DOCSLIB.ORG

Financial Sustainability on Core Strengths

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Financial Sustainability on Core Strengths Volkswagen Group: Financial sustainability on core strengths Christine Ritz & Andreas Buchta Group Investor Relations, Volkswagen Aktiengesellschaft German Investment Seminar, New York, 13-14 January 2014 Disclaimer This presentation contains forward-looking statements and information on the business development of the Volkswagen Group. These statements may be spoken or written and can be recognized by terms such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “will” or words with similar meaning. These statements are based on assumptions relating to the development of the economies of individual countries, and in particular of the automotive industry, which we have made on the basis of the information available to us and which we consider to be realistic at the time of going to press. The estimates given involve a degree of risk, and the actual developments may differ from those forecast. Consequently, any unexpected fall in demand or economic stagnation in our key sales markets, such as in Western Europe (and especially Germany) or in the USA, Brazil or China, will have a corresponding impact on the development of our business. The same applies in the event of a significant shift in current exchange rates relative to the US dollar, sterling, yen, Brazilian real, Chinese rinminbi and Czech koruna. If any of these or other risks occur, or if the assumptions underlying any of these statements prove incorrect, the actual results may significantly differ from those expressed or implied by such statements. We do not update forward-looking statements retrospectively. Such statements are valid on the date of publication and can be superceded. This information does not constitute an offer to exchange or sell or an offer to exchange or buy any securities. 2 Development World Car Market1) vs. Volkswagen Group Passenger Car Deliveries2) (Growth y-o-y in deliveries to customers, January to December 2013 vs. 2012) bf World: Car Market: 5.0% Volkswagen Group Passenger Cars: 5.1% Car Market VW Group Car Market VW Group Car Market VW Group Cars + LCV 7.3% 5.4% -1.9% -0.2% -3.9% -0.6% North America Western Europe Central & Eastern Europe Car Market VW Group Car Market VW Group Car Market VW Group 13.6% 14.8% 7.5% 8.6% -0.7% -13.3% South America Rest of World Asia Pacific 1) Preliminary figures 2) Figures excl. Volkswagen Commercial Vehicles, Scania and MAN; incl. Porsche since 08/2012 3 Volkswagen Group – Deliveries to Customers by Brands (January to December 2013 vs. 2012) ´000 units January – December 2012 12,000 1) ~ +5% January – December 2013 >9,700 10,000 9,300 8,000 +3.4% 5,738 5,932 6,000 4,000 +8.3% -2.0% +10.6% 2,000 1,455 1,575 +18.9% 939 921 321 355 60 162 9 10 0 Volkswagen Group (since 08/12) 1) Figures incl. Scania and MAN (estimated figures) and Volkswagen Commercial Vehicles. Porsche AG fully consolidated as from 1 August 2012 4 Financial Highlights – Volkswagen Group (January to September 2013 vs. 2012)1) Sales revenue Operating profit Profit before tax Profit after tax € million € million € million € million + 1.0% -3.4% - 59.1% - 66.7% 22,957 144,226 145,673 20,152 8,857 8,557 9,399 6,702 2012 2013 2012 2013 2012 2013 2012 2013 1) The prior-year figures were adjusted to reflect application of IAS 19. 5 Volkswagen Group – Analysis of Operating Profit € billion 10.0 1.1 -0.8 8.9 -0.4 9.0 -0.3 -0.1 0.2 8.6 8.0 7.0 6.0 5.0 4.0 Jan – Sept Volume/ Mix/ Exchange Product Fixed costs/ Commercial Financial Jan – Sept Prices1) rates costs start-up costs 2012 Vehicles, Services 2013 Power Division Passenger Cars Engineering 1) Incl. Porsche AG. 6 Volkswagen Group – Analysis by Business Line1) (January – September 2013) Vehicle sales Sales revenue Operating profit 2) thousand vehicles/ € million 2013 2012 2013 2012 2013 2012 Volkswagen Passenger Cars 3,499 3,638 74,233 78,972 2,117 2,886 Audi 1,004 1,002 36,965 37,667 3,743 4,197 ŠKODA 524 551 7,365 7,868 371 567 SEAT 335 315 5,017 4,798 -93 -95 Bentley 7 7 1,069 1,051 98 73 Porsche3) 115 22 10,419 2,167 1,893 387 Volkswagen Commercial Vehicles 325 330 7,011 7,079 342 300 Scania3) 56 47 7,365 6,724 691 688 MAN3) 98 101 11,342 11,754 47 518 VW China4) 2,294 1,923 - - - - Other -1,017 -959 -29,370 -27,176 -1,7775) -1,6515) Volkswagen Financial Services - - 14,258 13,322 1,126 987 Volkswagen Group 7,241 6,978 145,673 144,226 8,557 8,857 Automotive Division 7,241 6,978 129,171 129,573 7,225 7,751 of which: Passenger Cars6) 6,761 6,499 103,849 104,400 6,835 7,242 of which: Commercial Vehicles, Power Engineering6) 480 479 25,321 25,172 390 509 Financial Services Division - - 16,502 14,653 1,333 1,106 1) All figures shown are rounded, minor discrepancies may arise from addition of these amounts. 