Volkswagen AG

VOW

Equity

ISIN DE0007664005 / Valor 352780

Xetra (2024-09-17)

EUR 98.40+1.18%

Volkswagen AG
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About company

Volkswagen AG is a leading global automobile manufacturer headquartered in Wolfsburg, Germany, with a strong presence in Europe, the Americas, Asia, and Africa. The company operates 114 production facilities across 19 European countries and ten countries in other regions. Volkswagen Group is known for its diverse portfolio of brands, business units, and financial services, all of which are driving the transition towards zero-emission and autonomous mobility. The company's strategic focus is on key technology platforms such as mechatronics, software, battery & charging, and mobility solutions, as it navigates through the largest change process in its history. Additionally, Volkswagen's presence in Berlin at DRIVE showcases the Group's current mobility initiatives and goals in line with the "NEW AUTO" strategy.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Revenue Growth

Volkswagen AG reported a significant increase in revenue for the fourth quarter of 2023. The company's revenue reached €76.2 billion, marking a 12% growth compared to the same period in the previous year. This growth was driven by strong sales across various markets and an increase in demand for electric vehicles.

Net Income

For the fourth quarter of 2023, Volkswagen AG's net income stood at €4.5 billion, reflecting a 15% increase year-over-year. The rise in net income was attributed to higher sales volumes and improved operational efficiencies, despite the challenging economic environment.

Vehicle Sales

Volkswagen AG sold a total of 2.3 million vehicles in the fourth quarter of 2023, which represents a 10% increase compared to the same quarter in 2022. The growth in vehicle sales was primarily driven by the strong performance of the company's electric vehicle lineup and increased market share in key regions.

Dividend Announcement

Volkswagen AG announced a dividend of €6.50 per share for the fiscal year 2023, up from €5.90 per share in the previous year. This increase in dividend reflects the company's strong financial performance and its commitment to returning value to shareholders.

2024 Outlook

Volkswagen AG provided an optimistic outlook for 2024, expecting continued revenue growth and profitability. The company plans to invest heavily in electric vehicle production and digital transformation, aiming to strengthen its market position and meet the growing demand for sustainable mobility solutions.

Summarized from source with an LLMView Source

Key figures

-21.0%1Y

-63.4%3Y

-38.4%5Y

Performance

26.0%1Y

34.4%3Y

38.7%5Y

Volatility