Volkswagen Q2 Profit And Sales Down, Deliveries Up; Cuts FY25 Outlook

(RTTNews) - German auto major Volkswagen Group (VKW.L, VLKAF.PK, VOW.BE) reported Friday sharp drop in second-quarter profit with lower sales revenues, despite higher deliveries.

Looking ahead for fiscal 2025, Volkswagen now expects sales revenue to be in line with the previous year, compared to previous outlook of an increase of up to 5 percent.

The Group's operating return on sales is expected to range between 4.0 and 5.0 percent, lower than previously expected 5.5% to 6.5 percent.

In the second quarter, earnings after tax fell 36.3 percent to 2.29 billion euros from last year's 3.60 billion euros. Operating result dropped 29.4 percent to 3.83 billion euros from 5.43 billion euros a year ago.

Sales revenue declined 3 percent to 80.81 billion euros from 83.34 billion euros in the prior year.

Deliveries to customers, however, grew 1.2 percent from last year to 2.27 million units. Vehicle sales edged up 0.2 percent to 2.26 million units, while Production dropped 0.6 percent from last year to 2.33 million units.

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