VOLKSWAGEN AG Patrik Mayer
Results improved - return on sales within targeted range
Sales*
[million units]
Sales revenue
[billion euro]
Operating profit
before special items
[billion euro]
Return on sales
[in % of sales revenue]
20222023
2.2 | 2.5 |
74 | 86 |
2.6 | 3.5 |
3.6%4.1%
* Volkswagen Passenger Cars only, not including China business
ID.7 Pro - Power consumption in kWh/100 km: combined 16.3-14.1;CO₂-emissions in g/km: combined 0. Information on consumption and CO₂ emissions, shown in ranges, depends on the selected vehicle equipment.
Result impacted by deconsolidation of Russian business and production interruptions due to flooding in Slovenia and semiconductor shortages
Operating profit
before special items | Parts | Business | Slovenia |
[billion euro] | |||
availability | write-down | flooding | |
1.4 | |||
1.0 | |||
0.6 | 0.5 |
Q1 | Q2 | Q3 | Q4 | |
Return on sales | 3.0% | 4.6% | 2.4% | 6.2% |
[in % of sales revenue] | ||||
Cost increases in product and fixed costs overcompensated by volume and
margin improvements
Operating profit | +0.9 |
before special items
[billion euro]
2.5
(0.6) | 3.5 | |
2.6 | (1.0) |
2022 | Volume / | Product costs / | Fixed costs | |
prices | exchange rate | & other | ||
Return on sales | 3.6% | +0.5%p | ||
[in % of sales revenue] | ||||
Sales* | 2.2 | +0.3 | ||
[million units] | ||||
* Volkswagen Passenger Cars only, not including China business
2023
4.1%
2.5
Investment expenditure at record level, but within strategic corridor
CAPEX | 3.5% | 3.5% | 3.4% |
[in % of sales revenue] |
Strategic corridor 3-4%
2021 | 2022 | 2023 | |
Absolute | 2.4 | 2.6 | 2.9 |
[billion euro]
R&D ratio within target corridor to meet transformation objectives
R&D | 4.4% | 5.1% | 4.5% |
[in % of sales revenue] |
Strategic corridor 4-5%
2021 | 2022 | 2023 | |
Absolute | 3.0 | 3.8 | 3.9 |
[billion euro]
ID.7 Tourer Pro - Power consumption in kWh/100 km: combined 16.8-14.5;CO₂-emissions in g/km: combined 0. Information on consumption and CO₂ emissions, shown in ranges, depends on the selected vehicle equipment.
Net cash flow significantly improved mainly due to inventory reduction
Net cash flow
[billion euro]
3.23.0
(0.2)
1.9
0.3
Special items
2021 2022 2023 related to Diesel / Net cash flow M&A
Clean net cash flow
Regions proved resilient in a challenging environment with stable results
Region North America | Region South America |
[Operating profit] | [Operating profit] |
Pesos
devaluation
2020 | 2021 | 2022 | 2023 | 2020 | 2021 | 2022 | 2023 |
Further improvement in return on sales planned in 2024
Return on sales
before special items
[in % of sales revenue]
CAPEX
strategic corridor
R&D
strategic corridor
Actual | Actual | Outlook |
2022 | 2023 | 2024 |
3.6% | 4.1% | 4-5% |
3.5% 3.4% 3-4%
5.1% 4.5% 4-5%
Performance program creates foundation for competitive return on sales
Headwinds | 10 bn. EUR |
Region mix | |
Growth of regions | |
Product mix | 6.5% RoS |
3 - 4% RoS | |
Increase electrification | |
Inflation | |
Labor costs | |
Basis | Target |
2022 / 2023 | 2026 |
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Disclaimer
Volkswagen AG published this content on 14 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 March 2024 11:57:05 UTC.