2) Prior-year figure adjusted due to the revised IAS 19. 3) Incl. financial services; Porsche since August 1, 2012. 4) Sales revenue and operating profit of the JV’s in China are not included in the Group figures. The Chinese companies are accounted for using the equity method and recorded an operating profit (proportionate) of €3,530 million (€2,806 million). 5) Mainly intragroup items, in particular from elimination of intercompany profits; incl. depreciation and amortization of identifiable assets as part of the PPA for Scania, Porsche Holding Salzburg, MAN and Porsche. 6) Volkswagen Commercial Vehicles has been reported within the Automotive Division under commercial vehicles since January 1, 2013; the prior-year figures have been adjusted. 7 Automotive Division – Strong Cash Generation1) (January – September 2013) in € billion 18.0 15.0 12.0 -6.4 (5.0%2)) 9.0 14.7 -2.6 6.0 0.4 -1.6 3.0 6.1 4.4 0.0 2012 11.9 -6.0(4.6%2)) -1.7 0.2 4.5 -3.9 0.6 Cash flow Capex Capitalized Other Net cash flow Acquisition Net cash flow from operating R&D costs before equity and disposal activities investments of equity investments 1) Including allocation of consolidation adjustments between Automotive and Financial Services divisions. 2) Capital expenditure for property, plant and equipment in % of Automotive sales revenue. 8 Volkswagen Group – Outlook 2013 + 4.8% 9,276 Deliveries to 6,855 7,185 We expect … customers (million vehicles) ■ deliveries to customers to increase y-o-y. ■ sales revenue to exceed the prior-year figure. + 1.0% ■ positive effects from our attractive model 192.7 144.2 145.7 range and strong market position. Sales revenue (€ billion) We have the goal… -3.4% ■ to match the prior-year’s level of operating 11.5 profit in 2013, even with an ongoing uncertainty 8.9 8.6 Operating profit in the economic environment. (€ billion) ■ This applies equally for the Passenger Cars Business Area, the Commercial Vehicles / Power Engineering Business Area and the Financial Services Division. 2012 2013 2012 2013 Jan - Sept Full Year 9 Volkswagen Group – A global economic and environmental leader by 2018 Growth market focus Potential upside Increased market penetration Modular toolkit strategy Product portfolio extension 1 Emerging markets expansion Reduction in investment, North American expansion Balanced global footprint development and unit costs and market recovery Scale and efficiency effects Commercial vehicle strategy 6 Leading in 2 Increased production flexibility and market recovery customer satisfaction Reduced time to market and quality Financial Services: strengthen the automotive value chain Volkswagen Group Top profit before tax employer margin > 8% Volumes Capital discipline > 10 million units p.a.2) > 16% RoI target in Synergy potential automotive business Leveraging best practices 20% RoE1) goal in across the Group 5 3 Operating profit measures Financial Services Purchasing, production, and Strong cost control distribution benefits 4 Process/product optimization Regional scale effects 1) Normalized RoE based on 8% equity ratio 2) Including China Note: All stated Volkswagen Group figures represent financial targets for 2018 10 Volkswagen Group – Leveraging the power of three strong pillars Automotive Division Financial Services Division Commercial Vehicles / Passenger Cars Volkswagen Financial Services Power Engineering Europe / Asia-Pacific / North and South America Financial Services USA / Canada / Spain / Argentina Scania Financial Services MAN Financial Services Porsche Holding Financial Services Porsche Financial Services Remaining companies 11 Passenger Cars – Nine independent brands addressing all customer needs Automotive Division Passenger Cars Remaining companies 12 Passenger Cars – Strong market penetration through well positioned and differentiated brands Sporty Value for Money Positioning focus Volume brands: . Volkswagen Mainstream mobility for the upmarket driver . ŠKODA Economical Functional and roomy cars for the product-value focussed audience . SEAT Sporty and stylish for