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"We expect the supply chain bottlenecks to gradually ease in the current year, allowing us to service the high order backlog." Shares in the company rose 7.5% to the top of Frankfurt's benchmark DAX index (.GDAXI) on the news and hit their highest level since Dec. 13. Volkswagen's revenues are forecast to grow by 10-15%, indicating 2023 sales of 307 billion to 331 billion euros, significantly higher than the 280 billion Refinitiv estimate. According to Refinitiv estimates, holders of Volkswagen's preferred shares were expected to get a dividend of 8.46 euros apiece. ($1 = 0.9414 euros)Reporting by Christoph Steitz and Jan Schwartz Editing by Miranda Murray and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen expects vehicle deliveries, sales to rise in 2023
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +1 min

Companies Volkswagen AG FollowFRANKFURT, March 3 (Reuters) - Volkswagen (VOWG_p.DE), Europe's largest carmaker, expects revenues and vehicle deliveries to rise in 2023, it said on Friday, citing a strong order backlog and the easing of chip shortages and supply chain issues. Vehicle deliveries are expected to rise to around 9.5 million in 2023, the company said, up from 8.26 million last year. Sales are forecast to grow by 10-15%, indicating 2023 sales of 307 billion to 331 billion euros ($326-$352 billion). According to Refinitiv estimates, 2023 sales are seen at 280 billion euros. Dividends are to increase by 1.20 euros per share, rising to 8.70 euros per ordinary share and to 8.76 euros per preferred share.

☆ Volkswagen boosts earnings in 2022, high inventory drags down cash flow
▼ + stars: | 2023-02-07 | by ( Victoria Waldersee | ) www.reuters.com time to read: +2 min

Earnings of 22.5 billion euros ($24.11 billion) put Volkswagen at the higher end of the 7-8.5% margin it had forecast in March of last year, with sales beating 2021 figures at around 279 billion euros compared with 250.2 billion the year prior. Still, net cash flow came to only around 5 billion euros, under the target of matching 2021's 8.6 billion euros, which the company blamed on an unstable supply chain leaving it sitting on high inventories of unfinished goods, supplies and materials. "Current planning for 2023 suggests that this year-end 2022 increase in working capital will largely reverse during the year," it added in its statement. Volkswagen also warned in January that the outlook for 2023 remained clouded by weak economies and supply-chain shortages. ($1 = 0.9331 euro)Reporting by Victoria Waldersee in Berlin Editing by Thomas Escritt and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen announces changes to Mexico, Canada supervisory boards
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: 1 min

Companies Volkswagen AG FollowFRANKFURT, Jan 12 (Reuters) - German car company Volkswagen Group (VOWG_p.DE) announced on Thursday promotions in its North American operations, CFO and COO Arno Antlitz posted on LinkedIn. Volkswagen of America President and CEO Pablo Di Si will take on the role of chairman of the company's Mexican supervisory board, and Andrew Savvas, Chief Sales & Marketing Officer at Volkswagen of America, will become chairman of its Canadian supervisory board. Both appointments take effect immediately, in a region Antlitz describes as "a cornerstone of the group's strategy." Reporting by Emma-Victoria Farr, editing by Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen to refocus on raising productivity, warns of challenging 2023 - finance chief
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Dec 16 (Reuters) - Volkswagen (VOWG_p.DE) will refocus on raising productivity after numerous challenging years and is targeting margin parity between electric and combustion engine cars in 2-3 years if raw material prices normalise, its finance chief said on Friday. "The challenges will not become easier next year," Arno Antlitz said on the sidelines of the carmaker's extraordinary general meeting in Berlin, pointing to order books of 1.8 million in Europe with demand far oustripping the pace of supply as chip supply remained tight. Reporting by Victoria Waldersee, Jan Schwartz; editing by Matthias WilliamsOur Standards: The Thomson Reuters Trust Principles.

