The return on sales should exceed the 5 percent mark, announced the subsidiary of the VW Group at the annual press conference. Last year, the margin climbed to 4.6 from 0.7 percent thanks to rising sales of particularly expensive vehicles.
“If we take the two years 2021 and 2022 together, our turnaround in earnings totals around one billion euros,” said CFO Michael Obrowski according to the announcement. The basis for this success is the good demand for light commercial vehicles – the order backlog reached a record high of almost 300,000 vehicles at the end of 2022. Sales rose by a good 4 percent to around 340,000 vehicles, as has been known since the figures from the VW Group were presented last week.
Deliveries of the fully electric cars rose to 7,500 units thanks to the market launch of the ID.Buzz and the Buzz Cargo. That is more than twice as many as in the previous year, VW Commercial Vehicles continues.
Net cash flow should improve noticeably this year: “Our goal for the current year is to increase net cash flow to more than EUR 500 million,” explained Obrowski. In the past, the cash flow was minus 259 million euros.
The VW share temporarily loses 0.32 percent via XETRA to 123.40 euros.
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