VOLKSWAGEN AKTIENGESELLSCHAFT
VOLKSWAGEN AKTIENGESELLSCHAFT: Volkswagen AG updates its forecast for the 2024 financial year
VOLKSWAGEN AKTIENGESELLSCHAFT / Key word(s): Change in Forecast In light of a challenging market environment and developments that have fallen short of original expectations, particularly at the brands Volkswagen Passenger Cars, Volkswagen Commercial Vehicles and Tech. Components, Volkswagen AG is updating its forecast for the 2024 financial year as follows: The company now expects deliveries to customers to be around 9 million vehicles (2023: 9.24 million vehicles; previous forecast: increase of up to 3 percent). Volkswagen now expects Group sales revenue to be around 320 billion euros (2023: 322.3 billion euros; previous forecast: increase of up to 5 percent). This forecast takes into account the effects of fair value measurements of hedging instruments that have accrued in the year to date and the unplanned expenses of around 2.6 billion euros for the full year 2024 as announced in the ad-hoc release on July 9, 2024. Volkswagen AG now expects the net cash flow of the Automotive Division to reach a figure of around 2 billion euros (previously: 2.5 to 4.5 billion euros). This forecast includes the assumption of expenses for M&A activities in the amount of around 3.5 billion euros, of which approximately 2 billion euros is attributable to expenses in connection with the planned joint venture with Rivian. Net liquidity in the Automotive Division is expected to be in the range of 36 to 37 billion euros in 2024 (previously: 37 to 39 billion euros). The report on the interim financial statements as of September 30, 2024 will be published on October 30, 2024. Definitions of operating profit, net cash flow and net liquidity can be found in the 2023 Annual Report on pages 100ff.
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27-Sep-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | VOLKSWAGEN AKTIENGESELLSCHAFT |
Berliner Ring 2 | |
38440 Wolfsburg | |
Germany | |
Phone: | +49 (0)5361 9 – 49015 |
Fax: | +49 (0)5361 9 – 30411 |
E-mail: | lars.korinth@volkswagen.de |
Internet: | www.volkswagenag.com/ir |
ISIN: | DE0007664039, DE0007664005 |
WKN: | 766403, 766400 |
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EQS News ID: | 1997727 |
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