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Volkswagen to present detailed 2017 figures

Europe
13.03.2018
By our dpa-correspondent and Europe Online    auf Facebook posten  Auf Twitter posten  
Hanover, Germany (dpa) - Following a strong performance last year, despite the ongoing diesel emissions scandal, Germany‘s Volkswagen is aiming at a further increase in profits this year.

The focus is on electric vehicles and digitalization as it presents detailed 2017 figures on Tuesday.

The VW Group has already published the key figures for 2017, showing profits attributable to shareholders at 11.4 billion euros (14 billion dollars), twice as high as in 2016.

The figure also surpassed the profits in 2014, the last year before the emissions scandal hit.

Turnover was up 6.2 per cent at 230.7 billion euros year on year, demonstrating that the group was surmounting the debate about diesel bans under consideration in certain German inner cities and huge fines imposed in the United States.

The future structure of the group is set to be a major issue, amid the prevailing trend to holding companies in the automotive sector as seen with Germany‘s Daimler and possibly Continental as well.

According to Frank Schwope, an analyst with the NordLB bank, structures of this kind make for transparency and shorten decision-making processes.

He noted that in VW‘s truck division, with the brands MAN and Scania, the kind of model strategy seen in the car division - for example common engines or axles - was a long way from implementation.

Nevertheless, VW is continuing to eye listing its truck division. "We are keeping all options open on the way to being the global champion," a spokeswoman for Volkswagen Truck & Bus GmbH said at the beginning of March.

 

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