Overview of key figures for the Brand Group Volume:
Key figures | Brand Group Volume Q1 2023 (+development) | Brand Group Volume Q1 2022 |
Unit sales | 1,193,000 vehicles (+30 %) | 918,000 vehicles |
Sales revenue | EUR 33.16 billion (+36 %) | EUR 24.36 billion |
Operating profit before special items | EUR 1.74 billion (+99 %) | EUR 0.88 billion |
Operating return on sales before special items | 5.3 %(+1.7 %) | 3.6% |
Net cash flow | EUR 1.7 billion | EUR 0.5 billion |
The positive Q1 2023 performance of the Volkswagen Group’s Brand Group Volume is attributed to the successful development of individual brands, Volkswagen, Škoda, SEAT/CUPRA, and Volkswagen Commercial Vehicles.
The Volkswagen brand saw a slight upward trend in deliveries, with unit sales of about 70,000 vehicles accounting for nearly half of all BEVs delivered by the Group, despite supply constraints. Operating profit before special items came in at EUR 608 million, an improvement on the prior-year quarter figure.
Škoda Auto had a strong Q1 with deliveries of 209,600 vehicles, generating sales revenue of EUR 6.8 billion, and an operating profit before special items of EUR 542 million.
SEAT/CUPRA reported an operating profit of EUR 144 million, a significant improvement from the previous year, thanks to high demand and improved components supply.
Volkswagen Commercial Vehicles continued its positive trend with deliveries of 97,189 vehicles, driven by positive pricing and mix effects. Operating profit before special items soared to EUR 171 million.
The Volkswagen Group’s Brand Group Volume aims to reduce complexity and leverage existing synergy potential, with a consolidated operating return on sales target of 8 percent from 2025. The brand group expects a consolidated operating return on sales significantly higher than the 3.6 percent posted for 2022.
Media contact:
Christoph Adomat
Communications Volume Brand Group
Tel. +49 (0) 160-90832110
christoph.adomat@volkswagen.de
SOURCE: Volkswagen AG