VOLKSWAGEN AG / Quarter Results
21.04.2010 13:26
Dissemination of a UK Regulatory Announcement, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Interim Report January-March 2010:
- Volkswagen Group makes positive start to fiscal year 2010
- At EUR 848 million, operating profit up on the weak prior-year figure
(EUR 312 million)
- Profit before tax increases to EUR 703 million (EUR 52 million)
- Group sales revenue 19.4 percent higher than in the prior-year period
at EUR 28.6 billion
- Cash flows from operating activities amount to EUR 3.0 billion
(EUR 2.9 billion); ratio of investments in property, plant and
equipment (capex) to sales revenue at 3.5 percent (5.5 percent)
- Outflow of EUR 1.7 billion cash for the investment in Suzuki
- Successful capital increase generates cash inflow of approximately
EUR 4.1 billion, including around EUR 3.0 billion in the reporting
period; all preferred shares placed in advance
- Automotive Division net liquidity at high level of EUR 14.2 billion
- Group launches new model rollout for 2010:
- At 1.7 million vehicles, Group deliveries to customers 24.4 percent
higher than in the weak previous year; global market share increases
to 11.6 percent
- Continued strong demand for Group models in China; prior-year figures
also exceeded in Western Europe, North and South America
- New Compact Coupe concept car unveiled to the global public
- Volkswagen Passenger Cars brand celebrates world premieres of the new
Sharan and the new Touareg, which is also available in a hybrid
version
- Audi A1 is the first premium vehicle in the small compact car segment
- Audi A1 e-tron demonstrates the Group's expertise in e-mobility
- Skoda presents the Fabia Scout
- SEAT unveils the Ibiza ST and the concept car for the IBE electric
model
- Volkswagen Commercial Vehicles launches the Amarok pickup
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January-March 2010 2009 +/- (%)
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Volkswagen Group:
Deliveries to customers '000 units 1,744 1,402 + 24.4
Vehicle sales '000 units 1,703 1,352 + 25.9
Production '000 units 1,734 1,253 + 38.4
Employees March 31/Dec. 31 371,289 368,500 + 0.8
Sales revenue EUR million 28,647 23,999 + 19.4
Operating profit EUR million 848 312 x
Profit before tax EUR million 703 52 x
Profit after tax EUR million 473 243 + 94.6
Automotive Division (including allocation of consolidation adjustments
between the Automotive and Financial Services divisions):
Cash flows from operating
activities EUR million 3,043 2,857 + 6.5
Cash flows from investing
activities*) EUR million 3,013 304 x
Net liquidity at March 31 EUR million 14,235 10,737 + 32.6
Net liquidity at March 31/Dec. 31 EUR million 14,235 10,636 + 33.8
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*) Excluding acquisition and disposal of equity investments:
EUR 1,250 million (previous year: EUR 1,612 million).
Our presence in all the key regions around the world, the multi-brand
strategy, our technological expertise and the most up-to-date, most
environmentally friendly and broadest vehicle range that has resulted from
that expertise are key advantages for our Company. In 2010, the Volkswagen
Group's nine brands will unveil a large number of new models, thus
systematically extending our position in the global markets. We therefore
anticipate that our deliveries to customers will be higher than in 2009.
The Group's sales revenue and operating profit for 2010 are expected to
exceed the prior-year figures despite a shift in volumes between the
markets. Interest and exchange rate volatility will remain a drag on
profit. We will continue to focus on disciplined cost and investment
management and the continuous optimization of our processes. In doing so,
we will systematically pursue the core elements of the '18 plus' strategy -
ecological relevance and the return on our vehicle projects.
Wolfsburg, April 21, 2010
Volkswagen AG - The Board of Management
(The full interim report is available at 'www.volkswagenag.com/ir' from
April 29, 2010 on)
This report contains forward-looking statements on the business development
of the Volkswagen Group. These statements are based on assumptions relating
to the development of the economic and legal environment in individual
countries and economic regions, and in particular for the automotive
industry, 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. The
estimates given entail a degree of risk, and the actual developments may
differ from those forecast.
Consequently, any unexpected fall in demand or economic stagnation in our
key sales markets, such as Western Europe (and especially Germany) or in
the USA, Brazil, China, or Russia 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 relative to the US dollar, sterling,
Russian ruble, Mexican peso, Swedish krona, Australian dollar, Swiss franc,
Japanese yen, Brazilian real, Polish zloty, Chinese renminbi and Czech
koruna. In addition, expected business development may vary if the
assessments of value-enhancing factors and risks presented in the 2009
Annual Report develop in a way other than we are currently expecting, or
additional risks or other factors emerge that adversely affect the
development of our business.
21.04.2010 13:26 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: VOLKSWAGEN AG
Brieffach 1849
38436 Wolfsburg
Deutschland
Phone: +49 (0)5361 9 - 49840
Fax: +49 (0)5361 9 - 30411
E-mail: christine.ritz@volkswagen.de
Internet: www.volkswagenag.com/ir
ISIN: DE0007664039, DE0007664005
Indices: DAX, Euro Stoxx 50
Listed: Regulierter Markt in Berlin, Frankfurt (Prime
Standard), München, Hannover, Hamburg, Düsseldorf,
Stuttgart; Terminbörse EUREX; Foreign Exchange(s)
London, Luxembourg, SIX
Category Code: QRF
LSE Ticker: VKW
Sequence Number: 462
Time of Receipt: Apr 21, 2010 12:52:28
End of News DGAP News-Service
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DGAP-UK-Regulatory: VOLKSWAGEN AG: Interim Report January-March 2010
| Source: EQS Group AG