the young and young-in-mind Premium driver Premium brands: . Audi Progressive prestige for innovation seekers . Porsche Family Sporty prestige for the elite high end client Source: Volkswagen Group, EU 5 markets 13 Key sales markets offer substantial growth opportunities bf Market growth 2012 – 2018 (million units) 5.4 4.2 4.4 19.3 19.5 15.0 +29% 17.2 13.7 28.8 13.2 24.6 2012 2015 2018 +14% +14% 18.6 Central & Eastern 2012 2015 2018 2012 2015 2018 Europe +55% (incl. Russia) Western Europe1) North America 2012 2015 2018 5.1 China (incl. HK) 100 3.3 3.7 90 7.4 79 +55% 5.9 6.5 2012 2015 2018 +26% +26% India 2012 2015 2018 2012 2015 2018 1) South America2) Includes Cyprus and Malta 2) Includes Central America and Caribbean World Source: IHS Automotive (data status: October 2013), rounded Note: Market = Cars and LCVs 14 Above-average growth rates in premium and SUV segments bf Compound annual growth rates 2012 – 2018 6.3% 5.1% 4.3% 4.3% 14.1% 3.7% 3.5% SUV 11.8% 2.2% Hatch 2.2% 2.1% SUV 4.2 0.3 1.1 SUV Central & Eastern 7.5% 17.2 1.6 1.4 13.2 2.6 1.9 Europe (incl.
Load more

Recommended publications
  • The Porsche Type List
    The Porsche Type List When Professor Ferdinand Porsche started his business, the company established a numeric record of projects known as the Type List. As has been reported many times in the past, the list began with Type 7 so that Wanderer-Werke AG did not realize they were the company’s first customer. Of course, as a result, Porsche’s famous car, the 356 as defined on the Type List, was actually Porsche’s 350th design project. In reviewing the Porsche Type List enclosed on this website, you might notice several interesting aspects. First, although there is a strong chronological alignment of Type numbers, it is certainly not perfect. No official explanation exists as to why this occurs. It is possible that Type numbers were originally treated only as an informal configuration and data management tool and today’s rigorous examination of Porsche history is but an aberration of 20/20 hindsight. Secondly, you might also notice that there were variations on Type List numbers that were probably made rather spontaneously. For example, consider the Type 60 with its many “K” variations to designate different body styles. Also consider how the Type 356 was initially a tube frame chassis then changed to a sheet metal chassis with the annotation 356/2 but the /2 later reused to describe different body/engine offerings. Then there were the variants on the 356 annotated as 356 SL, 356A, 356B, and 356C designations and in parallel there were the 356 T1 through 356 T7 designations. Not to mention, of course, the trademark infringement threat that caused the Type 901 to be externally re-designated as the 911.
    [Show full text]
  • Brochure: Volkswagen 2H Amarok MY13 (January 2013)
    The Amarok Range 02 – The Amarok Range 02 The Amarok 14 Exterior 15 Wheels 16 Accessories 18 Safety 19 4MOTION 20 Technical specifications 23 Drivetrain 23 Measurements and statistics 25 Standard and optional equipment 28 Paint colours 29 Trim 30 Owning a Volkswagen 30 Environment 31 General information The Amarok Range – 03 It’s somewhat ironic that Amarok has proved But the Amarok is also extremely smart, The Amarok itself in the deserts of South America given uniting unmatched cross-country mobility that its name translates to “arctic wolf” in and efficiency in this segment. These Range. the Inuit language. considerable attributes were foremost in the minds of the judges who awarded The Eskimo people of Northern Canada Amarok 4x4 Australia Magazine’s ‘Ute of and Greenland believe the mythical Amarok the Year 2011’. Volkswagen Amarok went to be the king of the wild. It is agile, powerful back to back and claimed the ‘Ute of the and robust. In other words, the Volkswagen Year 2012’ award, proving the Amarok’s Amarok is aptly named. Certainly, one part king status in the marketplace. of the Amarok’s personality is about being tough. After all, it is a world class ute Built on a robust ladder frame chassis and created to match heavy-duty requirements. distinguished by the high standards of 04 – The Amarok Range Volkswagen design, engineering and build smooth 8-speed automatic (on the TDI420 handling and grip characteristics for quality, this uncompromising ute is packed engine). The wide spread of transmission off-road situations. Huge space in the with clever technology beneath its svelte coat.
