Volkswagen:Quarterly Results/2022 Q3

See also: Volkswagen | Quarterly Results

Next quarterly result: 2022 Q4

Results

Publishing Date: 2022 October 28

Exchange rate: 1EUR = 1 USD

Outlook

Shareholder Report:

Wide range of revenue growth from 8-13%. Operating margin between 7% and 8.5%.

"Overall, the global volume of new vehicle sales is expected to be on a par with the previous year without reaching the pre-pandemic level."

Earnings Call

• Multiple Iterations that they are confident to hit the uper range of their revenue and margin guidance.

Earning Call Quotes

• "Operating margin in first 9 months of 2022 stood at 8.6%." -> Therefore it must have significantly weakened in Q4 2022 to reach 8.06% for the full year.

• Guidance: "Revenues are expected to reach the upper end of the range between 8% and 13% due to the continued positive mix effect on pricing. We remain confident to end up at the upper end of our margin guidance between 7% and 8.5%."
• "We don't expect major changes on the currency side and derivatives."
• "Now the stimulus program kicked in and we remain overall confident for China, both in terms of total market and recovering of market share, and also in terms of our proportional operative result, which is rather important for us also in terms of proceeds we get via dividends."