H Volkswagen έχει την πρώτη απώλεια στα κέρδη της έπειτα από 15 χρόνια

Το dieselgate ξεκίνησε να δείχνει τις επιπτώσεις του, με τον νέο CEO της Volkswagen, Matthias Muller να αναλαμβάνει τον ρόλο να παρουσιάσει τα τριμηνιαία στοιχεία στους επενδυτές της εταιρίας, τα οποία για πρώτη φορά στα τελευταία 15 χρόνια θα είναι αρνητικά.

Η VW παρουσίασε έλλειμμα στα κέρδη τριμήνου (Ιούλιος, Αύγουστος, Σεπτέμβριος 2015), με τις λειτουργικές ζημιές να αναμένονται στα 3,26 δισ. ευρώ, όταν την ίδια περίοδο του 2014, τα κέρδη της είχαν αγγίξει

τα 3,23 δισ. ευρώ. Στις ζημιές αυτές υπολογίζονται και τα 6,5 δισ. ευρώ που έχει ανακοινώσει η VW για τις ανάγκες αποπληρωμής των επικείμενων εξόδων του σκανδάλου με το επίμαχο λογισμικό, το οποίο και βρίσκεται σε 11 εκατ. αυτοκίνητα παγκοσμίως, με το συνολικό ποσό θα κληθεί να πληρώσει η VW για τις επισκευές των αυτοκινήτων της, για τα πρόστιμα και για τις μηνύσεις, σύμφωνα με τις περισσότερες αναλύσεις, να είναι κοντά στα 30 δισ. ευρώ, ενώ υπάρχουν και αναλύσεις που εκτινάσσουν το ποσό στα 78 δισ. ευρώ. Η Porsche SE προβλέπει πως τα συνολικά κέρδη του Group για το 2015 θα κυμανθούν μεταξύ 0,8 δισ. ευρώ και 1,8 δισ. ευρώ.

Γι’αυτό και η VW έχει ξεκινήσει να εξοικονομεί χρήματα από όπου μπορεί, από την ανάπτυξη του επόμενου Golf, των υπολοίπων μοντέλων, καθώς και από το προσωπικό. Ωστόσο, σύμφωνα με τον Thomas Sigi, επικεφαλής ανθρώπινου προσωπικού της Audi, η εταιρία με σήμα τους τέσσερις κύκλους δεν δείχνει να επηρεάζεται από το σκάνδαλο και έτσι θα συνεχίσει να προσλαμβάνει νέους εργαζομένους, όπως έχει προγραμματίσει, ενώ θα δώσει και ένα “σεβαστό” bonus στους εργαζομένους της το επόμενο έτος. Σύμφωνα το Reuters, το VW Group θέλει να ρίξει όλο το “φταίξιμο” και το κόστος του dieselgate πάνω στην Volkswagen, αφήνοντας ανέγγιχτη την εικόνα τόσο της Audi όσο και της Porsche.

Για να διαβάσεις τις τελευταίες εξελίξεις σχετικά με το σκάνδαλο της Volkswagen πάτησε εδώ.

Δελτίο Τύπου

Volkswagen Group generates operating profit before special items of EUR 10.2 billion (EUR 9.4 billion) by the end of September

Sharp year-on-year rise in sales revenue to EUR 160.3 billion (EUR 147.7 billion)Negative special items relating to diesel issue of EUR 6.7 billion and in trucks business of EUR 0.2 billionOperating profit after special items at EUR 3.3 billion (EUR 9.4 billion)Full-year earnings forecast adjustedEquity-accounted profit of the Chinese joint ventures stableAdditional liquidity in excess of EUR 3 billion from sale of Suzuki sharesNet liquidity in Automotive Division increases to EUR 27.8 billionCEO Müller: “We will do everything in our power to win back the trust we have lost”

The Volkswagen Group generated an operating profit before special items of EUR 10.2 billion (EUR 9.4 billion) in the first nine months of the year. Sales revenue grew by 8.5 percent to EUR 160.3 billion. The operating return on sales before special items amounted to 6.4 percent. Earnings were impacted by charges of EUR 6.7 billion in the third quarter for forthcoming measures relating to the diesel issue. As a result, operating profit after special items amounted to EUR 3.3 billion (EUR 9.4 billion). Profit after tax was EUR 4.0 billion (EUR 8.7 billion). As already announced, the full-year earnings forecast was adjusted accordingly.

