Managing Covid-19
Interim Report January - June 2020
Media Webcast and Conference Call, July 30, 2020
Disclaimer
The following presentations contain forward-looking statements and information on the business development of the Volkswagen Group. These statements may be spoken or written and can be recognized by terms such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", "will" or words with similar meaning. These statements are based on assumptions, which we have made on the basis of the information available to us and which we consider to be realistic at the time of going to press. These assumptions relate in particular to the development of the economies of individual countries and markets, the regulatory framework and the development of the automotive industry. Therefore the estimates given involve a degree of risk, and the actual developments may differ from those forecast. The Volkswagen Group currently faces additional risks and uncertainty related to pending claims and investigations in a number of jurisdictions in connection with findings of irregularities relating to exhaust emissions from diesel engines in certain Volkswagen Group vehicles. The degree to which the Volkswagen Group may be negatively affected by these ongoing claims and investigations remains uncertain.
The outbreak of COVID-19 (commonly referred to as coronavirus) has negatively impacted and may continue to impact economic and social conditions in some of Volkswagen's primary markets, including China and Europe, as public, private, and government entities implement containment and quarantine measures. The continued spread of COVID-19 may cause shortages of necessary materials and parts from suppliers directly or indirectly affected by the outbreak and may cause operational disruptions and interruptions at Volkswagen's production facilities, leading to significant production downtimes
A negative development relating to ongoing claims or investigations, the continuation of COVID-19, an unexpected fall in demand or economic stagnation in our key sales markets, such as in Western Europe (and especially Germany) or in the USA, Brazil or China, and trade disputes among major trading partners will have a corresponding impact on the development of our business. The same applies in the event of a significant shift in current exchange rates in particular relative to the US dollar, sterling, yen, Brazilian real, Chinese renminbi and Czech koruna.
If any of these or other risks occur, or if the assumptions underlying any of these statements prove incorrect, the actual results may significantly differ from those expressed or implied by such statements.
We do not update forward-looking statements retrospectively. Such statements are valid on the date of publication and can be superseded. This information does not constitute an offer to exchange or sell or an offer to exchange or buy any securities.
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Media Webcast and Conference Call: January - June 2020
Frank Witter | Dr. Christian Dahlheim | Peik von Bestenbostel |
Chief Financial Officer | Head of Group Sales | Head of Communications |
Volkswagen AG | Volkswagen AG | Volkswagen AG |
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Revised Dividend Proposal: Prudent Approach in light of circumstances
Euro | 6.50 | 6.56 | 4.80 | 4.86 | ||||||
4.80 | 4.86 | |||||||||
Pay-out ratio | 20.4% | 20.4% | 24.5% | 24.5% | 18.1% | 18.1% | ||||
Ords | Prefs | Ords | Prefs | |||||||
Ords | Prefs | |||||||||
Dividend 2019 | Dividend 2020 | Dividend 2020 | ||||||||
proposal as of February | revised proposal as of July 29th |
Carry over of remaining net retained profit of 855 million Euro to 2021
Volkswagen AG still fully committed to the strategic target of a 30% payout ratio!
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Volkswagen Group - Key Figures
(January - June 2019 vs. 2020)
Sales | Revenue |
(in million vehicles) | (in billion euros) |
Operating Profit1) | Operating Margin1) |
(in billion euros) |
-30.0% | |
5.3 | |
3.7 | |
2019 | 2020 |
-23.2% | |
125.2 | |
96.1 | |
2019 | 2020 |
10.0 | 8.0% |
-0.8 | -0.8% | |||||||||||
2019 | 2020 | |||||||||||
2019 | 2020 |
1) Before Special Items
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Development Car Market vs. Volkswagen Group1)
(Growth y-o-y in Deliveries to Customers, January - June 2019 vs. 2020)
Car Market VWGroup
-25,2% | -26,1% |
North America (incl. LCV)
Car Market VW Group
-40,8% | -33,9% |
South America (incl. LCV)
- Volkswagen Group Passenger Cars excl. Volkswagen Commercial Vehicles
- Incl. Light Commercial Vehicles in North America & South America
- Incl. Hong Kong
Car Market VW Group
-28,1% | -26,7% |
World2)
Car Market VW Group
-37,4% | -35,6% |
Europe |
Car Market VW Group
-23,4% | -16,9% |
China3) -22.0% | -16.9% |
Asia Pacific
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Development World Car Market vs. Volkswagen Group Car Deliveries to Customers1)
(Growth y-o-y, January to June 2019 vs. 2020)
Car Market VW Group
-4.4% | |||||||
-10.0% | |||||||
-17.2% | -16.6% | ||||||
-19.8% | |||||||
-28.1%-26.7% | -25.8% | ||||||
-34.1% -32.1% | |||||||
-37.4%-37.7% | |||||||
-43.6% | |||||||
-48.0% | |||||||
HY1 | Jan | Feb | Mar | Apr | May | Jun | |
1) Volkswagen Group Passenger Cars excl. Volkswagen Commercial Vehicles, incl. LCV in North America & South America
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We are entering a new era of electro mobility
ID.3 Pro Performance, 150 kW / combined power consumption in kWh/100 km: 16.9 - 15.4 (WLTP); 15.4 - 14.5 (NEDC); combined CO2 emissions in g/km: 0
ID.3 Pro S, 150 kW / combined power consumption in kWh/100 km: 17.7 - 15.9 (WLTP); 14.1 - 13.5 (NEDC); combined CO2 emissions in g/km: 0
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Performance of Passenger Car Brands
(January - June 2019 vs. 2020)
€bn
Revenue | OperatingProfit1) |
44.1 | 28.6 | 2.3 |
-1.5 | ||
2019 | 2020 | 2019 2020 |
€bn | |
Revenue | Operating Profit1) |
28.8 | 2.3 |
20.5 | |
-0.6 | |
2019 2020 | 2019 2020 |
€bn
Revenue
12.2 11.2
2019 2020
Operating Profit1)
2.1
1.1 |
2019 2020
€bn
Revenue |
10.2 |
7.5 |
Operating Profit
0.8
0.2 |
€bn | |
Revenue | Operating Profit |
6.3 | |
3.7 | 0.2 |
-0.3 |
€bn
Revenue | Operating Profit |
6.5 | 0.5 |
4.2 | |
-0.3 |
2019 2020 | 2019 2020 |
1) Before Special Items
2019 2020 | 2019 2020 |
2019 2020 | 2019 2020 |
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Performance of Truck & Bus Brands
(January - June 2019 vs. 2020)
€bn | Industrial Business |
Revenue | Operating Profit |
13.3 | 9.9 | 1.0 |
-0.3 | ||
2019 | 2020 | 2019 2020 |
€bn | Vehicles & Services | |
Revenue | Operating Profit | |
7.1 | 0.8 | |
5.3 | ||
0.2 | ||
2019 2020 | 2019 2020 |
€bn | Commercial Vehicles | |
Revenue | OperatingProfit | |
6.3 | 4.7 | |
0.2 -0.4 | ||
2019 2020 | 2019 2020 |
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Volkswagen Group - Outlook 20201)
Deliveries to
Customers
(million vehicles)
Sales revenue
(€ billion)
Operating
return on sales
(%)
+1.3%
10.8 11.0
2018 2019
+7.1%
235.8 252.6
2018 2019
7.32) 7.62)
2018 2019
significantly below prior year
2020
significantly below prior year
2020
Operating result (before and including Special Items)
severely below prior year
However, positive
2020
1) In light of Corona, under constant review 2) Before Special Items
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Volkswagen AG published this content on 30 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2020 07:15:06 UTC