The Volkswagen Group increased its sales revenue to €95.4 billion in the first six months, up 22.6 percent on the prior-year period (H1 2011: €77.8 billion). Operating profit rose by 6.7 percent to €6.5 billion (€6.1 billion). At 6.8 percent, the operating return on sales after six months was on a level with the first quarter of 2012 (previous year: 7.8 percent). The consolidated operating profit for H1 does not include the €1.8 billion (€1.2 billion) share of the operating profit of the Chinese joint ventures. These companies are included using the equity method and are therefore reflected in the financial result. This was lifted by the strong business performance of the Chinese joint ventures and the improvement in profit recorded by Porsche Zwischenholding GmbH. The updated measurement of the put/call rights relating to Porsche Zwischenholding GmbH at the reporting date also had a positive effect on the financial result. Profit before tax for the first half of the year amounted to €10.1 billion (€8.2 billion) – an increase of 22.1 percent as against the prior-year period. The figure after tax improved by 35.9 percent to €8.8 billion (€6.5 billion).

CFO Hans Dieter Pötsch was also satisfied with developments in the first half of the year. “Against a background of economic uncertainty, our performance so far, our improving cost structures, our flexible production and our technology leadership in many areas mean that we are well equipped to meet the challenges facing us”, said Pötsch. “More than ever before, our sound financial position is paying off.”

Net liquidity in the Automotive Division was €14.9 billion at the end of the first half of 2012, as against €17.0 billion at the end of December 2011. This figure includes cash outflows of €2.1 billion from the increase in 2012 in the stake in MAN SE, the Munich-based manufacturer of commercial vehicles, engines and power engineering equipment, to 75.03 percent of the voting rights and 73.57 percent of the share capital.

Continuing strong demand for Group vehicles around the world saw unit sales by the Volkswagen Group rise 12.4 percent to 4.6 million vehicles (4.1 million) in the first six months. The Group’s share of the global passenger car market increased to 12.4 percent as against 12.3 percent in the prior-year period.

The Volkswagen Passenger Cars brand sold 2.4 million vehicles (2.2 million) in H1/2012. This corresponds to an increase of 9.5 percent compared with the prior-year period. The Fox, Tiguan, Touareg and Sharan models recorded the highest growth rates. Demand for the up!,Beetle and CC models was also particularly strong. Despite upfront expenditures for the Modular Transverse Toolkit, operating profit improved by 3.8 percent to €2.2 billion (€2.1 billion).

Volkswagen Commercial Vehicles sold 228,000 vehicles (218,000) in the first six months, up 4.8 percent on the previous year. Operating profit rose by €7 million compared with the first half of 2011 to €242 million. Volkswagen Financial Services generated an operating profit of €665 million in the period from January to June, exceeding the prior-year figure by €111 million on the back of volume and currency-related factors.