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The Spanish division of Volkswagen obtained a net profit of 23.5 million euros last year

Volkswagen Group España Distribución closed last year with a net profit of 23.5 million euros, a 3.2% reduction compared to the 24.37 million it earned in 2020, in the midst of the coronavirus pandemic. According to its annual accounts collected by Europa Press, the turnover of the distributor of the Volkswagen, Audi, Skoda and Volkswagen Commercial Vehicles brands in the Peninsula and the Balearic Islands was 3,027 million euros at the end of 2021, which represents an increase of 2, 5% compared to 2020.

The area that contributed the most to turnover in 2021 was Audi, with revenues of 795 million euros (+3.1%), ahead of imported Volkswagen vehicles, with 762 million euros (-9.3%) and, far behind, the spare parts and accessories division, with 352 million euros, 19% more. The company invoiced 313 million for the sale of used vehicles last year, a 1.8% decrease.

Volkswagen Group Spain earns 23.5 million and exceeds 3,000 million turnover. Last year, the entity recorded an operating profit amounting to 32.51 million euros, which represents a decrease of 3.3%while facing the payment of 7.9 million euros (-0.8%) for taxes on benefits.

The Volkswagen Group Spain Distribution management report, provided by Infoempresa, points out that the company sold more than 126,550 vehicles in the Spanish market last year, which represents a decrease of just under 3%.

Volkswagen ID.  electrical.
Volkswagen ID. electrical.

Regarding the used models, through the firm Das WeltAuto, the corporation reached a trade volume of 14,600 units at the end of last year, which translates into a decrease of 25%, motivated by “lack of product availability” due to the semiconductor crisis.

Provisions

The company recognized provisions amounting to 395 million euros at the end of 2021, “in order to face, among others, commercial, production and legal risks”. In these provisions, the firm highlighted “because of its relevance” the one made for guarantees for the vehicles sold in relation to the ‘dieselgate’ and others for risks related to its activity.

The report points out that, in relation to the problem with the EA189 engines detected in 2015 (‘dieselgate’), the implementation in vehicles equipped with said engines of the appropriate technical solutions approved by the authorities and whose cost is taken over by the company’s German parent, Volkswagen AG.

“All vehicles are technically safe and roadworthy. The Volkswagen group continues to be in permanent contact with the different European authorities for the appropriate purposes, acting quickly and transparently,” he explained. Volkswagen Group España Distribución recalled that on January 25, 2021, the Mercantile Court number 1 of Madrid issued a ruling that condemned the firm to pay 16.3 million euros as compensation to certain owners of the affected vehicles. . This sentence was appealed by the entity.

The workforce at the end of 2021 was made up of 430 people, 2.9% less than in 2020. Of this total, 250 were men and 180 women. The average remuneration of the staff last year was 79,625 euros.

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