Volkswagen: Operating Profit, by year
YearOperating profit,
in million EUR
202322,576
202222,109
202119,275
20209,675
201916,960
201813,920
201713,818
20167,103
2015-4,069
201412,697
201311,671
201211,498
201111,271
20107,141
20091,855
20086,333
20076,151
20062,009
  • Region: Worldwide
  • Time period: 2006 to 2023
  • Published: Mar 2024

Data Analysis and Insights

Updated: Mar 28, 2024 | Published by: Statistico

Recovery and Growth Post-2015

Volkswagen Group's operating profit showcased a remarkable recovery and growth trajectory following the 2015 financial loss of -4,069 million EUR. By 2016, the company not only recovered from this loss but also achieved a profit of 7,103 million EUR, indicating a significant turnaround. From 2016 to 2023, Volkswagen continued on a growth path, culminating in an operating profit of 22,576 million EUR in 2023, which underscores the company's strong recovery and profitability improvements over the years.

Year-over-Year Operating Profit Increase in 2023

The operating profit of Volkswagen Group in 2023 reached 22,576 million EUR, marking a year-over-year increase from 22,109 million EUR in 2022. This 2.1% increase signifies the company's sustained profitability and ability to navigate economic challenges, highlighting its financial resilience and strategic growth initiatives.

Impact of 2020 on Profit Margins

The year 2020 was significantly impacted by global events, resulting in Volkswagen Group's operating profit decreasing to 9,675 million EUR. This represents a drastic reduction from the 16,960 million EUR reported in 2019, illustrating the challenges faced by the automotive industry during that period. Nevertheless, Volkswagen demonstrated robust recovery in the subsequent years, nearly doubling its operating profit by 2023.

Steady Growth from 2006 to 2023

Over the period from 2006 to 2023, Volkswagen Group exhibited a steady growth in operating profit from 2,009 million EUR to 22,576 million EUR. This period includes overcoming the financial downturn in 2015 and facing the challenges of 2020, demonstrating the company's resilience and ability to grow its profitability steadily over the long term.

Decade of Expansion: 2013-2023

Between 2013 and 2023, Volkswagen Group's operating profit showed consistent growth, starting from 11,671 million EUR in 2013 to reaching 22,576 million EUR in 2023. This nearly doubling of profit over a decade highlights Volkswagen's strategic initiatives and operational efficiencies that contributed to its financial success and market position strengthening.

Frequently Asked Questions

What was the operating profit situation of Volkswagen Group post-2015?

Volkswagen Group's operating profit recovered from a loss of -4,069 million EUR in 2015 to 7,103 million EUR in 2016, and further grew to 22,576 million EUR in 2023.

What was the growth in Volkswagen Group's operating profit?

Over a decade (2013-2023), Volkswagen Group's operating profit nearly doubled, growing from 11,671 million EUR in 2013 to 22,576 million EUR in 2023.

Terms and Definitions

Volkswagen Group is a multinational automotive company based in Germany. It is one of the world's leading automobile manufacturers and the largest carmaker by new vehicle sales. The group is comprised of 12 brands from 7 European countries: Volkswagen Passenger Cars, Audi, SEAT, ŠKODA, Bentley, Bugatti, Lamborghini, Porsche, Ducati, Volkswagen Commercial Vehicles, Scania, and MAN.

Operating Profit, also known as operating income or operating earnings, is a measure of the profits a company generates from its operations before taking into account interest and taxes. It's calculated by subtracting the cost of goods sold (COGS) and operating expenses from total revenue. Operating profit measures a company's profitability from its core business operations, excluding the impact of financing activities and tax implications.

Revenue is the total income generated by the sale of goods or services related to a company's primary operations. For automotive companies like Volkswagen, this would include proceeds from selling vehicles and related products, providing automotive services, parts, and accessories.

COGS refers to the direct costs of producing the goods sold by a company. This amount includes the cost of the materials used in creating the goods along with the direct labor costs used to produce them. In the context of Volkswagen Group, this would include car production costs, like materials and labor.

Operating expenses are the costs that are associated with a company's main operational activities. They do not include costs linked to production or manufacturing. These may encompass rent, utilities, salaries of administrative staff, and research and development.
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