By Cecilia Butini

Volkswagen AG said Friday in preliminary results that it swung to an operating profit for the first half and that deliveries to customers continued to recover, leading to strong group turnover.

The German car maker posted preliminary operating profit of around 11 billion euros ($13.03 billion) for the period, up from the operating loss of EUR1.49 billion which it reported a year earlier.

Automotive net cash flow is expected to have come in at around EUR10 billion for the period, Volkswagen said.

The company said that the global bottleneck in semiconductors has shifted and will impact operations in the second half.

Volkswagen is set to report results on July 29.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

July 09, 2021 09:31 ET (13:31 GMT)

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