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Interim Report January - September 2023

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Third Quarter Results 2023

On October 26, 2023 the Volkswagen Group published the results for the third quarter of 2023.

The picture shows Dr. Arno Antlitz in front of a grey concrete wall. He is wearing a suit and a shirt as well as dark glasses.
“Overall, we are on a robust course and have again increased sales volumes and revenues in the third quarter. However, we cannot be satisfied with our profitability, which in the third quarter fell short of our ambitious targets. We are now concentrating on the systemic implementation of the 10-point plan and our cross-brand performance programs.”
Arno Antlitz CFO & COO of Volkswagen Group
The picture shows Dr. Arno Antlitz in front of a grey concrete wall. He is wearing a suit and a shirt as well as dark glasses.

Webcast

Audio Webcast and Conference Call for Investors, Analysts and Media
at 9:00 a.m. CEST hosted by

Arno Antlitz, CFO und COO


followed by Q&A Session for Investors and Analysts hosted by

Arno Antlitz, CFO und COO


followed by Q&A Session for media with

Arno Antlitz, CFO und COO


To WEBCAST

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Highlights

6.7
million, +11 % vs. Q1-Q3 2022 DELIVERIES
235.1
EUR billion, +16 % vs. Q1-Q3 2022 SALES REVENUE
16.2
EUR billion, -7% vs. Q1-Q3 2022 OPERATING RESULT*
* BEFORE SPECIAL ITEMS

Volkswagen Group delivers solid nine-month results in a challenging environment; disruptions in production and higher product costs impact third quarter

  • Sales revenue growth of 16 percent year-to-date to 235.1 billion euros
  • Vehicle sales up 8 percent to 6.8 million units
  • Operating profit in the first nine months decreased by 7 percent to 16.2 billion euros; Operating return on sales of 6.9 percent; negative effects from product costs and manufacturing disruptions in the third quarter particularly impacted the brand group Core
  • Operating profit before valuation effects, in particular from commodity hedging, at 18.7 billion euros, corresponding to underlying operating return on sales of 8.0 percent, almost level with the prior year period
  • Electrification strategy is progressing, with deliveries of battery electric vehicles (BEV) increasing by 45 percent to 531,500 vehicles in the first nine months; BEV share of total deliveries grew to 7.9 percent in the first nine months
  • Order bank of 1.4 million vehicles in Western Europe at the end of Q3 remains at high level, including around 150,000 BEV
  • Financial outlook for fiscal year 2023 updated; operating result before special items expected to be around the level of the previous year

Press Release Interim Report January - September 2023

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Volkswagen Group delivers solid nine-month results in a challenging environment

To press release
The specified fuel consumption and emission data does not refer to a single vehicle and is not part of the offer but is only intended for comparison between different types of vehicles. Additional equipment and accessories (additional components, tyre formats, etc.) can alter relevant vehicle parameters such as weight, rolling resistance and aerodynamics, affecting the vehicle's fuel consumption, power consumption, CO2 emissions and driving performance values in addition to weather and traffic conditions and individual driving behavior. Further information on official fuel consumption data and official specific CO2 emissions for new passenger cars can be found in the "Guide to fuel economy, CO2 emissions and power consumption for new passenger car models", which is available free of charge from all sales dealerships and from DAT Deutsche Automobil Treuhand GmbH, Hellmuth-Hirth-Str. 1, D-73760 Ostfildern, Germany and at www.dat.de/co2.