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  5. Results Q3 2022

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Volkswagen Group operating result increases and recovery in China accelerates

   

“In the third quarter, Volkswagen made some significant strides towards generating greater sustainable value creation for shareholders. I’m pleased to see that we made progress in China and the U.S., and took another step toward further securing the supply of raw materials to deliver on our ambitious EV ramp-up plans.”

Oliver Blume CEO, Volkswagen Group

“We have once again demonstrated Volkswagen’s financial resilience in a challenging environment. This quarter was another step towards meeting our ambitious full year targets.”

Arno Antlitz CFO and COO, Volkswagen Group

Highlights

Overall Q3 revenues up year-on-year from EUR [56.9 bn] to [70.7 bn] vs a supply constrained Q3 2021

EUR 70.7 billion overall revenues in Q3

Q3 operating result up year-on-year to EUR [4.3 bn]. Q3 margin of [6%] burdened by non-recurring items of EUR 1.6bn

EUR 4.3 billion operating result in Q3

BEV ramp-up progressing, with [22%] more deliveries in Q3 and accelerating BEV share of 6.8%; start of production of the ID.4 in the US

BEV ramp-up progressing, with 22% more deliveries in Q3

Results summary

  • Operating result before special items Q1-Q3 of EUR 17.5 bn reflecting an operating margin of 8.6%
  • Volkswagen Group confirms margin guidance of 7-8.5% at the upper end of the range
  • Overall Q3 revenues up year-on-year from EUR 56.9 bn to 70.7 bn vs a supply constrained Q3 2021
  • Q3 operating result up year-on-year to EUR 4.3 bn. Q3 margin of 6% burdened by non-recurring items of EUR 1.6 bn
  • Accelerating recovery in China, with 27% increase in deliveries in Q3
  • BEV ramp-up progressing, with 22% more deliveries in Q3 and accelerating BEV share of 6.8%; start of production of the ID.4 in the US
  • Successful IPO of Porsche, with proceeds being used to accelerate the transformation and return to shareholders via special dividend

Videos

Oliver Blume: "How we are steering the Group into a new phase."

Oliver Blume: "How we are steering the Group into a new phase."

Our CFO Arno Antlitz on the highlights of #VWGroup’s Q3 of 2022.

"What were the highlights of VWGroup’s Q3, Arno Antlitz?"

Ralf Brandstätter, CEO of Volkswagen Group China, about the latest progress in China.

Ralf Brandstätter: "We've made great progress in China."

Pablo Di Si, CEO of Volkswagen Group of America, on how we are setting the foundation for growth in North America.

Pablo Di Si: "Setting the foundation for growth in North America."

Key Materials

Interim Report January - September 2022
2022-10-28
Press Release - Volkswagen Group operating result increases and recovery in China accelerates
2022-10-28

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