Volkswagen Q1 profits rise but war could still hurt its business

2022.04.14 11:42

Volkswagen logo is pictured at the 2022 New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Brendan McDermid

BERLIN (Reuters) – Volkswagen (ETR:VOWG_p) said on Thursday its preliminary first-quarter operating return on sales jumped to 13.5% from 7.7% in the same period of 2021 but the impact of the war in Ukraine and supply chain bottlenecks was still uncertain.

The German carmaker, which had said in March Russia’s invasion of Ukraine threw its outlook of an 8-13% boost to 2022 revenues into question, added the war could have a further negative impact on its business activities.

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