(News Bulletin 247) – Volkswagen announced on Friday that it expects 2023 to perform well above market expectations, which caused its share price to jump by more than 9% on the Frankfurt Stock Exchange.
The German automaker said it expects vehicle deliveries of around 9.5 million units this year, up from 8.3 million last year.
Its turnover should increase between 10% and 15%, for an operating margin expected in an interval ranging from 7.5% to 8.5%, while the consensus of analysts had been established at 7, 1%.
The announcement caused the manufacturer’s share price to jump 9.7%, which was by far the best performance of the DAX index and the Euro STOXX 50 in the euro zone.
‘The title had not performed very well recently and these figures are obviously likely to reassure investors’, reacts a trader based in London.
‘A large part of the market’s concerns were precisely related to the outlook for margins for 2023’, he recalls.
As for the 2022 financial year, VW has released results in line with the preliminary figures it presented a little less than a month ago.
Its annual turnover increased by 12% to 279.2 billion euros, the price increases applied to its vehicles having more than compensated for the decline in its volumes.
Its operating profit before exceptional items increased to 22.5 billion euros, against 20 billion in 2021, giving an operating margin of 8.1%, compared with 8% the year before.
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