Volkswagen: confident for current year

(CercleFinance.com) - This morning, VW reviewed its 2023 results and forecasts.
Sales are forecast at E322.3bn for 2023, operating profit at E22.6bn, while profit after tax reached E17.9bn. Deliveries rose by 12% to 9.24 million vehicles, with all regions contributing to this increase.

Operating income amounted to E25.8bn, after adjusting for valuation effects, notably related to raw materials hedging.

Earnings per preferred share rose by E2.26 to E31.98 (+8%).

Arno Antlitz, CFO and COO of the Volkswagen Group said to ensure our sustainable success, we will focus in 2024 on ramping up new vehicles, reducing costs, making greater use of synergies within the Group and establishing a more robust regional positioning, also by continuing our profitable growth in North America.

With more than 30 new products, 2024 will be the year of world firsts, including high-performance all-electric vehicles based on the new PPE premium platform. The Volkswagen Group is therefore confident for the current year and an accelerated ramp-up from 2025 onwards, management says.


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