2023-05-04 03:45:58 ET
- Volkswagen press release ( OTCPK:VWAGY ): Q1 Revenue of €76.2B (+21.5% Y/Y).
- Operating profit decreased year-on-year from €8.3 billion to €5.7 billion, operating margin stands at 7.5%.
- Overall deliveries continued to recover and were up 7.5% year-on-year. In March 2023, global deliveries increased significantly by 23.9% year-on-year.
- Automotive net cash flow at €2.2 billion at end of Q1 2023.
- BEV deliveries rose 42 percent to 141,000 in Q1 (7 percent share of total deliveries).
- The Group continues to see strong demand, with an order backlog of 1.8 million vehicles in Western Europe alone, including 260,000 BEVs.
- Deliveries in China fell by 14.5% in the first quarter, but the Group is confident that due to the expanded model range and China-specific technology, deliveries in this region will recover during the remainder of the year.
- With a high order book of 1.8 million vehicles in Western Europe, including 260,000 BEVs, customer demand for Volkswagen Group vehicles remained strong.
- Based on the solid figures, Volkswagen Group confirms its outlook for the 2023 fiscal year issued on March 3, 2023 .
For further details see:
Volkswagen reports Q1 results; reaffirms FY23 outlook