Volkswagen began 2012 with significantly improved results, particularly as regards profits which, in the first quarter, have soared to 3,186 billion euros, marking a growth of 86,1% compared to the same period of the previous year, even if the incorporation of the subsidiary Man, a brand of trucks and heavy vehicles, must be considered in the calculation. Even more growth of pre-tax profits, which rose by 93,4 per cent to 4,3 billion.
Also operating profits showed progress, albeit more limited, increasing by 10,2% to 3,209 billion. The German car brand's total revenue grew by 26,3 percent to 47,326 billion, while vehicle sales increased by 11,3 percent to 2 million 260 thousand.
In the press release released by the company, however, despite the excellent results, Volkswagen preached caution, predicting substantial stability rather than further growth: "Our strong market position and our wide and attractive range of models - reads a press release – will be partially overshadowed by increased competition in a challenging environment, especially in some European countries”.
Late in the morning Volkswagen shares soar on the Frankfurt Stock Exchange: +5,65% to 133,60 euros.
