Fewer cars, more money – Despite crises: Volkswagen is making huge profits

8.5 billion euros profit in three months
Earnings before interest and taxes, adjusted for special items from the diesel affair, grew to 8.5 billion euros in the first three months, according to preliminary figures. 3.5 billion euros alone came from the accounting increase in value of security agreements. In this way, the group secures prices and quantities of raw materials from suppliers – and the balance sheet value of the contracts increases when prices fluctuate more, as happened recently. As a rule, VW cannot turn this increase in value of the contracts into money on the financial market, because the Wolfsburg-based company is dependent on the delivery of the raw materials agreed therein at the corresponding conditions.