Volkswagen announced its complete financial report for 2023 today. The annual sales revenue reached 322.3 billion euros (currently approximately 2.53 trillion RMB), and the operating profit reached 22.6 billion euros (currently approximately 177.41 billion RMB). ), the after-tax profit reached 17.9 billion euros (currently approximately 140.515 billion RMB), and the operating profit margin excluding special items was 7.0%.
Volkswagen said operating profit adjusted for the impact of valuation (especially the impact of commodity hedging) was 25.8 billion euros (Note: currently about 202.53 billion RMB), equivalent to a profit margin of 8%.
Additionally, the Volkswagen unit’s net cash flow increased to 10.7 billion euros. At the end of the year, the Automotive division’s net liquidity was €40.3 billion and the group’s financial position is very strong. Earnings per preferred share increased by €2.26 to €31.98 (+8%).
The company predicts that orders in Western Europe will accelerate in the coming months compared with the same period last year; it expects investment to peak in 2024 and reach a target level of 11% of sales revenue in 2027; it plans to further invest in the battery business and strengthen regional strength.
Volkswagen said it achieved strong results in a challenging environment in 2023, with deliveries reaching 9.24 million vehicles, an increase of 12%, with all regions contributing to the growth.
As for new energy vehicle data, Volkswagen’s share of pure electric vehicle deliveries in 2023 continues to rise, reaching a peak of around 10% in the fourth quarter; full-year pure electric vehicle sales accounted for 8.3%, a record high.
In absolute numbers, the Volkswagen Group delivered a total of 771,100 fully electric vehicles in 2023, an increase of 35% compared to 2022.
The company also said that 2023 is a year of restructuring and the continued implementation of the TOP-10 plan; more than 30 new products will be launched this year, such as the electric Porsche Macan and ID.7 sedan.
Arno Antlitz, Chief Financial Officer and Chief Operating Officer of the Volkswagen Group, said: “In a challenging environment, the Volkswagen Group achieved a strong performance in 2023. This is exactly what we want to continue to build on this year. To ensure that we are sustainable To grow and succeed, in 2024 we will focus on launching new models, reducing costs, leveraging more synergies within the group and establishing a stronger regional positioning by continuing to grow profitably in North America.”
