Volkswagen surpass the 2010 sales in just nine months
Volkswagen Group has managed to surpass the 2010 sales in just nine months, according to the latest financial report. Commenting on their success, Prof Martin Winterkorn, the Chairman of Board of Volkswagen Group has said that their strong business acumen is the key to their success which is reflected in their passion to survive in the global market.The car maker that have a range of cars in India including Volkswagen jetta and Volkswagen Polo to name a few. The Group CFO, Hans Dieter Potsch giving a brief overview on the performance had said that the Group has acquired the necessary financial stability and are prepared to combat any economic uncertainties in future.
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Volkswagen Group has managed to surpass the 2010 sales in just nine months, according to the latest financial report. Commenting on their success, Prof Martin Winterkorn, the Chairman of Board of Volkswagen Group has said that their strong business acumen is the key to their success which is reflected in their passion to survive in the global market.The car maker that have a range of cars in India including Volkswagen jetta and Volkswagen Polo to name a few. The Group CFO, Hans Dieter Potsch giving a brief overview on the performance had said that the Group has acquired the necessary financial stability and are prepared to combat any economic uncertainties in future.
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He had also added that they are gearing up to materialize their Strategy 2018. The sales revenue has witnessed a spectacular growth of 26% to € 116.3 billion until September as compared to the revenue of €92.5 billion in the year 2010. The Group’s operating profit is also said to increased by 80% from last year’s € 4.8 billion to € 9 billion. The operating margin for the company has taken a major leap from 5.2 % from 2010 to 7.7% with three months to spare. The Group’s net liquidity in 2011, remains on the peak at € 21.2 billion. The gross profit of the company is tripled from € 5.4 billion to € 16.6 billion in the first nine months, which is a major achievement in itself.
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The net profit has also seen a drastic improvement from last year recording a growth of € 4 billion taking it to €13.6 in 2011 from €9.6 billion in entire 2012. However, the Group’s cumulative report does not include the profits from its Chinese subsidiaries. The steep growth in majority is accounted from Porsche Zwischenholding GmbH. The Group has made total investments of € 8.6 billion, a part of which is accounted to take over the trading business of Porsche Holding Salzburg, while another fraction went into the increased investment in their subsidiary MAN SE. The Group’s net assets worth has increased by € 2.5 billion since the beginning to this year taking it to 21.2 billion.
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