The Volkswagen Group has done a good start to mercantile year 2015 notwithstanding a marketplace sourroundings that stays challenging. Sales income rose by 10.3 percent to EUR 52.7 billion (EUR 47.8 billion) in a initial entertain as a outcome of aloft volumes, improvements in a brew and certain sell rate effects. Operating distinction grew by 16.6 percent to EUR 3.3 billion (EUR 2.9 billion). The handling lapse on sales increasing to 6.3 percent (6.0 percent). The Group’s handling distinction and sales income bar a activities of a Chinese corner ventures, that are accounted for in a financial outcome regulating a equity method. The share of handling distinction attributable to a Chinese corner ventures in a initial 3 months rose to EUR 1.6 billion (EUR 1.2 billion).
The Volkswagen Group’s distinction before taxation amounted to EUR 4.0 billion (EUR 3.4 billion). The lapse on sales before taxation rose to 7.5 percent (7.0 percent) in a duration from Jan to March. Profit after taxation was EUR 2.9 billion (EUR 2.5 billion). “We have always emphasized that 2015 will be a severe year for a automotive attention as a whole, and also for us. Nevertheless, a pivotal total for a initial entertain uncover that a Volkswagen Group stays on course, notwithstanding a headwinds. The pivotal concentration for a whole workforce is on ensuring that 2015 will be another successful year”, pronounced Prof. Dr. Martin Winterkorn, Chairman of a Board of Management of Volkswagen Aktiengesellschaft, in Wolfsburg on Wednesday. The Group’s settled design is to boost a volumes, sales income and handling distinction in full-year 2015.
Global direct for newcomer cars was adult 3.7 percent year-on-year in a initial entertain of 2015; however, marketplace trends sundry from segment to region. The altogether markets in Asia-Pacific, North America, Western Europe and Central Europe saw growth, while a poignant year-on-year decrease in marketplace volumes was available in Eastern Europe and South America. “We design trends in a newcomer automobile markets in a sold regions to sojourn mixed. This sourroundings final a pinnacle coherence and financial strength so that we can guarantee a Group’s success in a prolonged tenure and grasp a goals of a Strategy 2018”, pronounced Chief Financial Officer Hans Dieter Pötsch.
High net liquidity in a Automotive Division
The Automotive Division’s net money upsurge was adult EUR 1.6 billion year-on-year to EUR 1.5 billion. Net liquidity in a Automotive Division amounted to EUR 20.8 billion during a finish of Mar (December 31, 2014: EUR 17.6 billion). Liquidity was reduced by a collateral boost in a Financial Services Division, while a successful chain of hybrid records strengthened a Automotive Division’s collateral base. Investments in property, plant and equipment, investment skill and unsubstantial assets, incompatible capitalized enlargement costs (capex) increasing to EUR 2.1 billion (EUR 1.6 billion). The Volkswagen Group confirmed a trained proceed to investment with a ratio of capex to sales income in a Automotive Division of 4.5 percent (3.9 percent). The Group invested essentially in prolongation comforts and in a models to be launched in 2015 and 2016, as good as in a ecological concentration of a indication range.
Brands and Business Fields
Operating distinction during a Volkswagen Passenger Cars code rose by 16.8 percent year-on-year to EUR 514 million (EUR 440 million) in a initial 3 months of 2015. This was driven by a enlargement in sales income and cost optimization measures. Earnings were negatively impacted by a diseased marketplace trends in Russia and South America. Following a successful launch of a potency module a certain outcome in a initial entertain was in a low triple-digit millions of euros. The handling domain reached 2.0 percent (1.8 percent) in a stating period.
Audi’s handling distinction was adult on a prior year, during EUR 1.4 billion (EUR 1.3 billion), interjection to aloft volumes and improvements in sell rates. By contrast, high upfront investments in new products and technologies, as good as a enlargement of a general prolongation network, weighed on earnings. The handling domain was 9.7 percent (10.1 percent).
ŠKODA generated an handling distinction of EUR 242 million (EUR 185 million) in a initial 3 months of 2015, significantly surpassing a prior-year figure interjection to volume and mix-related factors. The handling domain amounted to 7.6 percent (6.2 percent).
Operating distinction during SEAT rose to EUR 33 million (previous year: handling detriment of EUR 36 million). This boost resulted especially from softened volumes and some-more fitting sell rates, together with cost reductions.
Bentley’s handling distinction was adult year-on-year to EUR 49 million (EUR 45 million). The brand’s handling domain was 10.3 percent (10.0 percent).
Porsche available an handling distinction of EUR 765 million (EUR 698 million) and an handling domain of 15.1 percent (17.8 percent). Positive volume and sell rate effects some-more than equivalent a disastrous impact of changes in a mix, increasing constructional costs and aloft enlargement costs for destiny projects and technologies.
Operating distinction during Volkswagen Commercial Vehicles rose to EUR 165 million (EUR 136 million). The handling domain was 6.1 percent (5.8 percent).
Scania posted an handling distinction of EUR 237 million (EUR 254 million) and an handling domain of 9.6 percent (10.3 percent). MAN generated an handling distinction of EUR 34 million (EUR 68 million) and an handling lapse on sales of 1.1 percent (2.2 percent). The diseased marketplace trends in Russia and Brazil in sold negatively impacted a blurb vehicles business.
Operating distinction during Volkswagen Financial Services amounted to EUR 403 million (EUR 353 million). Volume and sell rate effects had a certain impact. The series of new financing, leasing, use and word contracts sealed in a initial entertain rose to 1.2 million (+ 12.9 percent) worldwide.
Winterkorn: “We are optimally positioned to master a anomalous trends in a tellurian automotive markets.”
Winterkorn is assured about a residue of a year: “We are good positioned to master a anomalous trends in a tellurian automotive markets. Our Group’s proven strengths embody in sold a singular code portfolio, a different operation of models, a usually flourishing participation in all vital universe markets and a extended spectrum of a financial services.” The Volkswagen Group will press forward with a product rollout beginning opposite all of a brands in 2015, modernizing and expanding their offerings and introducing appealing new models.
Depending on mercantile conditions, Volkswagen expects 2015 sales income for a Group and a business areas to surpass a prior-year figure by adult to 4 percent. However, mercantile trends in Latin America and Eastern Europe will need to be invariably monitored in a Commercial Vehicles/Power Engineering Business Area.
The formidable marketplace environment, extreme competition, seductiveness rate and sell rate volatility, and fluctuations in tender element prices all poise challenges. Positive effects are approaching from a potency programs implemented by all brands and, increasingly, from a modular toolkits.
In terms of a Group’s handling profit, Volkswagen anticipates an handling lapse on sales of between 5.5 percent and 6.5 percent in 2015 in light of a severe mercantile environment. Volkswagen expects a handling lapse on sales to be in a 6.0 percent to 7.0 percent operation in a Passenger Cars Business Area, and between 2.0 percent and 4.0 percent in a Commercial Vehicles/Power Engineering Business Area. For a Financial Services Division, a Group is forecasting an handling distinction during a prior-year level.
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