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VW half-year balance sheet - expectations exceeded: VW with billions in profit

VW half-year balance sheet - expectations exceeded
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'The result for the first half of the year has clearly exceeded our expectations', said VW boss Martin Winterkorn on Thursday (July 29th) in Wolfsburg. Sales rose by 20.7 percent to 61.8 billion euros.

Core brand VW is doing well

The booming Chinese market and favorable exchange rate effects contributed to the rapid development which benefit VW especially in North and South America.

The core brand Volkswagen Passenger Cars in particular achieved significantly higher profits than in the previous year. The operating result reached one billion euros, after 0.2 billion in the same period of the previous year. The premium brand Audi once again contributed the largest share of the Group's operating profit of 2.8 billion euros - with 1.3 billion euros, after 0.8 billion in the previous year.

VW does not assume that that the development will continue unabated in the second half of the year. Nevertheless, sales and earnings are expected to be significantly higher than the previous year

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