Volkswagen, profit down 20% for China effect

Volkswagen opens 2016 with an increase in operating profit and net profit decline: the German group closed the first quarter with an operating profit of 3.44 billion Euros against 3,228 in the same period of 2015 (+ 3.4%) despite a decline by the same percentage of revenues, decreased to 50.9 billion from 52.7. The decrease in revenues stems in part from the decline in sales (-1.2% to 2.577 million units) and in part by currency factors.

Provisions haven't weighed negatively on the quarter, an event that had brought instead in red 2015 accounts. Indeed, there is a positive effect of 300 million related to the revaluation of provisions for Dieselgate for currency reasons.
In addition, for the first time since the beginning of the scandal, Volkswagen has not made provisions and is seeking to recover the trust of customers after the wave of the scandal. The company has already set aside 16.2 billion last year, to solve the problem of emissions software to 11 million vehicles.