Volkswagen Group achieves solid annual results, significant increase in deliveries expected

• Sales revenue up 12 percent year-on-year to EUR 279.2 billion; decline in vehicles delivered was offset by positive product mix effects and price positioning; order bank remains at a high level of 1.8 million vehicles

• Operating profit before special items increased 13 percent to EUR 22.5 billion; operating profit margin improved to 8.1 percent due to strong mix and pricing

• Automotive net liquidity improved to EUR 43 billion including the proceeds from the Porsche IPO amounting to 16.1 billion; net cash flow contributed with EUR 4.8 billion to the strong net liquidity position

• Deliveries of battery-electric vehicles (BEV) up by 26 percent totalling 572,100 units in 2022, share in group deliveries increases to 7 percent; Volkswagen on track for 20 percent BEV share of total deliveries in 2025 and 50 percent in 2030

• Board of Management and Supervisory Board propose dividend of EUR 8.70 per ordinary share and EUR 8.76 per preferred share, payout ratio rises to 29.4 percent (25.4 percent)

• Group Outlook for 2023: deliveries expected to rise to about 9.5 million vehicles; sales revenues to increase by between 10 and 15 percent primarily driven by the strong order backlog on hand, operating return on sales to be in the range of 7.5 and 8.5 percent, with a strong increase in reported net cash flow

• Arno Antlitz, CFO & COO of Volkswagen Group, said: “Today's results provide more evidence of solid financial foundations on which we consistently implement our strategy.”

Full press release