#Finance

The TRATON GROUP increased its sales revenue by 3% to €35.3 billion (9M 2023: €34.2 billion) in the first nine months of 2024 as the market conditions in Europe continued to normalize. This development was essentially driven by a positive market and product mix and by better unit price realization in the TRATON Operations business area. TRATON Financial Services contributed to the Group’s sales revenue growth due to a rise in portfolio volume. Adjusted operating result of the TRATON GROUP was €332 million higher at €3.3 billion (9M 2023: €2.9 billion) and adjusted operating return on sales improved to 9.3% (9M 2023: 8.6%). This was thanks primarily to continued good price management combined with an improved cost structure in the TRATON Operations business area.

Porsche AG continued on its planned course in the first nine months of 2024.

The TRATON GROUP recorded increasing unit sales in the third quarter of 2024 in a normalizing market environment. According to preliminary data, a total of 85,300 vehicles were delivered across the TRATON brands in the third quarter of 2024, up 5% on the prior-year quarter. In the first nine months of the year, unit sales amounted to 245,400 vehicles, equivalent to a decline of 2%.

The Volkswagen Group aims to further increase traffic safety for all road users. The Group brands plan to use sensor and, more recently, image data from customer vehicles in road traffic to continuously optimize driver assistance systems and automated driving functions. Customers will benefit from the improvements through software updates in the vehicle. The continuously improved driving functions enhance driving comfort and contribute positively to overall traffic safety. High-quality data from real traffic situations are central to this continuous optimization of powerful assistance systems. The basic prerequisite for their processing is customer consent, and all data protection regulations are observed. The Volkswagen Group aims to start this initiative in Germany from the fourth quarter of 2024, initially with models from the Volkswagen Passenger Cars and Audi brands. Other Group brands plan to gradually join the initiative and prepare their product portfolios accordingly.

Outlook for 2024 Confirmed. The Volkswagen Group expects the sales revenue to exceed the previous year’s figure by up to 5% in 2024. The operating return on sales for the Volkswagen Group and the Passenger Cars Business Area is likely to be between 6.5% and 7%.

In the year of product launches, Porsche maintains stable sales in the first half of 2024: a total of 155,945 vehicles were handed over to customers worldwide between January and June.

TRATON SE shareholders have approved all items on the agenda for this year’s Annual General Meeting by a large majority. One of the votes resolved on a dividend payout of €1.50 per share for fiscal year 2023, more than twice as high as last year’s figure of €0.70. In addition, the shareholders approved the actions of the members of the Executive and Supervisory Boards for fiscal year 2023 as well as the submitted remuneration report.

TRATON SE will be uplisted from the SDAX to the MDAX, which tracks the performance of the 50 largest companies following the DAX stocks on the Regulated Market of the Frankfurt stock exchange. According to the information provided by Deutsche Börse, TRATON’s admission to this key stock market index will be effective from June 24, 2024.

At the Annual General Meeting of Volkswagen AG, the shareholders followed the proposal of the Board of Management and Supervisory Board and resolved by a majority of 99,99 % to pay an increased dividend of EUR 9.00 per ordinary share and EUR 9.06 per preference share for the 2023 financial year. This corresponds to a payout ratio of 28 per cent and an increase of EUR 0.30 per share. Volkswagen AG is distributing a total of EUR 4.5 billion to its shareholders for the 2023 financial year.

2024 will be a demanding year for the Audi Group. The challenging market environment and supply bottlenecks, especially for V6 and V8 engines, had a particularly negative impact on operating profit in the first quarter of the year. The company also has to manage numerous product ramp-ups. Revenue reached €13.7 billion in the first quarter of the year, while operating profit amounted to €466 million. The operating margin was 3.4 percent. In the first three months of the year, the Brand Group Progressive delivered 402,048 automobiles to customers – a decline of 4.7 percent. The demand for fully electric models, however, increased by 3 percent. Audi registered a significant increase of 13.7 percent in China, with 156,082 models delivered.

The Brand Group Core delivered robust financial results in the first quarter of 2024. With stable vehicle sales and slightly lower sales revenue, the Brand Group Core reported a significant year-on-year increase in operating profit and operating return. At 6.4%, operating return was well within the target corridor of 6-7% for 2024. All brands contributed to this achievement, reporting higher returns on the basis of focused cost management as well as increased implementation of synergy and efficiency measures within the Brand Group. The financial performance in the first quarter felt the impact of offsetting effects – these included, for example, the abrupt termination of government incentives for electric cars in the German market and the related discount measures at the beginning of the year. Furthermore, there was high depreciation attributable to investments in product campaigns and the related ramp-up of electric products.