    [Show full text]
  • Separate Financial Statements Fiscal Year 2019
    201Separate financial9 statements PPorscheorsche TaycanTaycan TurboTurbo S 3 Content Group management report and management report of Porsche Automobil Holding SE 6 Fundamental information about the group 10 Report on economic position 12 Significant events and developments at the Porsche SE Group 12 Significant events and developments at the Volkswagen Group 20 Business development 24 Results of operations, financial position and net assets 31 Porsche Automobil Holding SE (financial statements pursuant to the German Commercial Code) 37 Sustainable value enhancement in the Porsche SE Group 41 Overall statement on the economic situation of Porsche SE and the Porsche SE Group 43 Remuneration report 44 Opportunities and risks of future development 52 Publication of the declaration of compliance and corporate governance report 78 Subsequent events 79 Forecast report and outlook 80 Glossary 85 4 Financials 86 Balance sheet of Porsche Automobil Holding SE 90 Income statement of Porsche Automobil Holding SE 91 Notes to the consolidated fi nancial statements 92 Independent auditor’s report 212 Responsibility statement 220 5 VVolkswagenolkswagen IID.3D.3 6 1 Group management report and management report of Porsche Automobil Holding SE 7 8 Group management report and management report of Porsche Automobil Holding SE 6 Fundamental information about the group 10 Report on economic position 12 Significant events and developments at the Porsche SE Group 12 Significant events and developments at the Volkswagen Group 20 Business development 24 Results
    [Show full text]
  • The History of the Porsche Engineering Office the Porsche Sports Car Brand Began in 1948 When the First Vehicle to Carry the Porsche Name Was Built
    newsroom Company Oct 10, 2017 The history of the Porsche engineering office The Porsche sports car brand began in 1948 when the first vehicle to carry the Porsche name was built. Ferdinand Porsche founded his engineering office in 1931. Working until his death in 1951, the exceptionally creative technician, formerly a designer of electric cars and racing cars and the chief developer at Daimler-Benz, laid the foundations for the global company that would later bear the same name. Today, in September 2017, the founding, philosophy and development of Porsche’s predecessor company has been documented in great detail in the book “Porsche: Vom Konstruktionsbüro zur Weltmarke” (“Porsche: From Engineering office to Global Brand”) from publisher Siedler Verlag. The renowned historian Wolfram Pyta tells the story of Porsche GmbH/KG in its turbulent early years: from the origins of the Volkswagen to the transition to a wartime economy under National Socialism and the development of battle tanks, right up to the establishment of the automotive brand carrying the Porsche name. The book outlines the direction in which the creative dynamics of Porsche's founding years under National Socialism led the company, why the company had to undergo a fresh start after the war without its founder and how the global company ultimately emerged from the engineering office of old. Page 1 of 5 Ferdinand Porsche 1937 with a Volkswagen prototype of the series W30 The book devotes particular attention to studying the role of Professor Ferdinand Porsche under National Socialism. The success story of Porsche’s engineering office is closely linked to the “Third Reich” and Adolf Hitler himself.