“The figures show the core strength of the Volkswagen Group on the one hand, while on the other the initial impact of the current situation is becoming clear. We will do everything in our power to win back the trust we have lost”, said Matthias Müller, Chairman of the Board of Management of Volkswagen Aktiengesellschaft, in Wolfsburg on Wednesday.

The Group’s operating profit and sales revenue exclude the activities of the Chinese joint ventures, which are accounted for in the financial result using the equity method. The share of operating profit attributable to the Chinese joint ventures to the end of September remained level at EUR 3.8 billion (EUR 3.9 billion).

“The Volkswagen Group has very solid and robust liquidity resources. This will help us manage the challenging situation caused by the financial impact of the diesel issue”, said Chief Financial Officer Frank Witter.

Net liquidity rises in the Automotive Division

The Automotive Division’s net cash flow increased considerably year-on-year to EUR 11.8 billion (EUR 5.5 billion) thanks to the Group’s robust business model. Net liquidity in the Automotive Division amounted to EUR 27.8 billion at the end of September (end of December 2014: EUR 17.6 billion). The Automotive Division’s investments in property, plant and equipment, investment property and intangible assets, excluding capitalized development costs (capex) increased to EUR 7.3 billion (EUR 6.5 billion). The ratio of capex to sales revenue in the Automotive Division amounted to 5.3 percent (5.0 percent).

Brands and Business Fields

The Volkswagen brand’s operating profit before special items relating to the diesel issue rose to EUR 2.2 billion (EUR 1.7 billion). Positive effects from exchange rates, optimized sales revenue and costs, and the efficiency program more than offset the negative effects of the markets in South America and Russia.

Audi lifted operating profit to EUR 4.0 billion (EUR 3.8 billion) due to sales growth, positive changes in the mix and favorable exchange rate movements. Earnings were negatively impacted by high upfront investments in new products and technologies, as well as the expansion of the international production network.

Operating profit at ŠKODA increased to EUR 734 million (EUR 651 million), mainly due to mix effects, optimized material costs and more favorable exchange rates.

The SEAT brand’s operating profit rose to EUR 12 million (previous year: operating loss of EUR 82 million). This was mainly due to higher volumes, positive exchange rate effects and optimized costs.

Bentley generated an operating profit of EUR 57 million (EUR 125 million) due to lower vehicle sales and higher upfront expenditures. Exchange rate effects and lower costs were unable to offset this trend.

Operating profit at Porsche improved to EUR 2.5 billion (EUR 1.9 billion) due to volume and exchange rate effects. Porsche’s growth is uniform in the key global markets. Changes to the mix, increased structural costs and higher development costs had a negative impact on earnings.

Volkswagen Commercial Vehicles continued to renew its product range and posted an operating profit of EUR 313 million (EUR 378 million).

Scania generated an operating profit of EUR 748 million (EUR 700 million); this increase was primarily due to the service business and positive exchange rate effects. MAN’s operating profit before restructuring expenses amounted to EUR 271 million (EUR 304 million). The negative trends in the commercial vehicles market in South America weighed on earnings. Restructuring measures resulted in special items of EUR –170 million.

Operating profit at Volkswagen Financial Services amounted to EUR 1.4 billion (EUR 1.2 billion) on the back of positive volume and exchange rate effects.

Earnings forecast adjusted

The Volkswagen Group expects deliveries to customers in 2015 to remain on a level with the previous year in a persistently challenging market environment.

Depending on economic conditions, 2015 sales revenue for the Volkswagen Group and its business areas is expected to increase by up to four percent above the prior-year figure. However, economic trends in Latin America and Eastern Europe will need to be continuously monitored in the Commercial Vehicles/Power Engineering Business Area.

Because of charges related to the irregularities in the software used for certain diesel engines, we expect 2015 operating profit for both the Group and the Passenger Cars Business Area to be down significantly year-on-year. We expect an operating return on sales before special items of between 5.5 and 6.5 percent for the Group’s operating profit; this will amount to between 6.0 and 7.0 percent in the Passenger Cars Business Area.

