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Volkswagen: Automotive Net Cash Position Shows Very Positive Development

Volkswagen AG (VKW.L,VLKAF.PK,VOW.BE) said, based on preliminary figures, for
the full year 2020, the Group expects: operating profit before special items related to diesel of around 10 billion euros; and reported automotive net cash flow of around 6 billion euros.

The company said its deliveries to customers continued to recover strongly in the
fourth quarter and even exceeded the deliveries of the third quarter 2020, leading to strong Group turnover.

The company will disclose its key financial figures for the full year 2020, as well as the official guidance at the end of February.

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