Volkswagen posts a strong first half

Volkswagen Passenger Cars brand sees a marked increase in deliveries, sales revenue and earnings in the first half of 2021 despite considerable challenges

Sales revenue of EUR 40.7 billion, operating profit of EUR 1.8 billion, operating net cash flow of EUR 0.8 billion

Volkswagen CFO Alexander Seitz: "Strict cost discipline and higher volumes are giving a boost to our financial figures"

Effects of the semiconductor shortage minimized through smart management of the markets and warehouse management " "very challenging" third quarter expected

Outlook for 2021 as a whole of an operating return on sales between 3 and 4 percent confirmed

Volkswagen finished the first half of 2021 on a successful note thanks to efficient crisis management, strict cost discipline and systematic implementation of its ACCELERATE strategy. Despite the coronavirus pandemic and the semiconductor shortage, the number of vehicles delivered worldwide rose to around 2.7 million " 500,000 more than in the previous year. This increase was partly achieved through smart warehouse and supply management. Market share was also expanded in nearly all regions. Sales revenue climbed by 42 percent year-on-year to EUR 40.7 billion on the back of significant growth in sales volume (H1 2020: EUR 28.6 billion). Earnings improved by EUR 3.3 billion year-on-year to around EUR 1.8 billion, giving an operating return on sales of 4.4 percent.