Volkswagen AG

VOW3

Equity

ISIN DE0007664039 / Valor 352781

Xetra (2024-09-17)

EUR 92.32+1.36%

Volkswagen AG
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About company

Volkswagen AG, headquartered in Wolfsburg, Germany, is a global powerhouse in the automotive industry, holding the title of Europe's largest car manufacturer. The company operates on a worldwide scale with 114 production facilities spread across 19 European countries and an additional ten countries in North and South America, Asia, and Africa. Volkswagen AG is known for its diverse portfolio of ten core brands, which are categorized into groups such as Core, Progressive, and Sport Luxury, aiming to meet a wide range of mobility needs while leveraging synergies within the corporate group. The company is actively preparing for the future of mobility with a focus on transforming into a software-driven entity, emphasizing technology platforms that include Mechatronics, Software, Battery & Charging, and Mobility Solutions. This strategic pivot underscores Volkswagen's commitment to shaping the emission-free and autonomous future of mobility.

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 €76.6 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 9% 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's global vehicle sales for the fourth quarter of 2023 totaled 2.7 million units, representing a 7% increase from the same quarter in 2022. The growth in sales was particularly strong in the European and North American markets, with a notable uptick in electric vehicle sales.

Dividend Announcement

Volkswagen AG announced a dividend of €6.50 per share for the fiscal year 2023, up from €6.00 per share in the previous year. This increase 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 an increase in vehicle sales. The company plans to invest heavily in electric vehicle production and new technologies, aiming to strengthen its market position and drive long-term profitability.

Summarized from source with an LLMView Source

Key figures

-15.9%1Y

-51.3%3Y

-40.8%5Y

Performance

22.9%1Y

30.9%3Y

36.5%5Y

Volatility