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Volkswagen posts first-half operating profit of US$13 billion

Volkswagen on Friday said first-half operating profit came in at around 11 billion euros (US$13 billion), as demand recovered strongly from a drop caused by the impact of the coronavirus pandemic.

Volkswagen posts first-half operating profit of US$13 billion

FILE PHOTO: An employee fixes a VW sign at a production line of the electric Volkswagen model ID.3 in Zwickau, Germany, February 25, 2020. REUTERS/Matthias Rietschel

FRANKFURT: Volkswagen on Friday said first-half operating profit came in at around 11 billion euros (US$13 billion), as demand recovered strongly from a drop caused by the impact of the coronavirus pandemic.

The group also said that based on preliminary figures for the first six months, reported automotive net cash flow came in at around 10 billion euros.

Volkswagen is scheduled to publish second-quarter results on July 29.

(Reporting by Christoph Steitz, editing by Thomas Escritt)

Source: Reuters

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