Investor Presentaiton
Volkswagen Group
Outlook for 2023 1 confirmed
VOLKSWAGEN
GROUP
Deliveries to customers
Sales revenue
Operating return on sales 2
Automotive Investment ratio 4
Actual
2022 7
8.3m vehicles
€ 279.2bn
8.1%
H1
2023
4.4m vehicles
(+13%)
€ 156.3bn
(+18%)
7.3%
(underlying 8.9%)
12.1%
13.7%
Automotive Reported Net Cash flow
€ 4.8bn 3
€ 2.5bn
Automotive Net Liquidity
€ 43.0bn 6
€ 33.6bn
Outlook
20231
9.0m to 9.5m vehicles
(+8% to +15%)
€ 307bn to € 321bn
(+10% to +15%)
7.5% to 8.5%
~ 14.5%
2
€ 6bn to € 8bn 5
(expected at lower end of the range)
€ 35bn to € 40bn
1. The Russia-Ukraine conflict has created considerable uncertainty, particularly with regard to the potential impact of the actions of the political players, priJunily where the duration, intensity and allocation of energy supplies and their impact on the supply chain are concerned. Particularly, the supply of energy, other raw materials
and parts for the production process could result in greater constraints, especially in Europe, where a gas shortage is possible. Higher energy and commodity prices plus greater volatility could add to the strain. Furthermore, inflation rates could reduce purchasing power, adversely affect consumer behavior and put a damper on
demand for our products. Moreover, the need might arise to recognize further impairment losses on assets and additional risk provisions I 2. Before special items I 3. Including cash outflows in connection with the EU antitrust proceedings against Scania I 4. R&D & Capex combined 1 5. Including about € 5bn budgeted for M&A I 6.
Total Net Liquidity of € 43bn including € 16.1bn Porsche IPO proceeds of which Porsche IPO special dividend of € 6.5bn (net); payout in January 2023 17. Previous year adjusted (IFRS 17)
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