[1/2] Volkswagen logo is pictured at the 2022 New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Brendan McDermidSummarySummary Companies Volkswagen shareholders to vote on special dividend payout from Porsche listingCarmaker on "solid footing" - CEODecision on battery plant site in Eastern Europe "soon" - CEOBERLIN, Dec 16 (Reuters) - Volkswagen (VOWG_p.DE) shareholders gathered in Berlin on Friday to vote at an extraordinary general meeting on the payout of a special dividend of 19.06 euros ($20.28) per share from the proceeds of the listing of Porsche AG (P911_p.DE). A total of 9.6 billion euros, or 49% of the proceeds of the listing, will be paid out in January if shareholders vote in favour, as is widely expected. But through this it has also become clear that the current valuation of Volkswagen is imbalanced. ($1 = 0.9398 euros)Reporting by Victoria Waldersee, Jan Schwartz; editing by Rachel More and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

FRANKFURT/HAMBURG, Nov 18 (Reuters) - German carmaker Volkswagen (VOWG_p.DE) is holding discussions with investors to join its battery division ahead of a possible partial initial public offering (IPO) of the subsidiary, two people familiar with the matter told Reuters. The idea is to bring in investors pre-IPO so Volkswagen can gauge how the division - named PowerCo - might be valued in a potential flotation, the sources said, adding that Volkswagen is working with advisers on a potential deal structure. Volkswagen has set aside 20 billion euros ($21 billion) for investment in its battery cell business, with the PowerCo unit managing its battery production and research from mining to recycling and projects including energy storage systems. Former Volkswagen CEO Herbert Diess floated the idea of a listing in May last year as a means of funding the carmaker's battery expansion plans. Volkswagen's US charging station network Electrify America, in which Siemens (SIEGn.DE) has invested a low three-digit million amount, could serve as a model for investor participation, the second source said.

☆ Volkswagen battery IPO could be next, says CFO
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +1 min

"We do not rule out an IPO of the battery unit, but the financial flexibility we won today allows us to further strengthen our work in batteries alone. Antlitz brushed aside rumours that Thursday's Porsche listing could lead to a listing of Audi, another premium brand and huge moneymaker for Volkswagen. Register now for FREE unlimited access to Reuters.com Register"The next project is strategic partnerships or a potential IPO of the battery unit - I can't say more for now," he said. Volkswagen has set aside 20 billion euros ($20.38 billion) for investment in its battery cell business, with the PowerCo unit managing its battery production and research from mining to recycling and projects including energy storage systems. It has set aside a further 10 billion euros for investment along the supply chain, such as sourcing cathode materials.

☆ Antlitz: IPO will strengthen investment in digitalisation and electrification
▼ + stars: | 2022-09-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAntlitz: IPO will strengthen investment in digitalisation and electrificationArno Antlitz, CFO & COO at Volkswagen AG, discusses Porsche's debut in one of Europe's largest ever IPOs.

☆ Porsche shares rise in landmark Frankfurt debut
▼ + stars: | 2022-09-29 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Porsche shares rose in their stock market debut Thursday, in one of the biggest public offerings in Europe ever. Parent company Volkswagen is offering 911 million shares, a reference to Porsche's famous 911 model. "Today is a great day for Porsche and a great day for Volkswagen," Arno Antlitz, Volkswagen's chief financial officer told CNBC's "Squawk Box Europe" Thursday. The organization knew the IPO would be successful, according to Antlitz, citing "strong financials" and "a very convincing strategy for the future." "We were convinced despite the challenging environment this IPO would prove successful, and we were right," he told CNBC's Annette Weisbach.

☆ Porsche IPO: Volkswagen targets 75 billion euro valuation
▼ + stars: | 2022-09-18 | by ( ) edition.cnn.com time to read: +2 min

Volkswagen is targeting a valuation of up to 75 billion euros ($75.1 billion) for luxury sportscar maker Porsche, it said on Sunday, in what will be Germany’s second-largest initial public offering (IPO) in history. Volkswagen (VLKAF) will price preferred shares in the flotation of Porsche AG at 76.50 euros to 82.50 euros per share, the carmaker said, translating into a valuation of 70 billion to 75 billion euros. As part of the listing, 911 million Porsche AG shares will be divided into 455.5 million preferred shares and 455.5 million ordinary shares. Total proceeds from the sale will be 18.1 billion to 19.5 billion euros. A stock exchange prospectus is expected to be published on Monday, after which institutional and private investors can subscribe to Porsche shares.

Employees of German car manufacturer Porsche install the windshield of a Porsche 911 at the Porsche factory in Stuttgart-Zuffenhausen, Germany, February 19, 2019. Volkswagen will price preferred shares in the flotation of Porsche AG at 76.50 euros to 82.50 euros per share, the carmaker said, translating into a valuation of 70 billion to 75 billion euros. Up to 113,875,000 preferred shares, carrying no voting rights, will be placed with investors over the course of the IPO. Total proceeds from the sale will be 18.1 billion to 19.5 billion euros. A stock exchange prospectus is expected to be published on Monday, after which institutional and private investors can subscribe to Porsche shares.

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