Volkswagen ends the first quarter of 2022 a Operating income equal to 8,45 billion euro (operating margin of 13,5%), with a 75,5% jump every year. THE revenues on the other hand, they stood at 62,7 billion euro, up 0,6%. On the profitability side, EBITDA rose 22,1%, to 712 million. The German automotive giant makes it known in a statement.
The group, which has confirmed its estimates for 2022, also expects a 10% increase in research and development expenses. “Even in a more polarized world, Volkswagen is firmly committed to expanding its global presence to boost profitable growth in the future,” said Herbert Diess, Group CEO.
Forecasts for 2022 confirmed
Volkswagen explains that it can confirm its forecast for the current year thanks to its global production network, which has been able to compensate for supply chain disruptions caused by the war in Ukraine and the pandemic.
“As a truly global company, we have extensive manufacturing capabilities in all key growth and sales markets around the world – continued Diess – Volkswagen's global setup has helped us mitigate many of the negative effects we are currently seeing ”.
In particular, Volkswagen estimates for this year an 8%-13% increase in sales it's a operating profit margin of 7%-8,5% in 2022.
But the uncertainty of war and pandemic still weighs heavily
However, Volkswagen stressed the uncertainty arising from the conflict in Ukraine and the pandemic, adding di unable to predict the full impact that a deterioration of the situation would affect its assets.
Porsche and chips
The group also confirmed that it could listing Porsche luxury division in a partial initial public offering before the end of the year and said it still expects an improvement in chip supply in the second half of the year.
