Volkswagen AG has published preliminary financials for the first half of this year. According to the German auto giant, in the first half of the year, shipments of Volkswagen Group products recovered quickly, resulting in strong turnover and operating margins. The automotive business showed “very positive dynamics” in terms of cash flow. In a press release on the preliminary half-year results, it is said that “the semiconductor bottleneck has shifted and is more likely to affect in the second half.” We are talking about a shortage of semiconductor products that hit several industries, starting with the automotive.
So, according to preliminary data, the Volkswagen concern expects that the following indicators will be given in the report for the first half of 2021:
- operating profit – about 11 billion euros;
- the net cash flow of the automotive business is about 10 billion euros.
The full key financials for the first half of 2021 will be released on July 29, 2021.
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