FRANKFURT, March 3 ― German automaker Volkswagen today said it booked a higher profit in 2022 despite supply chain disruptions and increased costs, and voiced optimism about its performance this year.
VW reported a net profit of €15.8 billion (RM75 billion) for 2022, a 2.6-per cent increase on the previous year, according to results released ahead of schedule.
Sales for the 10-brand group climbed by almost 12 per cent to €279 billion, led by demand for more expensive models.
Europe's largest carmaker said it delivered a “robust performance” in 2022 “despite ongoing supply disruptions and headwinds from higher raw material and energy costs”.
The group expects vehicle deliveries to rise to around 9.5 million this year, from 8.3 million in 2022, as it works through a “strong order backlog”.
“Semiconductor supply and logistics chain issues should ease in the course of the year,” it said.
Revenues are seen growing by 10-15 per cent year-on-year, VW added.
Investors welcomed the positive outlook, with shares in VW jumping more than nine per cent in Frankfurt.
Volkswagen's main rival Toyota sold more than 10 million vehicles last year, holding on to the title of the world's top-selling automaker for the third year running. ― AFP