    [Show full text]
  • Annual Financial Statements of Volkswagen AG 1
    Balance Sheet Annual Financial Statements of Volkswagen AG 1 Annual Financial Statements of Volkswagen AG Balance Sheet of Volkswagen AG as of December 31, 2018 € million Note Dec. 31, 2018 Dec. 31, 2017 Assets Fixed assets Intangible assets 1 230 269 Tangible assets 1 6,731 6,972 Long-term financial assets 1 112,752 106,462 119,713 113,703 Current assets Inventories 2 5,140 4,889 Receivables and other assets 3 36,895 32,192 Cash-in-hand and bank balances 4 14,595 5,798 56,630 42,880 Prepaid expenses 70 111 Total assets 176,412 156,693 Equity and Liabilities Equity Subscribed capital 5 1,283 1,283 Ordinary shares 755 755 Preferred shares 528 528 Contingent capital - - Capital reserve 6 15,021 15,021 Revenue reserves 7 14,367 11,953 Net retained profits 2,419 2,181 33,090 30,438 Special tax-allowable reserves 8 19 21 Provisions 9 39,870 39,930 Liabilities 10 102,308 85,064 Deferred income 11 1,126 1,240 Total equity and liabilities 176,412 156,693 2 Annual Financial Statements of Volkswagen AG Income Statement Income Statement of Volkswagen AG for the Period January 1 to December 31, 2018 € million Note 2018 2017 Sales 12 78,001 76,729 Cost of sales – 72,700 – 73,355 Gross profit on sales 5,301 3,375 Distribution expenses – 5,760 – 5,677 General and administrative expenses – 1,865 – 1,426 Other operating income 13 5,673 6,451 Other operating expenses 14 – 6,089 – 6,605 Financial result 15 8,264 8,644 Write-downs of long-term financial assets and securities classified as current assets - 0 Taxes on income – 907 – 409 Earnings after taxes 4,620 4,353 Net income / loss for the year 4,620 4,353 Notes to the annual financial statements Annual Financial Statements of Volkswagen AG 3 Notes to the Annual Financial Statements of Volkswagen AG for the Period ended December 31, 2018 Financial statements in accordance with the German Commercial Code Volkswagen AG is domiciled in Wolfsburg, Germany, and entered in the commercial register at the Braun- schweig Local Court under no.
    [Show full text]
  • In the Wild, It's an SUV. in Its Lines, a Coupe. in Its Handling, a Sports Car
    CHRISTOPHORUS | 365 MACAN PERFORMANCE CHRISTOPHORUS | 365 M A C A N In the wild, it’s an SUV. In its lines, a coupe. In its handling, a sports car. In everything, a Porsche. By Jürgen Zöllter 12 13 EN_CPM_365_012-027.indd 12 15.01.14EN_CPM_365_012-027.indd 10:50 13 15.01.14 10:50 CHRISTOPHORUS | 365 MACAN PERFORMANCE CHRISTOPHORUS | 365 S P E E D The first Porsche in the compact SUV segment sets new standards in terms of driving dynamics and pleasure 14 15 EN_CPM_365_012-027.indd 14 15.01.14EN_CPM_365_012-027.indd 10:50 15 15.01.14 10:50 CHRISTOPHORUS | 365 MACAN PERFORMANCE CHRISTOPHORUS | 365 rake, take the corner, hit the gas, and accelerate out of the curve at full throttle. If you counter- steer before the apex of the curve to keep the somewhat Bdrifting rear-end under control, you’ve S graduated from the Porsche school for rear- wheel-drive sports cars. Like Hans-Jürgen Wöhler, the longtime head of the Boxster P and Cayman mid-engine model lines who is now responsible for that tingling and fe- rocious feeling in sporty, yet family- and A terrain-friendly, Porsche models. Wöhler knows all about controlled driving plea- sure—he lives and breathes it. But today C he’s not driving a mid-engine Boxster with E rear-wheel drive … The basic geometry for agility: Low center e model-line director juggles the latest of gravity, 2,807 mm model from Porsche on the curvy test-track, wheelbase, 1,655 mm a compact, coupe-esque, catlike SUV: the front track width, Macan.
    [Show full text]
  • Global Monthly Is Property of John Doe Total Toyota Brand
    A publication from April 2012 Volume 01 | Issue 02 global europe.autonews.com/globalmonthly monthly Your source for everything automotive. China beckons an industry answers— How foreign brands are shifting strategies to cash in on the world’s biggest auto market © 2012 Crain Communications Inc. All rights reserved. March 2012 A publication from Defeatglobal spurs monthly dAtA Toyota’s global Volume 01 | Issue 01 design boss Will Zoe spark WESTERN EUROPE SALES BY MODEL, 9 MONTHSRenault-Nissan’sbrought to you courtesy of EV push? www.jato.com February 9 months 9 months Unit Percent 9 months 9 months Unit Percent 2011 2010 change change 2011 2010 change change European sales Scenic/Grand Scenic ......... 116,475 137,093 –20,618 –15% A1 ................................. 73,394 6,307 +67,087 – Espace/Grand Espace ...... 12,656 12,340 +316 3% A3/S3/RS3 ..................... 107,684 135,284 –27,600 –20% data from JATO Koleos ........................... 11,474 9,386 +2,088 22% A4/S4/RS4 ..................... 120,301 133,366 –13,065 –10% Kangoo ......................... 24,693 27,159 –2,466 –9% A6/S6/RS6/Allroad ......... 56,012 51,950 +4,062 8% Trafic ............................. 8,142 7,057 +1,085 15% A7 ................................. 14,475 220 +14,255 – Other ............................ 592 1,075 –483 –45% A8/S8 ............................ 6,985 5,549 +1,436 26% Total Renault brand ........ 747,129 832,216 –85,087 –10% TT .................................. 14,401 13,435 +966 7% RENAULT ........................ 898,644 994,894 –96,250 –10% A5/S5/RS5 ..................... 54,387 59,925 –5,538 –9% RENAULT-NISSAN ............ 1,239,749 1,288,257 –48,508 –4% R8 ................................
