Volkswagen 2017 Net Profit Doubles; Sees Higher 2018 Sales
February 23 2018 - 10:35AM
Dow Jones News
By Max Bernhard
Volkswagen AG (VOW.XE) said Friday that its net profit more than
doubled in 2017, helped by higher vehicle sales.
Net profit for the year rose to 11.35 billion euros ($13.96
billion), up from EUR5.14 billion a year earlier. Analysts had
expected net profit of EUR11.48 billion.
Revenue increased about 6.2% to EUR230.7 billion from EUR217.3
billion a year ago.
The 2017 results represent Volkswagen's return to pre-crisis
profit levels. In 2014, the year before the company admitted to
having installed software in diesel vehicles that let it dodge
emissions testing, Volkswagen's net profit was EUR10.85
billion.
Looking to the year ahead, Volkswagen said revenue could rise by
as much as 5% and its operating return on sales could be between
6.5% and 7.5%. In 2017, the figure was 7.4%.
The company also expects to "modestly exceed" its 2017 delivery
figure of 10.7 million vehicles.
Write to Max Bernhard at Max.Bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
February 23, 2018 11:20 ET (16:20 GMT)
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