Volkswagen Financial Services achieve record result again in 2017
- One billion euro efficiency increase through digitalisation by 2025
- Operating profit increases by 16.9% to EUR 2.46 billion
- Portfolio at new record total (+8.1%) with 19.7 million contracts
- Total assets climb to EUR 186.9 billion (+9.9%)
Volkswagen Financial Services have concluded the financial year 2017 with a new record result. As a result of the digitalisation of the business model, an increase in efficiency amounting to one billion euros will be realised by 2025. "2017 has been very successful for Volkswagen Financial Services. We are very satisfied with the result," says Lars Henner Santelmann, the Chairman of the Board of Management of Volkswagen Financial Services AG. Frank Fiedler, Chief Financial Officer of Volkswagen Financial Services AG, adds: "The good result was primarily based on the positive growth of our current contract portfolio and a lower level of refinancing and risk costs than in the previous year." The financial services division of the Volkswagen Group grew strongly lastyear. Total assets increased by 9.9% to EUR 186.9 billion (previous year: EUR 170 billion), the portfolio of current contracts including all joint ventures reached a new high of 19.7 million units (+ 8.1%, previous year: 18.2 million units), and a record result was attained once again with a figure of EUR 2.46 billion (+ 16.9 %, previous year: EUR2.1 billion).
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