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5-Year Planning Round: We are on track!
Live INVESTOR and ANALYST Audio Webcast and Conference CallNovember 16th, 2020
The following presentations contain 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, 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. These assumptions relate in particular to the development of the economic, political, and legal environment in individual countries and economic regions and the development of the automotive industry. Therefore the estimates given involve a degree of risk, and the actual developments may differ from those forecast. The Volkswagen Group currently faces additional risks and uncertainty related to pending claims and investigations in a number of jurisdictions in connection with findings of irregularities relating to exhaust emissions from diesel engines in certain Volkswagen Group vehicles. The degree to which the Volkswagen Group may be negatively affected by these ongoing claims and investigations remains uncertain.The outbreak of COVID-19 (commonly referred to as coronavirus) has negatively impacted economic and social conditions in primary markets of Volkswagen, including China and Europe, as public, private, and government entities have implemented containment measures. The continued spread of COVID-19 has caused shortages of necessary materials and parts from suppliers directly or indirectly affected by the outbreak and has caused operational disruptions and interruptions at Volkswagen's production facilities, which led to production downtimes. The COVID-19 pandemic and the respective containment measures might continue to have a negative impact in the future.A negative development relating to ongoing claims or investigations, the continuation of COVID-19, an 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, and trade disputes among major trading partners 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 in particular relative to the US dollar, sterling, yen, Brazilian real, Chinese renminbi 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 superseded. This information does not constitute an offer to exchange or sell or an offer to exchange or buy any securities.
Disclaimer
2
Dr. Herbert Diess
Chairman of the Board of ManagementVolkswagen AG
5-Year Planning Round: Fully on Track
3
Dr. Christian Dahlheim
Director Group SalesVolkswagen AG
Frank Witter
Chief Financial OfficerVolkswagen AG
Helen Beckermann
Head of Group Investor RelationsVolkswagen AG
Tightened emission regulations require speed up and execution of our transformation
4
Dev
elop
men
tal p
rogr
ess o
f im
port
ant s
yste
m a
spec
ts
Future
Invest
Need for action Planning Round
Base load
(ICE technology)
Emission legislation
Motor Sport
ICE
Past
Transformation
Model complexity
BEV
Car.Software-Organisation/Autonomous driving and parking
China
Product portfolio
Fully on track towards electrification by entering the next phase of global ramp-up
EU CHNNAR
• Scaling up MEB und PPE – Base for volume ramp up
• Internationalization of BEVs starting with compact SUVs
• Development and tooling up of electrified platforms MEB and PPE
• Closed cycled start of productions
• Coverage of core markets and segments• Fully prepared for Green Deal • Connected car fleet
VOLUME
PREMIUM
3
Volume ramp-up andinternationalization
2
1 Start of Transformationelectro mobility
Capital Marktes Day 2019
5
The recovery path after the COVID-19 pandemic varies across markets depending on their economic situationPassenger Car Total Markets by Region – External Outlook
1) South America includes Brazil, Argentina, Chile and Venezuela.Source: IHS Markit Automotive, MarketInsight New Registration data, 11/2020
North America (incl. LCV) Western Europe Central and Eastern Europe
South America 1) (incl. LCV) World China
20.2
16.617.8
18.819.7
14
16
18
20
22
2019 2020 2021 2022 2025
14.410.9 12.3 13.0 13.3
0
5
10
15
20
2019 2020 2021 2022 2025
3.32.8
3.1 3.33.7
1
2
3
4
5
2019 2020 2021 2022 2025
77.2
64.971.1
75.282.3
50
60
70
80
90
2019 2020 2021 2022 2025
3.5
2.53.0 3.2
3.9
1
2
3
4
5
2019 2020 2021 2022 2025
21.019.3
20.9 22.0
25.4
16
20
24
28
32
2019 2020 2021 2022 2025
Growth YoY -1.5% -18.1% +7.1% +5.8% +4.7%
Vol. in mn Vol. in mn Vol. in mn
Vol. in mn Vol. in mn Vol. in mn
Growth YoY -5.9% -28.9% +20.3% +9.1% +20.5%
Growth YoY +0.6% -24.1% +12.2% +6.1% +1.8% Growth
YoY +2.3% -16.1% +12.7% +5.6% +12.9%
Growth YoY -3.3% -8.2% +8.5% +5.4% +15.1%Growth
YoY -2.9% -15.9% +9.6% +5.7% +9.5%
6
Volkswagen Group – BEV volume by regions 2019 - 2030 | (BEV share of total Group deliveries in %)Significant increase in BEV deliveries will support our CO2 compliance
20242019 2020 20222021 20252023 2030
Europe China NAR RoW
≈ 1%
≈ 20%(up to 3 mn units)
≈ 6-8%≈ 3-4%
>30% 2)
BEV
1) Target 2) Green Deal need to be reflected.
ID. BUZZ
next generation Macan
Q4 e-tron
ID. CROZZel-Born
Enyaq iV Q5 e-tron
7
1) 1)1) 1) 1) 1) 1)
Back to normalization in 2022/23 with upside potential
1) Excluding Diesel payments and M&A.Please note, Navistar not yet included. The transaction is targeted to close in mid 2021, and is subject to Navistar shareholder approval, customary closing conditions as well as regulatory approvals.
Key financial targets 2017Actual
2018Actual
2019Actual
2020Outlook
2022Interim
StrategicTargets
2025StrategicTargets
Operating return on salesBefore Special Items
7.4% 7.3% 7.6% positive 6.0-7.0% 7-8%
Return on investment Automotive Division before Special Items
14.4% 13.1% 11.2% positive 10-12% >14%
Capex ratioAutomotive Division
6.4% 6.6% 6.6% at previous year's level 6.0-6.5% 6%
R&D cost ratio Automotive Divison
6.7% 6.8% 6.7% will exceed2019 6.5-7.0% 6%
CashAutomotive Division
a) Net Cashflow1) € 10.3 bn € 5.6 bn €13.5 bn positive > € 10 bn > € 10 bn
b) Net Liquidity € 22.4bn € 19.4 bn € 21.3 bn at previous year's level > € 20 bn ~10% of Group
turnover
8
Proportion of “Future Technologies” rising within total investments
9
~ 12(9%)
~ € 73 bn(~50%)
Electrification
~ 8(5%)~ 4
(3%)
Digital technology
~ 32(21%)
PR 68PR 67
~ 14(10%)
~ 33(23%)
~ 27(18%)
~ 11(7%)
~ 35(24%)
PR 69
Hybrid powertrains
~ € 44 bn(~30%)
~ € 60 bn(~40%)
in relation to customer demand Ramp-up e-mobility and staged phase-out of ICEs while remaining flexible with product offer
10
2020 New BEV models
Phase-out of ICE models
2025 New BEV models
Phase-out of ICE models
2030
ICE BEV
BEV modelsx3
ICE models-35%
Brand specific programs and competence building – gathering momentum
11
Restructuring & efficiency programmes Building-up of IT know-how..at the same time…
Strategy Together 2025+
12
StrategyRemains unchanged!
Consistent delivery, despite Covid!
Focus on execution & speed up!
KPI’s
Fully on track for Strategic Targets in 2025!