2015

2014

%

2015

2014

%

Q3

Q3

9M

9M

Volume data Deliveries to customers

(‘000 units)

2,392

2,476

–3.4

7,431

7,542

–1.5

Vehicle sales (‘000 units)

2,350

2,439

–3.7

7,440

7,646

–2.7

Production (‘000 units)

2,125

2,404

–11.6

7,438

7,638

–2.6

Employees

(‘000 at Sep. 30/Dec. 31)

613.9

592.6

+3.6

Financial data

(IFRSs), EUR million

Sales revenue

51,487

48,910

+5.3

160,263

147,718

+8.5

Operating profit before

special items

3,206

3,230

–0.7

10,197

9,416

+8.3

Special items

–6,685

–

X

–6,855

–

X

Operating profit/loss

–3,479

3,230

X

3,342

9,416

–64.5

as a percentage of revenue

–6.8

6.6

2.1

6.4

Profit/loss before tax

–2,522

3,713

X

5,142

11,490

–55.2

as a percentage of revenue

–4.9

7.6

3.2

7.8

Profit/loss after tax

–1,673

2,971

X

3,990

8,687

–54.1

Automotive Division

Cash flows

from operating activities

7,420

6,556

+13.2

18,973

14,942

+27.0

Cash flows from

investing activities

attributable to

operating activities*)

459

3,929

–88.3

7,220

9,398

–23.2

of which: capex

2,688

2,904

–7.4

7,340

6,482

+13.2

as a percentage

of sales revenue

6.1

6.8

5.3

5.0

Net cash flow

6,962

2,627

X

11,753

5,544

X

Net liquidity

at Sep. 30

27,755

16,785

+65.4

Net liquidity

at Sep. 30/Dec. 31

27,755

17,639

+57.4

*) Excluding acquisition and disposal of equity investments: Q3: EUR 3,573 million (EUR 3,845 million), January to September: EUR 10,246 million (EUR 9,694 million).

Figures by brandfrom Jan. 1 to Sept. 30SalesOperating

Operating revenue

profit

margin

in € m

in € m

in %

2015

2014

2015

2014

2015

2014

Volkswagen Passenger Cars

79,972

73,390

2,229

1,696

2.8

2.3

Audi

43,695

39,300

4,024

3,831

9.2

9.7

ŠKODA

9,280

8,784

734

651

7.9

7.4

SEAT

6,388

5,622

12

–82

0.2

–1.5

Bentley

1,364

1,259

57

125

4.2

9.9

Porsche *)

16,471

12,241

2,546

1,927

15.5

15.7

Volkswagen Commercial Vehicles

7,537

6,976

313

378

4.2

5.4

Scania *)

7,686

7,511

748

700

9.7

9.3

MAN

9,981

10,214

271

304

2.7

3.0

Volkswagen

Financial Services

19,403

16,058

1,381

1,215

7.1

7.6

*) Including financial services.

Porsche SE: Forecast of group profit adjusted

Response to the Volkswagen Group’s revised profit forecast

Stuttgart, 28 October 2015. Porsche Automobil Holding SE, Stuttgart (“Porsche SE”), has adjusted its group profit forecast for the fiscal year 2015. As explained in the press release of 22 September 2015, Porsche SE’s group profit for the current fiscal year will be negatively impacted by effects on the result of the Volkswagen Group due to the Diesel emissions issue.

In its figures published for the third quarter of 2015, Volkswagen AG announced an operating group profit after special items that is considerably lower than the corresponding prior-year figure. Taking into account this forecast and the expected development, in particular of the financial result in the Volkswagen Group, Porsche SE now expects a total group profit for the fiscal year 2015 of between 0.8 billion euro and 1.8 billion euro. This does not take into consideration dilutive effects resulting from the mandatory convertible bonds issued by Volkswagen AG.

Porsche SE’s forecast is subject in particular to further findings in connection with the Diesel emissions issue and is based on the assumption that the Volkswagen Group’s financial result as of year-end will be within the range of the previous expectations. Due to these constraints, Porsche SE’s forecast is inevitably subject to estimation risks.

In addition, Porsche SE’s expected net liquidity as of year-end has decreased in particular due to the acquisition of 1.5 percent of the Volkswagen ordinary shares from Suzuki Motor Corporation. Porsche SE now expects – without taking into consideration possible additional investments – a net liquidity of between 1.3 billion euro and 1.5 billion euro as of 31 December 2015.

Porsche SE will present its “Interim report – 01.01.2015-09.11.2015” on Tuesday, 10 November 2015.