Volkswagen Swung to 1st Half Operating Profit, Reports Recovery in Deliveries
July 09 2021 - 9:41AM
Dow Jones News
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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