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Volkswagen’s Sales, Operating Profits Stall
Volkswagen AG reports that its revenue in 2018 rose 3% to €236 billion ($267 billion) as unit sales grew 1% to a record 10.8 million vehicles.
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Volkswagen AG reports that its revenue in 2018 rose 3% to €236 billion ($267 billion) as unit sales grew 1% to a record 10.8 million vehicles.
Group operating profit totaled €13.9 billion ($15.8 billion) last year, less than 1% greater than in 2017. Results were dragged down by €3.2 billion ($3.6 billion) in special charges related to the company’s diesel cheating scandal. Operating profits attributed to VW’s ventures in China slipped 2% to €4.6 billion ($5.2 billion).
But the company’s net profit climbed 6% to €11.8 billion ($13.4 billion), prompting VW to propose a dividend hike to €4.80 per common share from €3.90.
VW predicts a slight gain in unit sales in 2019 in spite of stronger headwinds caused by “continuously challenging” markets. The company expects its revenue will grow by as much as 5% this year.
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