By Kim Richters 

Volkswagen AG on Wednesday confirmed its guidance for the full year despite supply-chain problems and a challenging environment.

For 2022, the German auto maker continues to expect revenue to be 8% to 13% higher than the previous year, and an operating return on sales of between 7.0% and 8.5%.

"However, it is not yet possible to conclusively assess in particular the specific effects of the latest developments in the Russia-Ukraine conflict or effects of the Covid-19 pandemic on the Volkswagen Group's business, on the global economy and growth in the industry in fiscal year 2022," it said.

As reported in April, first-quarter operating profit before special items rose to 8.45 billion euros ($8.89 billion) from EUR4.81 billion and was boosted by positive effects mainly from commodity hedging activities, and the operating return on sales increased to 13.5% from 7.7%.

On Wednesday, Volkswagen said revenue rose to EUR62.74 billion from EUR62.38 billion while after-tax profit increased to EUR6.72 billion from EUR3.41 billion.

The company said it was able to mitigate effects of the semiconductor and wire-harness shortages by moving resources and expects the chip shortage to ease in the second half of the year.


Write to Kim Richters at


(END) Dow Jones Newswires

May 04, 2022 01:51 ET (05:51 GMT)

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