Volkswagen CFO Alexander Seitz: 'We succeeded in further reducing our fixed cost ratio. Our strict cost discipline, the good progress we have made in implementing our strategic realignment in North and South America, results-oriented management of the markets and significant volume growth are giving a boost to our financial figures.' The operating net cash flow before special items was positive at EUR 0.8 billion. 'This shows that we are well on the way to achieving our goal of an operating net cash flow of between EUR 1 and EUR 2 billion in 2023.'
Outlook for 2021 confirmed
Now that the first six months have ended, the Volkswagen brand confirms its forecast for the current fiscal year. Seitz: 'Although there are signs that the supply bottlenecks for semiconductors are beginning to ease, we expect a very challenging third quarter from a supply perspective. Nevertheless, we are confirming our outlook for the year as a whole. We anticipate a significant year-on-year increase in deliveries and sales revenue in 2021 and still aim to post an operating return on sales in the target corridor between 3 and 4 percent. We are sticking to our target margin of 6 percent by 2023 and aim to position the brand for sustainable profitability.'
Volkswagen AG published this content on 30 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2021 09:08:10 UTC.