Volkswagen brand increases earnings in 2022 and continues to drive forward e-offensiveThe Volkswagen Passenger Cars brand further strengthened the company’s profitability in fiscal year 2022. Thanks to effective sales management and rigorous cost optimization, the company generated a robust financial result. Despite the challenging economic situation and the unsettled geopolitical environment, operating profit before special items increased to EUR 2.6 billion and the operating return to 3.6 percent (fiscal year 2021*: EUR 2.2 billion/3.2 percent). Supply constraints and the resulting lower delivery volumes had a significant negative impact on earnings, especially in the second half of the year. The North and South America regions made a large contribution to earnings in 2022, with market share to be robustly expanded going forward. Volkswagen also intends to further accelerate the transformation to e-mobility. The brand anticipates an all-electric share of around 80 percent in Europe by 2030. To this end, ten new electric models are to be launched by as early as 2026, including an all-electric Volkswagen for under EUR 25,000, which makes its world debut today as the ID. 2all study.
Volkswagen Group’s solid financial performance lays basis for profitable growth in key marketsThe Volkswagen Group posted solid full year results for 2022, despite global economic headwinds. The results demonstrate that the Group has a strong financial basis on which to build in 2023, with strong margins and a very solid net liquidity in the automotive division. The Group’s BEV strategy continued to advance in 2022 and demonstrated the popularity of the latest model range, with robust performances across all regions. The Group remains the BEV segment market leader in Europe and continues to grow in China. Significant new models arriving in 2023 will add further tailwind and improve the Group’s market position.
Volkswagen Group achieves solid annual results, significant increase in deliveries expected in 2023Volkswagen Group delivered a robust performance in 2022 with profitability improving despite ongoing supply disruptions and headwinds from higher raw material and energy costs. This was supported by continued pricing discipline, cost progress, and driven by a stronger mix which helped to increase operating profit before special items by EUR 2.5 billion to EUR 22.5 billion. The Group made significant progress in the execution of its strategy in 2022 in particular with the successful Porsche AG IPO, the launch of the Group’s battery company PowerCo with the ground-breaking of the first cell gigafactory in Salzgitter, the start of production of the all-electric ID.4 in the USA as well as the partnership with Horizon Robotics to further strengthening competitiveness in China.