07-Feb-2023 / 21:01 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Preliminary results fiscal year 2022
Based on preliminary figures, Volkswagen AG generated net cash flow of around €5 billion in fiscal 2022, falling short of its self-imposed target of achieving net cash flow at the level of the previous year (2021: €8.6 billion). The deviation is mainly due to the unstable supply situation throughout 2022 and disruptions in the logistics chains, particularly at the end of the year. As a result, working capital and in particular inventories of finished goods, raw materials and supplies at the end of the year were significantly higher than expected . Current planning for 2023 suggests that this year-end 2022 increase in working capital will largely reverse during the year.
Based on preliminary figures, Group sales (outlook for 2022: 8-13% above prior-year figure of 250.2 billion euros) and Group operating profit before special items (outlook for return on sales in 2022: 7.0%-8.5% of Group sales) are 279 billion euros and around 22.5 billion euros respectively, and thus within the expected ranges of the outlook confirmed at the time of the 9M reporting on Oct 26, 2022. The expected return on sales is therefore at around 8.1%. The net liquidity of the Automotive Division at December 31, 2022 was around 43 billion euros. This includes around 16 billion cash inflows from the IPO of Porsche AG conducted in September 2022.
The company plans to publish its annual report on March 14, 2023.
The definitions of the key performance indicators can be found in the 2021 AR on page 90.
Rolf Woller
Head of Group Treasury and Investor Relations
07-Feb-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com
Language:
English
Company:
VOLKSWAGEN AKTIENGESELLSCHAFT
Berliner Ring 2
38440 Wolfsburg
Germany
Phone:
+49 (0)5361 9 - 49015
Fax:
+49 (0)5361 9 - 30411
E-mail:
julian.krell@volkswagen.de
Internet:
www.volkswagenag.com/ir
ISIN:
DE0007664039, DE0007664005
WKN:
766403, 766400
Indices:
DAX, Euro Stoxx 50
Listed:
Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange
Volkswagen AG is a Germany-based Company, which manufactures and sells vehicles. The Company operates through four segments: Passenger Cars, which covers the development of vehicles and engines, the production and sale of passenger cars, and the corresponding genuine parts business; Commercial vehicles, which comprises the development, production and sale of light commercial vehicles, trucks and buses, the genuine parts business and related services; Power Engineering, which consists of the development and production of diesel engines, turbo compressors, industrial turbines and chemical reactor systems, the production of gear units, propulsion components and testing systems, and Financial Services, which comprises dealer and customer financing, leasing, banking and insurance activities, fleet management and mobility services. It's brand portfolio includes Volkswagen, Audi, SEAT, SKODA, Bentley, Bugatti, Lamborghini, Porsche, Ducati, Volkswagen Commercial Vehicles, Scania and MAN.