Volkswagen Confirms 2023 Guidance After 1Q Revenue Rose
04 Maio 2023 - 03:19AM
Dow Jones News
By David Sachs
Volkswagen on Thursday confirmed its 2023 outlook after
reporting higher revenue in the first quarter driven by vehicle
sales in Europe and North America.
The German auto maker said sales rose to 76.20 billion euros
($84.31 billion), a 22% increase over the first quarter of
2022.
Operating result before special items fell to EUR5.75 billion
from 8.3 billion in the first quarter of 2022, Volkswagen said,
with a 7.5% return on sales. But the car maker highlighted an
increase in operating profit of 35% before valuation effects,
largely from commodity hedging, to EUR7.1 billion. This adjusted
figure puts the company's margin at 9.3%, it said.
Sales figures stem from a recovery of volumes in Europe and
North America, Volkswagen said. Overall, deliveries rose 7.5%.
Battery-electric vehicle deliveries rose 42% to 141,000, and
totaled 7% of all deliveries.
Volkswagen confirmed its 2023 forecast for revenue increase of
between 10% and 15% and an operating return on sales between 7.5%
and 8.5%.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
May 04, 2023 02:04 ET (06:04 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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