Volkswagen 2020 June Half-Year Financial Report January –

30.7.2020. The Volkswagen Group brands and their business Covid-19 outbreak in the first half of 2020 was buried. Liquidity to reduce costs and secure timely implementation of the counter measures in reducing the effects of the crisis has been successful.

The group working capital for ongoing customer demand-oriented production, tight inventory management and significant relief thus achieved. In the automotive industry overall, net liquidity, in addition to the 3 billion euros through the issuance of hybrid bonds-18.7 billion EURO to 1.5 billion Euro compared to the first quarter of 2020 can be increased. Questions and feedback: 3,9 (5,4) vehicles at a rate of 27.4 million compared to the previous year decreased.

Per cent revenue 23.2 billion (125,2) EUR euro dropped to the level 96.1. The operating result before special items billion (10) vs -0.8% million euros. The main factor in the significant decline in customer demand as a result of this development is the decline in sales volume. The amount of -0,9 million euros (particularly in raw material hedges) accounting standards, except the derivative financial instruments fair value adjustments and currency effects, almost a joint venture with Ford Autonomous Driving (HELP) autonomous intelligent driving 0,8 billion euro, the contribution of non-cash income were offset by. Diesel due to the crisis, special effects, the operating result -0.7 billion (-1,0) affected the euro. The pre-tax result -1.4 billion (9,6) decreased to euros.

Responsible for Finance and Frank Witter, a member of the board of directors, the most difficult in the company’s history during the first half of 2020 Covid-19 an outbreak of a will, “he said. Our employees, customers and Partners, Health is a priority. Maximum health protection for the 100-point plan, for example, we have created the best possible conditions for a safe working environment. At the same time, we have initiated comprehensive measures to reduce our costs and secure liquidity and early. Our job is somewhat limited it is therefore possible for us to keep the impact of this epidemic. A great team performance, stable so far, this had suggested that an unprecedented crisis, and the group there. In recent weeks, due to positive trends in our business, and the introduction of numerous attractive models, we’re looking for the second half of the year with cautious optimism.“

Percent savings on the monthly shipments drop year constantly since the month of May of the year

The Volkswagen Group continued until the end of June, a sharp decline in delivery 3,9 (5,4) vehicles at a rate of 27.4 million compared to the previous year. The strong decline in the overall market due to an outbreak of Group global share was able to increase the automobile Sunday. Deliveries in the month of April were 45% below the previous year’s value after the residue continuously in the month of June to 18% reduced. One reason Western Europe, the market group home improvement. Here, according to the year of deliveries made in the month of May, in the month of June compared to the previous year is around 57 percent, about 30 percent. The recovery in the markets in the month of July, is a sequel. Deliveries only single-digit percentages year-on-year this month this month, which will be group, therefore, expects. Greater market recovery is expected in the second half of the year.

According to Q1, automotive division net liquidity increased

17.8 billion in its automotive division net liquidity to € 18.7 billion euros at the end of the month of March at the end of June rose. Extensive measures to ensure liquidity in addition to the successful placement of a hybrid bond 3.0 billion euros contributed. Net cash flow in the automotive division with a decrease of 4.8 billion euros, 5.6 billion euros below the previous year’s good. Research and development cost 6.7 billion in the first half of the year (7.0) EUR, 4.8 per cent below the same period of the previous year. The R & D ratio due to (6,6 per cent) there was a decrease in revenues of 8.7. Department of automotive, facilities and billion investment reduced significantly (5,2) fell 4.1 percent to 5.4 euros per. Epidemic the rate of real estate investment, low income related to income (4.9 per cent) rose 5.4 percent.

Positive operating results for the full year

The Volkswagen Group significantly below the figure for the previous year for your questions and comments-19-outbreak, are hoping that this will be by 2020 as a result of the impact of covid. Difficulties especially competitive, volatile raw material and foreign exchange markets stricter emissions-related requirements of the increased intensity will occur. Covid of the Volkswagen Group for 2020 as a result of this 19-outbreak sales revenues is expected to be significantly below the previous year’s level. In total, the Volkswagen group waiting for 2020, a year ago, and special items, including the annual serious decline, but overall a positive operating result.

Research & development (R&D) development expenses, and investment facilities to the level of absolute 2019 under a bed substantially as well. The automotive division’s R & D ratio and the rate of financial investment in 2020 to be significantly compared to the previous year due to a decrease in income is due to income demand. Lower customer demand as a result of mergers and acquisitions activity in the diesel crisis, as well as the output of pull liquidity as a result of more money expected for 2020, with base year automotive net cash flow in the division. As a result, net liquidity short-the automotive division the previous year’s level drops. (RoI) return on investment of 9 percent to maturity in the amount of expected investment profitability on an annual basis, the minimum rate defined below, and causes.

Brand and business areas

Volkswagen Passenger Car brand, in the period January-1.1 (1.5) million vehicles to June of this year; 16.5 percent less compared with the previous year is sold. Reverse the trend of T-Cross is a nice way to save, however, to cross the Atlantic was able to increase the sport became very popular. Sales 35. Fell to USD 28.6 billion euros, an increase of 3 percent. The operating result before special items -1,5 (2,3) billion euros worsened. Low fixed costs price positioning and improved Covid-19th we could not offset the decline in the volume of the epidemic. Billion vs -0.6 (dot-PPI input prices) the amount of special effects in the diesel off-topic of the euro during the reporting period was created.

