Volkswagen earnings up 40 percent in 2012

Germany's Volkswagen says full-year earnings increased 41 percent last year to $28.7 billion

Associated Press

BERLIN (AP) -- German automaker Volkswagen AG says its net profit increased 41 percent for 2012 to €21.7 billion ($28.7 billion) on a 21 percent rise in revenues.

Volkswagen said in a press release Friday ahead of its full-earnings next month that revenues were up to €192.7 billion. The number of vehicles delivered worldwide last year by the group topped 9 million for the first time, rising 12.2 percent to nearly 9.3 million.

The company says it expects revenue to exceed last year's level in 2013 but that, "given the ongoing uncertainty in the economic environment," its aim is to match the 2012 level of operating profit.

Last year's operating profit came in at €11.5 billion, a 2.1 percent increase over 2011.

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