Volkswagen Group Operating Profit Down 2% for First 3 Quarters

VolkswagenVolkswagenGermany, 1938 > present98 models
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Group posted its financial results through the first three quarters, and things look mixed for the German automaker. There are a few interesting blips in the results. 

Sales Revenue was up 24% to €144.2 billion and profit after taxes was up 47.7% to €20.2 billion. However, operating profit was down slightly to €8.8 billion, compared to €9 billion last year.  

Volkswagen's liquidity was down to €9.2 billion compared to €17 billion in December 2011. The loss was caused by investments in the company's new modular transverse layout. 

The group's individual brands posted mix results. Volkswagen Cars has sold 300,000 more cars compared to last year. Operating profit was down €400 million due to getting production of the Golf VIIVolkswagen Volkswagen Golf Gen.7 [VII]Germany, 2012 > present363 versions
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started.

AudiAudiGermany, 1909 > present83 models
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has sold 1 million cars and operating profit is up €200,000. 

SkodaSkodaCzech Rep., 1895 > present57 models
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sales were up 7.9% to 551,000, but operating profit was down slightly to €567 million, compared to €575 million last year.

SeatSeatSpain, 1950 > present29 models
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sales are up to 315,000 cars, compared to 267,000 at this time last year, and profit was down €6 million to €95 million. 

BentleyBentleyUnited Kingdom, 1919 > present37 models
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sales are up 29.4% to 7,000 cars. Profit was up over 100% to €73 million. 

PorschePorscheGermany, 1931 > present43 models
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is part of VW Group's financial information for the first time. It has sold 22,000 vehicles, and its profit was €389 million. 

Volkswagen Commercial Vehicles sales increased by 2,000 cars to 330,000. Profit was €300 million, compared to €328 million last year. 

“Although the times aren’t easy, it’s up to us to systematically continue along our chosen path – the right path. We therefore remain committed to our ambitious goals for 2012, despite growing headwinds”, said Professor Dr. Martin Winterkorn, Chairman of Volkswagen AG.

These figures tell an interesting story. While Volkswagen is still profiting from its cars, and sales are up. Profits for many of its brands are down but just slightly. If things do not change, this could start hurting the company in the near future. Without having Porsche on its books, losses would have been much higher.