    [Show full text]
  • Volkswagen AG Annual Report 2009
    Driving ideas. !..5!,2%0/24 Key Figures MFCBJN8><E>IFLG )''0 )''/ Mfcld\;XkX( M\_`Zc\jXc\jle`kj -#*'0#.+* -#).(#.)+ "'%- Gif[lZk`fele`kj -#',+#/)0 -#*+-#,(, Æ+%- <dgcfp\\jXk;\Z%*( *-/#,'' *-0#0)/ Æ'%+ )''0 )''/ =`eXeZ`Xc;XkX@=IJj #d`cc`fe JXc\ji\m\el\ (',#(/. ((*#/'/ Æ.%- Fg\iXk`e^gif]`k (#/,, -#*** Æ.'%. Gif]`kY\]fi\kXo (#)-( -#-'/ Æ/'%0 Gif]`kX]k\ikXo 0(( +#-// Æ/'%- Gif]`kXkki`YlkXYc\kfj_Xi\_fc[\ijf]MfcbjnX^\e8> 0-' +#.,* Æ.0%/ :Xj_]cfnj]ifdfg\iXk`e^XZk`m`k`\j)()#.+( )#.') o :Xj_]cfnj]ifd`em\jk`e^XZk`m`k`\j)('#+)/ ((#-(* Æ('%) 8lkfdfk`m\;`m`j`fe* <9@K;8+ /#'', ()#('/ Æ**%0 :Xj_]cfnj]ifdfg\iXk`e^XZk`m`k`\j) ()#/(, /#/'' "+,%- :Xj_]cfnj]ifd`em\jk`e^XZk`m`k`\j)#,('#),) ((#+.0 Æ('%. f]n_`Z_1`em\jkd\ekj`egifg\ikp#gcXekXe[\hl`gd\ek),#./* -#..* Æ(+%- XjXg\iZ\ekX^\f]jXc\ji\m\el\ -%) -%- ZXg`kXc`q\[[\m\cfgd\ekZfjkj (#0+/ )#)(- Æ()%( XjXg\iZ\ekX^\f]jXc\ji\m\el\ )%( )%) E\kZXj_]cfn )#,-* Æ)#-.0 o E\kc`hl`[`kpXk;\Z%*( ('#-*- /#'*0 "*)%* )''0 )''/ I\klieiXk`fj`e I\kliefejXc\jY\]fi\kXo (%) ,%/ I\kliefe`em\jkd\ekX]k\ikXo8lkfdfk`m\;`m`j`fe *%/ ('%0 I\kliefe\hl`kpY\]fi\kXo=`eXeZ`XcJ\im`Z\j;`m`j`fe -.%0 ()%( ( @eZcl[`e^mfcld\[XkX]fik_\m\_`Zc\$gif[lZk`fe`em\jkd\ekjJ_Xe^_X`$MfcbjnX^\e8lkfdfk`m\:fdgXepCk[% Xe[=8N$MfcbjnX^\e8lkfdfk`m\:fdgXepCk[%#n_`Z_Xi\XZZflek\[]filj`e^k_\\hl`kpd\k_f[% ) )''/X[aljk\[% * @eZcl[`e^XccfZXk`fef]Zfejfc`[Xk`feX[aljkd\ekjY\kn\\ek_\8lkfdfk`m\Xe[=`eXeZ`XcJ\im`Z\j[`m`j`fej% + Fg\iXk`e^gif]`kgclje\k[\gi\Z`Xk`fe&Xdfik`qXk`feXe[`dgX`id\ekcfjj\j&i\m\ijXcjf]`dgX`id\ekcfjj\jfegifg\ikp#gcXekXe[\hl`gd\ek# ZXg`kXc`q\[[\m\cfgd\ekZfjkj#c\Xj`e^Xe[i\ekXcXjj\kj#^ff[n`ccXe[]`eXeZ`XcXjj\kjXji\gfik\[`ek_\ZXj_]cfnjkXk\d\ek% , <oZcl[`e^XZhl`j`k`feXe[[`jgfjXcf]\hl`kp`em\jkd\ekj1Ñ.#,/,d`cc`feÑ/#/.0d`cc`fe % - Gif]`kY\]fi\kXoXjXg\iZ\ekX^\f]Xm\iX^\\hl`kp% .
