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Automaker Volkswagen says 2007 profit rises euro4.1 billion in 2007

Automaker Volkswagen says 2007 profit rises euro4.1 billion in 2007

German automaker Volkswagen AG said Friday that its 2007 net profit rose 50 percent last year, helped by the record sale of nearly 6.2 million cars worldwide.
The Wolfsburg-based company, Europe's biggest car maker in terms of sales, earned euro4.1 billion (US$6.2 billion) last year compared with euro2.7 billion in 2006, beating the euro3.9 billion (US$5.92 billion) that analysts polled by Dow Jones Newswires had forecast.
The company did not release its fourth-quarter figures but is scheduled to release its complete 2007 results on March 13.
Sales rose to euro108.9 billion (US$165.2 billion) last year, up almost 4 percent from the euro104.8 billion in sales it posted in 2006. Despite the gain, the sales were just under the euro109.8 billion (US$166.5 billion) that analysts had predicted.
The company's pretax profit rose to euro6.5 billion (US$9.8 billion), well above the goal of euro5.1 billion (US$7.74 billion) originally planned for 2008.
Volkswagen, whose brands include Audi, Skoda, Seat, Lamborghini and Bentley, said the number of cars it sold was just less than 6.2 million in 2007, a new record and up nearly 8 percent from the 5.7 million cars it sold in 2006.
As a result, the company said it plans to offer a dividend of euro1.80 (US$2.73) to its shareholders.
Looking ahead, Volkswagen said it expects to increase its overall sales from 2007, across all of its brands.
"In 2008, almost all brands will again present attractive new models, enabling us to selectively complement the group's product portfolio and move into further market segments," the company said in a statement. "We therefore expect deliveries to customers to exceed the record set in 2007, with sales figures rising in the Asia-Pacific and Central and Eastern Europe regions in particular."
Shares of Volkswagen rose .03 percent to close at euro149.99 (US$227.49) in Frankfurt trading after the figures were released.
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On the Net:
http://www.volkswagen.com


Updated : 2021-04-11 19:03 GMT+08:00