VOLKSWAGEN AG / Key word(s): Interim Report
27.10.2011 09:52
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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Interim Report January-September 2011:
- Volkswagen Group successfully continues its growth in the reporting
period
- Operating profit up EUR 4.2 billion on the prior-year figure, to
EUR 9.0 billion
- Planned merger with Porsche Automobil Holding SE cannot be implemented
within the time frame laid down in the Comprehensive Agreement;
nevertheless, all parties remain committed to the goal of creating an
integrated automotive group
- Profit before tax up EUR 11.2 billion to EUR 16.6 billion; positive
effects from equity-accounted investments and from measurement of
put/call rights relating to Porsche Zwischenholding GmbH at the
reporting date (EUR 6.8 billion)
- Group sales revenue up 25.6 percent year-on-year at EUR 116.3 billion
- Cash flows from operating activities in the Automotive Division improve
by EUR 0.9 billion to EUR 12.4 billion; ratio of investments in
property, plant and equipment (capex) to sales revenue amounts to
4.1 percent (4.0 percent)
- Automotive Division net liquidity remains at a high level of
EUR 21.2 billion
- Group models offer compelling customer proposition worldwide:
- Group deliveries to customers up 14.1 percent on the prior-year
period to 6.2 million vehicles; global market share improves to
12.4 percent (11.6 percent)
- Double-digit growth rates recorded in nearly all regions
- Volkswagen Group thrills visitors to the IAA in Frankfurt
- World premiere of Volkswagen Passenger Cars' up! is the highlight of
the show
- Audi unveils electric A2 concept car; sporty S versions of A6,
A7 Sportback and A8 captivate visitors
- SKODA's MissionL concept car offers outlook on sixth model series
- SEAT emphasizes brand's future design language with IBL concept study
- Bentley presents the new Continental GT Cabriolet; Lamborghini and
Bugatti also attract attention with fascinating vehicles
- Volkswagen Commercial Vehicles unveils 8-gear automatic gearbox
version of the Amarok
- Scania celebrates 100 years of bus production
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January-September 2011 2010 +/- (%)
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Volkswagen Group:
Deliveries to customers '000 units 6,170 5,408 + 14.1
Vehicle sales '000 units 6,200 5,345 + 16.0
Production '000 units 6,301 5,348 + 17.8
Employees Sept. 30/Dec. 31 448,668 399,381 + 12.3
Sales revenue EUR million 116,279 92,547 + 25.6
Operating profit EUR million 8,977 4,826 + 86.0
Profit before tax EUR million 16,637 5,444 x
Profit after tax EUR million 13,642 4,029 x
Automotive Division (including allocation of consolidation adjustments
between the Automotive and Financial Services divisions):
Cash flows from operating
activities EUR million 12,418 11,506 + 7.9
Cash flows from investing
activities attributable to
operating activities*) EUR million 8,605 6,327 + 36.0
Net liquidity at Sept. 30 EUR million 21,161 19,644 + 7.7
Net liquidity at Sept. 30/Dec. 31 EUR million 21,161 18,639 + 13.5
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*) Excluding acquisition and disposal of equity investments:
EUR 5,265 million (previous year: EUR 4,332 million).
The Volkswagen Group's key competitive advantages are its unique brand
portfolio and its continually growing presence in all key regions of the
world. Thanks to our expertise in technology and design, we have a
diverse, attractive and environmentally friendly range of products that
meets all customer desires and needs. In addition, the modular toolkit
system, which we are continually optimizing, will have an increasingly
positive effect on the Group's cost structure. The Volkswagen Group's
brands will continue to launch fascinating new models in the remaining
months of 2011, thus further expanding our strong position in the global
markets. We are therefore expecting our full-year deliveries to customers
to increase as against the previous year.
We expect the Group's sales revenue and operating profit in 2011 to be
significantly higher than the previous year. However, the continuing
volatility in interest and exchange rates and commodities prices will
weaken the positive volume effect. Disciplined cost and investment
management and the continuous optimization of our processes remain core
components of our 'Strategy 2018'.
Wolfsburg, October 27, 2011
Volkswagen AG - The Board of Management
(The full interim report is available at 'www.volkswagenag.com/ir')
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 in particular to the
US dollar, sterling, Czech koruna, Swedish krona, Russian ruble,
Australian dollar, Polish zloty, Swiss franc, Mexican peso and Japanese
yen. In addition, expected business development may vary if the
assessments of value-enhancing factors and risks presented in the 2010
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.
27.10.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: VOLKSWAGEN AG
Brieffach 1849
38436 Wolfsburg
Germany
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
WKN: 766403, 766400
Indices: DAX, Euro Stoxx 50
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, Hannover, München, Stuttgart; Terminbörse
EUREX; London, Luxembourg, SIX
End of Announcement DGAP News-Service
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DGAP-Adhoc: VOLKSWAGEN AG: Interim Report January-September 2011
| Source: EQS Group AG