Breaking News
Breaking News

Volkswagen Posts $12.2 Billion Profit in Resilient Pandemic Year

Newsroom Infobae

Compartir
Compartir articulo
A new Volkswagen AG (VW) ID.3 electric automobile inside one of the automaker's Autostadt delivery towers at the VW headquarters in Wolfsburg, Germany, on Monday, Oct. 26, 2020. VW reports third quarter earnings on Oct 29. Photographer: Liesa Johannssen-Koppitz/Bloomberg
A new Volkswagen AG (VW) ID.3 electric automobile inside one of the automaker's Autostadt delivery towers at the VW headquarters in Wolfsburg, Germany, on Monday, Oct. 26, 2020. VW reports third quarter earnings on Oct 29. Photographer: Liesa Johannssen-Koppitz/Bloomberg

(Bloomberg) -- Volkswagen AG said a robust sales recovery in the second half of last year led to strong annual earnings despite fallout from the Covid-19 pandemic.

Operating profit before special items related to the diesel-emissions scandal came in at around 10 billion euros ($12.2 billion) last year, VW said in a statement Friday. Automotive net cash flow was about 6 billion euros.

VW shares reversed earlier losses, rising as much as 1.1% in Frankfurt trading. The automaker will report detailed full-year earnings and provide guidance for 2021 at the end of next month.