    [Show full text]
  • Download PDF, 19 Pages, 505.25 KB
    VOLKSWAGEN AKTIENGESELLSCHAFT Shareholdings of Volkswagen AG and the Volkswagen Group in accordance with sections 285 and 313 of the HGB and presentation of the companies included in Volkswagen's consolidated financial statements in accordance with IFRS 12 as of 31.12.2019 Exchange rate VW AG 's interest Equity Profit/loss (1€ =) in capital in % in thousands, in thousands, Name and domicile of company Currency Dec. 31, 2019 Direct Indirect Total local currency local currency Footnote Year I. PARENT COMPANY VOLKSWAGEN AG, Wolfsburg II. SUBSIDIARIES A. Consolidated companies 1. Germany ASB Autohaus Berlin GmbH, Berlin EUR - 100.00 100.00 16,272 1,415 2018 AUDI AG, Ingolstadt EUR 99.64 - 99.64 13,701,699 - 1) 2019 Audi Berlin GmbH, Berlin EUR - 100.00 100.00 9,971 - 1) 2018 Audi Electronics Venture GmbH, Gaimersheim EUR - 100.00 100.00 60,968 - 1) 2019 Audi Frankfurt GmbH, Frankfurt am Main EUR - 100.00 100.00 8,477 - 1) 2018 Audi Hamburg GmbH, Hamburg EUR - 100.00 100.00 13,425 - 1) 2018 Audi Hannover GmbH, Hanover EUR - 100.00 100.00 16,621 - 1) 2018 AUDI Immobilien GmbH & Co. KG, Ingolstadt EUR - 100.00 100.00 82,470 3,399 2019 AUDI Immobilien Verwaltung GmbH, Ingolstadt EUR - 100.00 100.00 114,355 1,553 2019 Audi Leipzig GmbH, Leipzig EUR - 100.00 100.00 9,525 - 1) 2018 Audi München GmbH, Munich EUR - 100.00 100.00 270 - 1) 2018 Audi Real Estate GmbH, Ingolstadt EUR - 100.00 100.00 9,859 4,073 2019 Audi Sport GmbH, Neckarsulm EUR - 100.00 100.00 100 - 1) 2019 Audi Stuttgart GmbH, Stuttgart EUR - 100.00 100.00 6,677 - 1) 2018 Auto & Service PIA GmbH, Munich EUR - 100.00 100.00 19,895 - 1) 2018 Autonomous Intelligent Driving GmbH, Munich EUR - 100.00 100.00 250 - 1) 2018 Autostadt GmbH, Wolfsburg EUR 100.00 - 100.00 50 - 1) 2018 B.
