#Finance

– Volkswagen Group achieved strong deliveries and sales revenue growth in the first nine months of FY 2023. Deliveries increased by 11 percent year-on-year to 6.7 million vehicles (Q3 2023: 2.3 million vehicles; +7.0 percent). Sales revenue grew by 16 percent to 235.1 billion euros (Q3 2023: 78.8 billion euros; +12 percent). The order bank at the end of the third quarter of 2023 remained at a high level of 1.4 million vehicles in Western Europe alone. Net liquidity in the Automotive Division remained very solid at 36.7 billion euros.

The TRATON GROUP has delivered a strong performance in the first nine months of 2023 with significant increases in unit sales, sales revenue, operating result, and operating return on sales and is now raising its forecast for full-year 2023.

TRATON has successfully set up a commercial paper (CP) program with a volume of €2.5 billion.

The Volkswagen Group’s Brand Group Core continued its development in the first half of 2023. Thanks to intensified cooperation between the sister brands Volkswagen, ŠKODA, SEAT/CUPRA and Volkswagen Commercial Vehicles, efficiency and profitability increased through the entire brand group. The new designation of Brand Group Core reflects the central role of the brand group as the backbone of the Volkswagen Group. With its new steering model, the Volkswagen Group’s ambition is to leverage the performance of the brand groups as efficiently as possible while at the same time harnessing the Group’s economies of scale to the greatest possible effect.

Volkswagen Group posted solid H1 results for 2023, with rising sales revenue and strong underlying operating profit. This is in line with the Group’s “value over volume” strategy, announced at the recent Capital Markets Day. The Group's BEV strategy is also making further progress, with deliveries in the first half of the year increasing by around 50 percent year-on-year. In Europe, the Group increased its BEV deliveries by as much as 68 percent, underscoring its position as market leader in Europe. As the year progresses, significantly shorter delivery times, the remaining high order bank of 1.65 million vehicles and stable demand should provide further tailwinds. The solid net liquidity of EUR 33.6 billion in the Automotive Division also gives the Group the necessary strength and flexibility to continue investing in key regions and growth areas.

The Volkswagen Group increased its deliveries of all-electric vehicles (BEVs) by 48 percent year-on-year to 321,600 vehicles in the first half of the year. The BEV share of total deliveries rose to 7.4 percent, up from 5.6 percent in the first six months of the previous year. The Group achieved the highest growth in Europe, where deliveries rose by 68 percent to 217,100 BEVs. Here, the Volkswagen Group is the market leader and gained market share. Significantly more customers of a Group brand took delivery of their all-electric vehicles in the USA, too. The increase here was 76 percent to 29,800 vehicles. In China, deliveries were around two percent below the previous year's level at 62,400 BEVs in a particularly competitive market environment. Recently, however, the trend here has also been positive. Following a lower first quarter, 18 percent more BEVs were handed over to customers in the world's largest automotive market in the second quarter than in the prior-year period. Worldwide, the increase in the second quarter was 53 percent to 180,600 vehicles (118,000), and the BEV share of total deliveries rose to 7.7 percent (6.0) in this period.

The Volkswagen Group is undergoing the biggest transformation process in its history as it evolves from an international automotive company into a software-centric global leader in sustainable mobility by 2035.

At the Annual General Meeting of Volkswagen AG, the shareholders voted by a majority of 99.99 percent to approve the recommendation of the Board of Management and the Supervisory Board to increase the dividend for fiscal year 2022 to EUR 8.70 per ordinary share and EUR 8.76 per preferred share. This corresponds to a payout ratio of 29.4 percent and an increase of EUR 1.20 per share, which is significantly higher than previous year’s payout ratio of 25.4 percent.

The Volkswagen Group made a solid start to fiscal year 2023. Despite the challenging global environment, operating profit before negative valuation effects, mainly from commodity hedging activities saw a strong increase in the first quarter.

The Volkswagen Group posted solid full year results for 2022, despite global economic headwinds. The results demonstrate that the Group has a strong financial basis on which to build in 2023, with strong margins and a very solid net liquidity in the automotive division. The Group’s BEV strategy continued to advance in 2022 and demonstrated the popularity of the latest model range, with robust performances across all regions. The Group remains the BEV segment market leader in Europe and continues to grow in China. Significant new models arriving in 2023 will add further tailwind and improve the Group’s market position.

Volkswagen Group delivered a robust performance in 2022 with profitability improving despite ongoing supply disruptions and headwinds from higher raw material and energy costs. This was supported by continued pricing discipline, cost progress, and driven by a stronger mix which helped to increase operating profit before special items by EUR 2.5 billion to EUR 22.5 billion. The Group made significant progress in the execution of its strategy in 2022 in particular with the successful Porsche AG IPO, the launch of the Group’s battery company PowerCo with the ground-breaking of the first cell gigafactory in Salzgitter, the start of production of the all-electric ID.4 in the USA as well as the partnership with Horizon Robotics to further strengthening competitiveness in China.

The Volkswagen Group has made significant progress in its electric transformation in 2022. Despite supply constraints and temporary production stops, 572,100 all-electric vehicles were handed over to customers around the globe. Compared to 2021, this is a substantial increase of 26 percent. The BEV share of total deliveries thus reached 6.9 percent, up from 5.1 percent a year earlier. The Volkswagen Group remains the BEV market leader in its home market of Europe and reached the fourth position in this segment in the United States. The strongest increase came from China, were BEV deliveries were up by 68 percent y-o-y. Due to abovementioned challenges, overall global deliveries were down 7 percent on prior year to 8.3 million vehicles. In the second half of 2022, a slightly improved supply situation led to an increase of deliveries of 12 percent y-o-y. However, this could not make up for the losses of 22 percent y-o-y in the first half year. The Group’s order bank remains on a high level of 1.8 million vehicles in Western Europe alone, thereof 310,000 BEVs.