Mexican Media Brands
VW’s Quarterly Profit Climbs 18%
Volkswagen AG's earnings before taxes and interest advanced to about €3.1 billion in October-December 2013 from €2.6 billion in the same period a year earlier.
#economics
Share
Volkswagen AG's earnings before taxes and interest advanced to about €3.1 billion in October-December 2013 from €2.6 billion in the same period a year earlier. Surging sales by the group's Audi and Porsche units offset higher operating costs.
Fourth-quarter revenue grew 6% to €51.3 billion. Unit sales rose 6% to 1.88 million vehicles.
For the full year, VW's operating profit advanced 2% to a record €11.7 billion. Net income plunged 52% to €3.1 billion compared to 2012, when earnings were boosted by the consolidation of Porsche AG's results.
VW's vehicle deliveries in 2013 grew 5% to 9.73 million, and revenue climbed 2% to €197 billion. Net liquidity jumped to €16.9 billion from €10.6 billion in 2012. VW says it plans to hike its dividend to €4 per share from €3.50.
The group, whose operating profit margin was 5.9% in 2013, predicts this year's margin will be between 5.5% and 6.5%. VW says its challenges include fierce competition, exchange rate volatility and fluctuations in the cost of raw materials.
RELATED CONTENT
-
on the Genesis GV60 interior, EV sales in H1, Bentley Bentayga's wood work, Faurecia's advanced manufacturing & more
The strange glowing orb in the Genesis GV60. . .global EV sales in the first half. . .creating wood for the Bentayga interior. . .the importance of material handling at Faurecia. . .lux ATPs. . .fast Porsche. . .fast Lambo. . .the Avalon Hybrid. . .Silverado steel. . .
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.
-
GM, Ford Evaluate Possible Economic Slump
General Motors and Ford say they have bolstered their cash reserves in case the trade war between the U.S. and China triggers a global recession.