Volkswagen group operating profit rose EUR0.2bn to a record EUR11.7bn on sales up 2.2% to EUR197.0bn in 2013.

Pretax profit fell to EUR12.4bn from EUR25.5bn with VW explaining “the 2012 figure was significantly influenced by measurement effects totalling EUR12.3bn from the integration of Porsche”.

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Profit after tax was EUR9.1bn (EUR21.9bn).

Vehicle deliveries to customers rose 4.9% to a record 9.73m.

Volkswagen said it would “moderately increase” deliveries to customers in 2014 “in a still challenging market environment”.

“Challenges… will come from the difficult market environment and fierce competition, as well as interest rate and exchange rate volatility and fluctuations in raw materials prices.

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“The modular toolkit system, which we are continuously expanding, will have an increasingly positive effect on the group’s cost structure. Depending on the economic conditions, we expect 2014 sales revenue… to move within a range of 3% around the prior-year figure.”

The group expects an operating return on sales of between 5.5% and 6.5% in 2014 in light of the challenging economic environment, and the same range for the passenger cars segment.