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Wolfsburg (dpa) - Volkswagen is today presenting the details of its final balance sheet for 2020.
From the key data, it is already known that the world's second-largest car company after Toyota also closed the difficult Corona year with profits of billions - the twelve-brand group succeeded in more than compensating for the slump in the second quarter.
Above all, business picked up again towards the end of the year.
Further information from the individual offshoots such as the core brand VW Pkw, Audi or Porsche is expected.
The remuneration report with the salaries of the Board of Management should also generate interest.
And the management around CEO Herbert Diess could give another outlook for the current year.
After taxes, VW had a total of around 8.8 billion euros in the cash register.
If you take the year before the pandemic as a benchmark, however, the setback becomes clear: In 2019, the group had achieved an after-tax result of a good 14 billion euros.
There were also noticeable losses in almost all of the other indicators.
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Recently, sales had risen again in many countries.
The demand for electric and hybrid models in particular increased - but this was also due to government subsidy programs and tax breaks.
Internally, there were also further fixed cost reductions.
The VW brand wants to cut more jobs, for example through partial retirement.
The uncertain corona development continues to hover above all of this for the time being.
In addition, there is a lack of parts in semiconductors for electronic systems.
VW expects a significant increase in sales in 2021 - in 2020, sales fell by 12 percent to 223 billion euros.
The trend in China, the world's largest car market, is likely to remain decisive.
In addition, the planned investments cost a lot of money.
Over the next five years, 35 billion euros will flow into e-mobility alone - together with spending on networking and digitization, a sum of 73 billion euros is estimated.
At the beginning of the week, the group presented further plans.
A separate network of battery cell factories is to be set up, which will make e-cars cheaper and secure the internal supply of important components.
To this end, the ongoing expansion of the Salzgitter plant is being increased, with a total of five more cell plants to follow by 2030.
© dpa-infocom, dpa: 210316-99-838069 / 2