supply chain impacts could also be seen with deliveries from suppliers in ukraine being limitedfrankfurt german auto giant volkswagen said thursday its first quarter operating profit increased significantly in 2022 while warning that the first effects of the war in ukraine were beginning to be felt the groups operating profit a measure of profitability closely watched by investors rose to 85 billion euros 93 billion over the first three months of the year from 48 billion euros in the same period last year according to preliminary figures the boost was down to strong operating performance and a positive effect of 35 billion euros thanks to hedges against the changing price of raw materials advt the turbulence on commodities markets could be traced back to the ongoing war in ukraine which has pushed up prices volkswagen said in a statement supply chain impacts could also be seen with deliveries from suppliers in ukraine being limited the lack of critical car parts has already forced volkswagen along with other german carmakers to curtail production at some plants while exports to russia have been halted the course of the war and the impact on volkswagen cannot be predicted with sufficient certainty but risked having a negative impact on the wolfsburgbased group volkswagen also said it delivered some 500000 fewer cars in the first quarter of 2022 than in the previous year a 22percent drop the continued impact of the coronavirus pandemic which has recently led to widespread lockdowns in china a key market also loomed over the auto manufacturers future performance as did the possibility of further disruption to supply chains especially for semiconductors a key component in both conventional and electric vehicles the two effects already conspired to make business difficult for volkswagen in 2021 despite net profits rising by 75 percent to 154 billion euros the 12brand group delivered 600000 fewer units last year as lockdowns and shortages caused interruptions in production advt also readvolkswagen rejects shareholder push for climate lobbying disclosuresthe statement said volkswagen had rejected the proposal on the grounds that the issue was deemed to be beyond the competence of the general meetingsee more details afp published on apr 14 2022 at 0511 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context spam others report join the community of 2m industry professionals subscribe to our newsletter to get latest insights analysis download etauto app get realtime updates save your favourite articles scan to download app impact of russia ukraine war volkswagen supply chain impact commodities market raw materials auto parts homenewsvolkswagen sees impact of ukraine war despite profit bounce