Volkswagen Group, Europe’s largest carmaker said its 2011 profit before tax rose by around 10 billion euros to 18.9 billion euros from last year as demand increased for Audi and VW sport-utility vehicles.
The profits were achieved against eight million car sales, which resulted in sales revenue that rose 25.6 per cent to £133bn.
“We have further increased our profitability and impressively demonstrated the robustness of our Group.” CFO Hans Dieter Pötsch said.
All in all, the Volkswagen Group’s profit before tax last year rose by around €10 billion to €18.9 billion. At €15.8 billion (€7.2 billion), the after-tax profit is also a record.
Despite the sales growth, Seat was the only VW Group brand to make an operating loss.
The company also said it expects to increase deliveries again in 2012, helped by new models across the group, which includes brands such as SEAT, Bentley, Lamborghini, and Skoda. It also said it expects higher revenue, though it gave no precise figure.
The stock rose 10 cents, or 0.1 percent, to 139.25 euros in Frankfurt trading today. The shares have gained 20 percent this year, valuing the carmaker at 61 billion euros.
Sales by brand:
Volkswagen Passenger Cars 5.1 million cars in 2011 | operating profit rose by 74.7 percent to €3.8 billion (€2.2 billion)
Audi 1.3 million vehicles (1.1 million) | Operating profit climbed by 60.1 percent year-on-year to €5.3 billion (€3.3 billion)
ŠKODA 879,000 vehicles (763,000) | Operating profit climbed by 66.1 percent to €743 million (€447 million).
SEAT 350,000 vehicles | The operating loss narrowed by a substantial €86 million to €225 million
Bentley 7,003 vehicles (5,117) | operating profit of €8 million
Volkswagen Commercial Vehicles 529,000 vehicles (436,000) | Operating profit improved by €217 million to €449 million (€232 million)
Scania 80,100 trucks and busses (63,700) | Operating profit rose by 2.3 percent to €1.4 billion (€1.3 billion)
MAN 24,750 trucks and busses | operating profit of €193 million