Volkswagen's H1 revenue drops 23% YoY to €96.1B

Thursday, 30. July 2020 07:37

The Volkswagen Group recorded revenue at €96.1 billion in the first half of 2020, slipping 23% compared to the same period last year, the company announced on Thursday.

Operating profit before special items slumped by €10.8 billion annually to - €0.8 billion, while earnings before tax landed at -€1.4 billion. Group sales revenue fell by 23.2% to €96.1 billion

September 30 has been set as a new date for the annual general meeting for the fiscal year 2019. Given the scale and extent of the impact, the Board of Management and the Supervisory board have proposed a dividend of €4.80 per ordinary share.

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Breaking the News / TF