Volkswagen's profit goes back in 1.1 billion euros in the quarter

The German automaker Volkswagen announced a 35.2 percent drop in its net income allocated to domain controllers in the first quarter in 12 months, shows the balance sheet published by dawn. The result amounted to 2.03 billion euros, 3.13 billion euros recorded in the same period in 2012.
Despite the low, the figure was above what analysts projected. The average of five analysts polled by FactSet pointed to a profit of 1.89 billion euros. Around 7:15 (GMT), shares of the company rose 1.4 percent in Frankfurt Stock Exchange, being quoted at 144.50 euros.
In three months, the company has achieved a net revenue of 46.56 billion euros, 1.6% decline in comparison with the same period in 2012. The turnover was lower with the continuity of the bad time for the industry in Europe, the market for which the Group sold 3.3% less passenger cars in the quarter, or 900.2 thousand units.
Also contributed to the fall in revenue 6.9% reduction in deliveries to South America, which were 182.5 thousand vehicles. In Brazil, 132.7 million cars were sold, a reduction of 5% on the same comparison, losing 1 percentage point in market share, which closed March in 18.1%.
From January to March, the cost of goods sold was virtually stable, despite the loss in revenues, closing at 38.29 billion euros. In addition, Volkswagen spent 12.7 percent more in distribution (4.62 billion euros) and 17.2% more in administrative matters (1.62 billion euros), which overthrew the 26%, operating profit to 2.34 billion euros.