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VolvoCars

Invitation to Volvo Cars’ presentation of the fourth quarter and year-end report 2023

Volvo Cars will publish its fourth-quarter and full-year 2023 monetary outcomes on Thursday, 1 February 2024 at 06:00 UK time (07:00 CET). 

At 07:00 UK time (08:00 CET), President and CEO Jim Rowan, CFO Johan Ekdahl and Deputy CEO and Chief Commercial Officer Björn Annwall will host a livestream for media, buyers and analysts. The displays will likely be held in English and adopted by a Q&A session.

We look ahead to your participation. See under detailed info: 

07:00 UK time (08:00 CET)          Presentation for media, buyers and analysts 
 
Link: https://live.volvocars.com 
If you tune in from China, please use this hyperlink: https://live.volvocars.com.cn

It will likely be potential to ask questions throughout the Q&A session following the primary presentation. To take part, you’ll be able to both use the chat perform on-line to sort your query or you’ll be able to name in. To name in, members have to register and can then obtain the dial-in particulars and particular person PIN.

Link to register

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Volvo Cars in 2022 
For the complete 12 months 2022, Volvo Car Group recorded an working revenue of SEK 22.3 billion. Revenue in 2022 amounted to SEK 330.1 billion, whereas world gross sales reached 615,121 automobiles.  

About Volvo Car Group 
Volvo Cars was based in 1927. Today, it is without doubt one of the most well-known and revered automotive manufacturers on the earth with gross sales to clients in additional than 100 international locations. Volvo Cars is listed on the Nasdaq Stockholm alternate, the place it’s traded underneath the ticker “VOLCAR B”. 

“For life. To give people the freedom to move in a personal, sustainable and safe way.” This goal is mirrored in Volvo Cars’ ambition to grow to be a totally electrical automotive maker by 2030 and in its dedication to an ongoing discount of its carbon footprint, with the ambition to be a climate-neutral firm by 2040. 

As of December 2022, Volvo Cars employed roughly 43,200 full-time workers. Volvo Cars’ head workplace, product improvement, advertising and administration capabilities are primarily positioned in Gothenburg, Sweden. Volvo Cars’ manufacturing crops are positioned in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The firm additionally has R&D and design centres in Gothenburg, Camarillo (US) and Shanghai (China). 

VolvoCars

Volvo Cars stories new international gross sales document in 2023

Volvo Cars units a brand new international gross sales document as the corporate stories full-year gross sales of 708,716 vehicles throughout 2023, a rise of 15 per cent in contrast with the total 12 months of 2022. 

The all-time-high gross sales document is an illustration of Volvo Cars’ robust electrified product portfolio together with a extra stabilised provide chain.

Volvo Cars additionally noticed a big improve in gross sales for its electrified vehicles. Last 12 months, Volvo Cars bought 113,419 absolutely electrical vehicles, a rise of 70 per cent in contrast with 2022, and 152,561 plug-in hybrid vehicles, which was a ten per cent improve in contrast with 2022. Sales of absolutely electrical vehicles accounted for 16 per cent of all Volvo vehicles bought globally throughout 2023. 

For the month of December, Volvo Cars bought 76,015 vehicles globally, a rise of 5 per cent in contrast with the identical interval in 2022. 

European gross sales reached 294,794 vehicles throughout 2023, a rise of 19 per cent in contrast with 2022. Volvo Cars’ line-up of Recharge vehicles, with a completely electrical or plug-in hybrid powertrain, accounted for 59 per cent of all of the vehicles bought within the area final 12 months.

Volvo Cars’ US gross sales for 2023 amounted to 128,701 vehicles, up 26 per cent in contrast with the total 12 months of 2022. The variety of Recharge vehicles bought elevated by 28 per cent and accounted for 28 per cent of all vehicles bought within the US in the course of the 12 months.

Sales in China grew 5 per cent in contrast with 2022, leading to 170,091 vehicles bought throughout 2023. Overall, gross sales of Recharge vehicles grew 26 per cent in the course of the January-to-December interval. 

For 2023, the Volvo XC60 was the top-selling mannequin with gross sales reaching 228,646 vehicles (2022: 195,338 vehicles), adopted by the XC40 with whole gross sales of 200,670 vehicles (2022: 169,206 vehicles), and the XC90 at 107,549 vehicles (2022: 97,130 vehicles).

