Volkswagen Group: 2019 was successful

Volkswagen Group: 2019 was successful

The Volkswagen Group successfully concluded the 2019 financial year with improved financial results for almost all brands. Herbert Diess, Chairman of the Board of Management of Volkswagen Aktiengesellschaft, says: "2019 was a very successful year for the Volkswagen Group. We have set the course for all relevant changes. 2020 is a very difficult year. The Corona pandemic presents us with unprecedented operational and financial challenges. There are also concerns about sustained economic influences. By pooling our strengths, close cooperation and good morale in the group, we will be able to overcome the Corona crisis."

In 2019, sales revenue for the Volkswagen Passenger Cars brand was 4.5 percent higher than in the previous year at EUR 88.4 billion. The operating result before special items increased to EUR 3.8 (3.2) billion. Impacts from lower sales of Volkswagen car models, start-up costs and exchange rates were offset in particular by improvements in the mix and price positioning. The operating return on sales before special items rose to 4.3 (3.8) percent. The diesel issue resulted in special items amounting to –1.9 (–1.9) billion euros.
In the 2019 financial year, the Audi brand's sales revenue fell to EUR 55.7 (59.2) billion; The reason was the intra-group relocation of the multi-brand sales companies. The operating result (previous year before special items) was EUR 4.5 (4.7) billion. Burdens from model launches and discontinuations, higher advance payments for new products and technologies, unfavorable exchange rate developments and increases in personnel costs were offset by improvements in the mix and product costs. The operating return on sales (previous year before special items) amounted to 8.1 (7.9) percent. The financial figures for the Audi brand also include the values ​​of the Lamborghini and Ducati brands.

The brand's sales revenue ŠKODA rose by 14.5 percent to 19.8 billion euros in 2019. The operating result improved by 0.3 billion euros to 1.7 billion euros. The operating return was 8.4 percent; in the previous year it was 8.0 percent.

In the year under review, SEAT continued its positive development: sales revenue amounted to 11.5 billion euros and exceeded the previous year's record value by 12.7 percent. The operating result rose to 445 (254) million euros. The Seat brand's operating return improved to 3.9 (2.5) percent.

The brand Bentley achieved sales revenues of EUR 2.1 billion in 2019, exceeding the previous year's figure by 35.1 percent. The operating result improved to EUR 65 (–288) million. The operating return rose to 3.1 (–18.6) percent.

The sales revenue of Porsche Automobiles increased by 10.1 percent to 26.1 (23.7) billion euros in the 2019 financial year. The operating result before special items improved by 2.4 percent to EUR 4.2 billion compared to the previous year. The operating return before special items was 16.2 (17.4) percent. The diesel issue resulted in special items amounting to EUR –0.5 billion in the reporting period.

In the 2019 financial year, sales revenue was Volkswagen Commercial vehicles at EUR 11.5 (11.9) billion, almost at the previous year's level. The operating result fell to EUR 510 (780) million. The operating return was 4.4 (6.6) percent.