Volkswagen expects first-half operating profit of EUR 11 billion

Volkswagen AG (VOWG) said last week that it expected an operating profit of nearly EUR 11 billion ($13 billion) during the first half of 2021.

The figure would exceed even pre-pandemic levels due to robust demand in Europe and the United States, particularly for premium brands Porsche and Audi as well as for the group’s financial services arm.

In the first six months of 2020, the auto maker reported an operating loss of EUR 1.49 billion, as results were impacted by the COVID-19 crisis.

The company’s automotive net cash flow is projected to come in at nearly EUR 10 billion during the first six months of 2021, according to preliminary estimates. That figure compares with a net cash flow of EUR 5.57 billion in 2019 and negative EUR 4.8 billion in 2020.

The auto maker is due to release its second-quarter earnings report on July 29th.

As of 7:07 GMT on Monday the shares of Volkswagen AG were edging up 0.46% (EUR 1.30) on the day to trade at EUR 282.60 in Frankfurt. Last Friday the stock went up 5.95%, which has been its sharpest single-session gain since March 30th.