Volkswagen: 13.3% increase in Q1 sales

(CercleFinance.com) - Volkswagen Group has announced a solid financial performance in Q1, with some key figures even exceeding pre-crisis, Q1 2019 levels, the carmaker says.


At 62.4 billion euros, the group recorded a 13.3% increase in quarterly sales, compared to Q1 2020. At the same time, operating profit "soared" from 0.9 billion euros to 4.8 billion euros, the group reports, as did EBIT... from a token 0.6 billion euros to 4.4 billion euros.

As a result, quarterly EPS has been set at 6.51 euros (compared to 0.84 euro a year earlier), a figure that nevertheless remains below the consensus.

The group's trajectory is driven by strong quarterly growth in vehicle sales (+20.5%), deliveries (+21.2%) and production (+16.1%).

Based on the sales growth of the Q1 2021, the Volkswagen Group is raising its forecast for the current financial year, anticipating an operating return on sales of between 5.5% and 7.0% (instead of its previous estimate of 5%-6.5%).


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