    [Show full text]
  • 2002 Ford Motor Company Annual Report
    2228.FordAnnualCovers 4/26/03 2:31 PM Page 1 Ford Motor Company Ford 2002 ANNUAL REPORT STARTING OUR SECOND CENTURY STARTING “I will build a motorcar for the great multitude.” Henry Ford 2002 Annual Report STARTING OUR SECOND CENTURY www.ford.com Ford Motor Company G One American Road G Dearborn, Michigan 48126 2228.FordAnnualCovers 4/26/03 2:31 PM Page 2 Information for Shareholders n the 20th century, no company had a greater impact on the lives of everyday people than Shareholder Services I Ford. Ford Motor Company put the world on wheels with such great products as the Model T, Ford Shareholder Services Group Telephone: and brought freedom and prosperity to millions with innovations that included the moving EquiServe Trust Company, N.A. Within the U.S. and Canada: (800) 279-1237 P.O. Box 43087 Outside the U.S. and Canada: (781) 575-2692 assembly line and the “$5 day.” In this, our centennial year, we honor our past, but embrace Providence, Rhode Island 02940-3087 E-mail: [email protected] EquiServe Trust Company N.A. offers the DirectSERVICE™ Investment and Stock Purchase Program. This shareholder- paid program provides a low-cost alternative to traditional retail brokerage methods of purchasing, holding and selling Ford Common Stock. Company Information The URL to our online Investor Center is www.shareholder.ford.com. Alternatively, individual investors may contact: Ford Motor Company Telephone: Shareholder Relations Within the U.S. and Canada: (800) 555-5259 One American Road Outside the U.S. and Canada: (313) 845-8540 Dearborn, Michigan 48126-2798 Facsimile: (313) 845-6073 E-mail: [email protected] Security analysts and institutional investors may contact: Ford Motor Company Telephone: (313) 323-8221 or (313) 390-4563 Investor Relations Facsimile: (313) 845-6073 One American Road Dearborn, Michigan 48126-2798 E-mail: [email protected] To view the Ford Motor Company Fund and the Ford Corporate Citizenship annual reports, go to www.ford.com.
    [Show full text]
  • Audi's Le Mans Return Is Shaping Up
    Audi MediaInfo Audi’s Le Mans return is shaping up • Concept stage for new Audi sports prototype largely completed • Close cooperation with fellow group brand Porsche • First race planned for January 2023 at the Daytona 24 Hours Neuburg a. d. Donau, April 29, 2021 – Audi will return to Le Mans and to sports prototype racing with an electrified sports car in the 2023 season. The successor to the successful Audi R18 is already taking shape. “The new LMDh category fits perfectly with our new set-up in motorsport,” says Julius Seebach, Managing Director Audi Sport GmbH and responsible for Motorsport at Audi. “The regulations allow us to field fascinating race cars in prestigious races worldwide. In addition, we are making use of synergies inside the Volkswagen Group with our partner strategy.” The successor to the Audi R18 is being built in close cooperation with the brands’s sister company Porsche. “A great strengh of the Volkswagen Group is the collaboration of the brands in the development of road cars,” says Seebach. “We are now transferring this proven model to motorsport. Nevertheless, the new sports prototype will be just as much a genuine Audi as the Audi RS e-tron GT that was launched recently and has also been developed on a platform shared with Porsche.” The sports prototype for the new LMDh category is currently being created at Audi Sport in parallel with the innovative SUV for the Dakar Rally. “Of course, the Dakar team is under greater time pressure, because there are only just under eight months left until our first participation in the Dakar Rally in January 2022,” says Andreas Roos, who is responsible for all factory motorsport commitments at Audi Sport.
    [Show full text]
  • World's Car Makers Race to Keep up As China Zooms
    December 13, 2002 12:03 a.m. EST PAGE ONE World's Car Makers Race ROARING DRAGON • China Industrial Output Rises As To Keep Up as China Zooms Export Production Booms3 12/10/02 • Big Western Stores in China Lure By KARBY LEGGETT and TODD ZAUN Price-Conscious Buyers4 Staff Reporters of THE WALL STREET JOURNAL 11/26/02 • China's Retail Store Sector Is SHANGHAI -- Foreign auto companies are scrambling to get into the Changing at Rapid Pace5 11/07/02 world's fastest-growing major market: China. • China's Hot Property Sector Shows Signs of Overheating6 After several years of strong growth, China is now the world's fourth- 11/05/02 largest auto market, behind the U.S., Japan and Germany. It could leap into second place in three years, even if growth continues at just half its current pace. Private citizens have overtaken the government as China's COMPANIES biggest buyers of automobiles this year. Banks have helped pave the way Dow Jones, Reuters by offering car loans for the first time, and thousands of miles of new Toyota Motor Corp. ADS (TM) roads have given drivers more places to go. PRICE 51.14 CHANGE -0.70 U.S. dollars 1:07 p.m. Auto executives, facing flat or falling sales in their home markets, Nissan Motor Co. Ltd. ADS predict China will be their biggest source of growth over the next (NSANY) decade. Newcomers Toyota Motor Corp., Nissan Motor Co. and PRICE 15.82 Hyundai Motor Co. plan to spend a combined $3 billion in China over CHANGE 0.05 U.S.
    [Show full text]