VW Slovakia's Gross Profit in 2021 Down 5 percent Y-o-Y to €264 million

Bratislava, April 28 (TASR) - Volkswagen Slovakia, the biggest carmaker in the country, made a gross profit of €264 million with a turnover of €9.53 billion in 2021, head of the company board Oliver Gruenberg and board member Frank Roesler reported on Thursday. Compared to 2020, when the company notched up a profit of €278 million, VW Slovakia’s profit last year shrank by approximately 5 percent. Despite the slight decrease, the company retained its status as the biggest contributor to the public budget for the fifth consecutive year. The company's investments in 2021 nearly doubled year-on-year to reach €100 million, and cumulatively exceeded €4.75 billion over three decades. Hundreds of millions of euros more have been approved and will be used in the coming months to launch new production of the Volkswagen Passat and Skoda Superb. The chairman of the board of VW Slovakia stated that although demand for cars on the global market has increased, the company's production situation is hampered by an unstable supply chain, which is affected by the global shortage of semiconductors. VW Slovakia managed to manufacture 308,990 vehicles of five brands last year. Almost 70 percent of the output was made up of SUV models. The share of electric and plug-in hybrid vehicles rose to 28 percent. In terms of turnover, the largest export markets were China with a share of 25 percent, Germany with 18 percent and the USA with 17 percent. In addition to vehicles, the company produced 26,410 transmissions, 19.7 million components and 3,530 tools for production plants last year. zel/df