In the first six months, by 2020, sales of the Audi brand in the world 416.000 (632.000) fell onto cars. For more 271.000 (258.000) Audi vehicles FAW-Volkswagen in China by the joint venture was sold. An increasing demand for models of the Q3, A6 and e-tron. Revenues, down from 20.5 28.8 billion) euros decreased. (The operating result before special items in the current year (2.3 billion euros) amounted to EUR -643 million. The decrease in volume transactions valuation of hedging debt and derivative instruments, as well as negative currency effects and increased sales aids, had a negative effect. The deconsolidation from the sale of discounted costs and development costs and help to counter the effect of a fix. The effects of 0.1 billion euros in the first half of 2020 resulted in diesel problem custom. In the financial year of the Audi brand, brands, Lamborghini and Ducati Financial Measures are included. Lamborghini the reporting period, 3.604 (4.710) vehicles and (33.315) 22.790 Ducati motorcycle in the year continued.

The ŠKODA brand vehicles sold in the first half of this year and 2019 372.000 so was 33.6 percent below the comparison value. Scala and Kamiq Kodiaq and Karoq the SUV, was especially popular with customers as well as new models. Sales revenues 7,5 (10,2) billion euro 228 million in operating income (824) fell. In this case, the emission loads of volume and exchange rate development-related fees, due to product cost optimization, as well as lower the development costs are fixed and are not compensated for.

In the reporting period, 57% of 197.000 SEAT vehicles brand, was a decrease in sales compared to the previous year. Ateca and Leon Arona and SUV models were in high demand. 3.7 billion euros, revenues fell by 40.2 percent lower compared to the previous year. The operating result -271 (216) euros that fell, Especially related to the outbreak that resulted in charges related to the volume reduction as well as emission.

Bentley brand sales (4.670) during the first half 4,569 2020 was the vehicle. Mixbedingt income 860 (835) million euros) rose. Depreciation and restructuring measures for high-recurring expenses, depreciation, and Non as a result of the operating result -99 (57) million EUR respectively.

Worldwide sales of Porsche vehicles registered for the period January June 2020 car environment 116,000; a decrease of 14,8 percent compared to the previous year. 11.2 sales revenue (40,5) billion euros. Cost increases as a result of low vehicle sales, digitizing and in particular for the provision of electricity depending on the operating result 1.1 (2.1) billion euro dropped to the level. In addition, currency had a negative impact on development.

In the first half of the year 2020, the Volkswagen Commercial Vehicle Sales, world 157.000 (256.000) tools. Sales of 4.2 billion euros, compared to the previous year %33.3 were lower. The operating result -334 (506) million euros fell due to the decline in volume, starting this year, the levy has increased CO2 workable steering. In addition, higher input costs for new products, depreciation and amortization, fixed cost increases and unfavorable foreign exchange rates negative, and mixed effects on cost optimization, however, a positive effect.

Scania vehicles and services in the first six months of 2020 (52.000) and 31,000 vehicle sales to be reported. Sales revenues 5,3 (7,1) billion euros. Scania vehicles and services operating income 221 (828) decreased by million euros; the decrease was due to lower volume. In the mix improvements and lower fixed costs were offset.

Man nutzfahrzeuge in the period between the months of January and June of this year, 47 thousand units sold and 34.1% of the comparative value 2019 missed. 4.7 revenue (6,3) fell to billion euros. The operating result -423 (248) million EUR respectively. The fall of sounds, the main new and used car, truck, there were costs in connection with the introduction of a new generation.

In the first six months of the year of 2020, electrical engineering, business 1,8 (1,9) amounting to EUR billion in revenue. The unit of the operating result million euros, has created a positive impact Mixveranderungen (42) 21st due to the cost decreased.

Financing, Volkswagen Financial Services -17.4 percent Leasing, service and insurance business), 4 (4.1 million) new agreements (completed the first half of the year. 30. June 2020 the total contract scope, 805 million contracts, representing 0.9 percent less at the end of 2019, stopped. The operating result was 1.2 billion by 2020 (1,3) in the first six months of the euro fell.

The Annual General Meeting will be held on 30. September, 2020, the profit distribution proposal can be adjusted

There are 30 Volkswagen. 2019 2020 fiscal year as the new deadline set for the Ordinary Assembly in September. Originally scheduled for May was postponed after the meeting to spread the corona, is a good example, not in the month of September will take place as usual is applied.

Shareholders, employees and service providers to protect the health of the General Assembly this year is almost done. Coinciding with the new appointment, the directors presented a proposal for the addition of the profit. This Covid in all areas of social and economic life with great distress-19-outbreak of the Volkswagen Group in the world are affected.

Considering the scope and magnitude, and still the board of directors and the supervisory board can be estimated reliably, 4.80 euros per ordinary share per preference share to the further development by the General Assembly, we decided to 4.86 in dividends and Euro. Thus, the fact is the euro 6.50 per ordinary share per preferred share directors of the company for the fiscal year 2019 appropriation of profits proposal and the date for 6.57 million euros fits.

The remaining balance sheet profit of 855 million euros will be forward to new account. Volkswagen AG is committed to the goal of achieving a dividend payout ratio of at least 30 percent.

June 2020 In Half-Year Financial Report January –

(Source: Volkswagen AG)

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