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Volkswagen Q3 Operating Result Before Items Rises; 2022 Deliveries To Be Similar To Last Year

Volkswagen Group (VKW.L,VLKAF.PK,VOW.BE) reported third quarter operating result before special items of 4.3 billion euros, an increase of 52.6% from last year. Earnings after tax was 2.1 billion euros, down 26.5%. Sales revenue were 70.7 billion euros, up 24.2%.

Volkswagen confirmed the outlook from July 28, 2022, in most material aspects. However, the company now expects deliveries to be similar to prior year level due to continued supply chain constraints. Sales revenue in 2022 is expected to be 8% to 13% higher than in the previous year, and that of the Passenger Cars Division 5% to 10% higher. In terms of operating margin, the Group continues to expect to come in at the upper end of the corridor of 7 to 8.5%.

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