             
 

December

December

Jan-Dec

Jan-Dec

  
 

2023

2022

Change

2023

2022

Change
             

Europe

34,726

33,407

4%

294,794

247,413

19%

Recharge

18,933

22,661

-17%

172,575

135,714

27%

 – Fully electrical

8,920

10,579

-16%

75,476

45,690

65%

 – Plug-in hybrid

10,013

12,082

-17%

97,099

90,024

8%
             

China

15,944

16,950

-6%

170,091

162,322

5%

Recharge

1,715

1,933

-11%

15,356

12,215

26%

 – Fully electrical

249

777

-68%

3,281

2,999

9%

 – Plug-in hybrid

1,466

1,156

27%

12,075

9,216

31%
             

US

13,609

11,111

23%

128,701

102,038

26%

Recharge

3,232

3,202

1%

35,657

27,909

28%

 – Fully electrical

686

1,132

-39%

13,609

7,308

86%

 – Plug-in hybrid

2,546

2,070

23%

22,048

20,601

7%
             

Other

11,736

11,195

5%

115,130

103,348

11%

Recharge

4,581

4,030

14%

42,392

29,514

44%

 – Fully electrical

2,415

2,100

15%

21,053

10,752

96%

 – Plug-in hybrid

2,166

1,930

12%

21,339

18,762

14%
             

Total

76,015

72,663

5%

708,716

615,121

15%

Recharge

28,461

31,826

-11%

265,980

205,352

30%

 – Fully electrical

12,270

14,588

-16%

113,419

66,749

70%

 – Plug-in hybrid

16,191

17,238

-6%

152,561

138,603

10%

 

BMW

BMW Group improves full-year guidance for 2023

Munich. The BMW Group has revised its full-year outlook for 2023, anticipating a positive business performance in the second half of the year. This is based on the ongoing strength of the order bank and an expected increase in the availability of premium vehicles.

Here are the revised financial indicators provided by the BMW Group:

  • Expected solid growth in automotive segment deliveries to customers compared to the previous year (previously: slight growth).
  • The anticipated EBIT margin for the full year 2023 in the automotive segment is within the range of 9% to 10.5% (previously: 8% to 10%).
  • The Return on Capital Employed (RoCE) in the automotive segment is projected to be between 18% and 22% (previously: 15% to 20%).
  • The Return on Equity (RoE) in the financial services segment is expected to be between 16% and 19% (previously: 14% to 17%).

In addition, the BMW Group now expects the free cash flow in the automotive segment to exceed €6 billion for the full year 2023. This takes into account higher investments in the transition to electromobility and increased inventories to ensure a sufficient supply of vehicles in the markets.

Furthermore, the company foresees higher expenses for suppliers due to inflation, and the supply chain is expected to remain challenging in the second half of the year.

The new outlook is based on the preliminary financial results for the first half of 2023 and the second quarter of 2023:

  • During the first half of the year, the BMW Group achieved a Group EBT margin of 12.6%, and 11.3% in Q2 2023.
  • The automotive segment delivered sales of 1.2 million units in the first half of the year, representing a growth of 4.7% compared to the same period in 2022.
  • In the first half of the year, the automotive segment achieved an EBIT margin of 10.6%, with 9.2% in Q2 2023. This was driven by improved sales volume, a favorable product mix, and positive pricing, despite adverse effects from foreign currency, higher material costs, and warranty expenses.
  • The financial services segment generated earnings before tax of €1,704 million in the first six months of 2023, with €759 million in Q2 2023.
  • The solid profitability resulted in a free cash flow of €3.1 billion in the automotive segment during the first half of the year, with a contribution of €1.2 billion in Q2. The increase in inventory for building the product supply pipeline and higher material and raw material costs posed some challenges.

The full quarterly results and the outlook statement will be published in the 2023 half-year report on August 3, 2023. For the definitions of the financial indicators mentioned above, please refer to pages 335 to 340 of the BMW Group Report 2022.

An ad hoc announcement has also been published as required by law.

If you have any questions, please contact:

BMW Group Corporate Communications

Dr. Britta Ullrich, Communications Finance

Telephone: +49 89 382-18364

E-mail: britta.ullrich@bmwgroup.com

Eckhard Wannieck, Head of Communications Corporate, Finance, Sales

Telephone: +49 89 382-24544

Email: eckhard.wannieck@bmwgroup.com

Media website: www.press.bmwgroup.com/global

Email: presse@bmwgroup.com