5% operating profit margin in 2022, confirming the support it received from its global network that allowed it to move parts and components in the regions and brands that needed them most. “As a truly global company, we have extensive manufacturing capabilities in all major growth and sales markets around the world,” said the CEO Herbert Diess.
“The global configuration of Volkswagen has helped us mitigate many of the negative effects we are currently seeing. “The company again stressed the uncertainty stemming from the conflict in Ukraine and the pandemic, adding that the company cannot currently predict the full impact that a deterioration in the situation would have on its operations. Volkswagen it also confirmed that it could list the luxury division Porsche in an initial partial public offering later this year and said they still expect the chip offering to improve in the second half of the year.
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