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2021-02-26 17:05:35 GMT2021-02-27 01:05:35(Beijing Time) Xinhua English
FRANKFURT, Feb. 26 (Xinhua) German automaker Volkswagen said Friday that it achieved better than expected financial results in 2020 despite the coronavirus pandemic, citing factors including a rapid recovery in the Chinese market. The group now expects a significant increase in sales revenue in 2021.
The company s sales revenue amounted to 222.9 billion euros (270.2 billion U.S. dollars), down 11.8 percent from a year ago, mainly due to falling sales amid the pandemic, the company said in a statement. Nonetheless, sales revenue still outperformed sales volumes of 9.2 million vehicles, which registered a 16.4-percent drop.
Operating profit before special items amounted to 10.6 billion euros, despite the effects of the pandemic and 500 million euros for restructuring measures. Earning after tax stood at 8.824 billion euros, 37 percent less than in 2019.