Result in Q3 The Volkswagen group, which are the German automotive giants, shared its results in the third quarter of 2022. Operating result before special items Q1-Q3 in 2022 was […]
The Volkswagen group, which are the German automotive giants, shared its results in the third quarter of 2022. Operating result before special items Q1-Q3 in 2022 was 17.5bn EUR. Also, it realized an operating margin of 8.6%. The Volkswagen Group confirms that margin guidance in this fiscal year would be 7-8.5% at the upper end of the range.
Overall Q3 revenues up year-on-year from 56.9bn to 70.7bn EUR. It means that the Group could increase its revenue by about a quarter, even though they were facing a supply chain problem. Also, operating result in Q3 of 2022 was up year-on-year to 4.3bn EUR. Q3 margin became 6% and this number was burdened by non-recurring items of EUR 1.6bn.
When it comes to regional and product portfolio, the Group recovered in China. In fact, the Group increased its deliveries by 27% in Q3 of 2022. The company increased the sales of BEV and 22% more deliveries in Q3. Also, it was accelerating the sales of BEV and its share became 6.8%. Finally, the German automotive giant started production of the ID.4 in the US. One more important news is that successful IPO of Porsche. As a result, the German luxury automotive manufacturer proceeds being used to accelerate the transformation and return to shareholders via special dividend.
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