WOLFSBURG (dpa-AFX) - Volkswagen Passenger Cars brand's operating profit before special items for fiscal year 2019 increased to 3.8 billion euros from 3.2 billion euros last year. Annual sales revenue rose 4.5 percent to 88.4 billion euros from the prior year.
Volkswagen Commercial Vehicles expects decrease in earnings, Volkswagen Financial Services sees significant increase in sales revenue and record operating profit.
The Audi brand's sales revenue for the fiscal year 2019 declined to 55.7 billion euros from 59.2 billion euros last year. The reason for this was the Group's internal relocation of the multibrand sales companies. Operating profit was 4.5 billion euros, compared to 4.7 billion euros in the previous year.
Sales revenue at the ŠKODA brand increased by 14.5 percent in 2019 to 19.8 billion euros, partly due to initial consolidation following the assumption of regional responsibility for India. Operating profit improved by 0.3 billion euros to 1.7 billion euros.
SEAT's sales revenue was 11.5 billion euros, exceeding the previous year's record figure by 12.7 percent. Operating profit rose to 445 million euros from 254 million euros last year.
Porsche Automotive's sales revenue increased by 10.1 percent to 26.1 billion euros from 23.7 billion euros in the prior year. Operating profit before special items improved by 2.4 percent year-on-year to 4.2 billion euros.
Sales revenue of Volkswagen Commercial Vehicles in fiscal year 2019 was 11.5 billion euros, down from 11.9 billion euros in the previous year. Operating profit declined to 510 million euros from 780 million euros in the prior year.
The sales revenue of Volkswagen Financial Services in the reporting year amounted to 38.0 billion euros, an increase of 15.8 percent on the previous year. Operating profit rose 13.3 percent to 3.0 billion euros. The increase was mainly attributable to business growth.
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