The power struggle with Ferdinand Piëch, he has won, now can VW CEO Martin Winterkorn yet also provide a glossy quarterly balance sheet: the austerity program for the winning weak core brand of the group pays slowly revealed.
Efforts for “greater efficiency and cost-consciousness” would have an amount “in the low three-digit million range” shoveled in the first three months, the company said in Wolfsburg.The proclaimed last summer program is to save at least five billion euros in the core brand around the Golf and Passat models by 2017.
Overall, achieved world’s top carmaker in the start quarter very good figures: The Group with its twelve brands continued in the first three months of nearly 53 billion euros – equivalent to an increase of ten percent compared to the first quarter last year. However, it also helped the positive impact of currency translation.
The bottom line of the Dax Group recorded 2.9 billion euros, an increase of 19 percent. Especially profitable were the daughter brands Audi and Porsche: They scored a total of nearly two-thirds of the over 3.3 billion euros, are as earnings before interest and taxes (EBIT).
CEO Martin Winterkorn said: “We have always stressed that 2015 will be a challenging year for the entire automotive industry and also for us our key figures for the first quarter but prove that the Volkswagen Group despite headwinds on track. drives. “
The number of Volkswagen core brand improved compared to the first quarter of 2014. The operating profit rose by nearly seventeen per cent to 514 million euros as Volkswagen announced. One reason for this are the “positive effects” of the started of Winterkorn austerity program for the core brand.
The VW shares sat down in the morning to the top of the German Stock Index (DAX) and increased by around one per cent to: On the stock market the news were well received.
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