After record loss VW shortened bonus payments of directors – t-online.de

Volkswagen cuts because of the exhaust scandal the executive compensation by 30 percent. That said Lower Saxony Prime Minister Stephen Weil, after a supervisory board meeting in Wolfsburg. Previously, the car company had announced a record loss.

The bonuses are for the Manager but not yet finally lost. To be converted and parked in shares, the VW board and Lower Saxony Prime Minister Stephen Weil (SPD). After three years would be considered as the share price has developed. If it is by a quarter over the recent level, the money will be paid out. Is he on about, there is even according to head back more money. If the course but is below the threshold of 125 percent, would get the affected boards percentage correspondingly less. In addition, at the upper end of the flagpole reach a ceiling at 200 percent.

Biggest Loss de History

VW drove last year with 4.1 billion euros the largest operating loss in company history a. The bottom line is a loss of 1.4 billion euros fell to, according to the German HGB accounting standard even EUR 5.5 billion. 2014 VW had earned eleven billion euros

dividend is greatly reduced

Because of the gas scandal, the Group EUR 16.9 billion back -. Ten billion more than previously. The dividend breaks considerably. The Group intends to pay out only 0.17 euros for each of its non-voting preference shares.

A year ago, a record high of 4.86 euros still had flowed. Thus, the decrease was more than 96 percent

For the voting VW ordinary shares are accordingly EUR 0.11 flow. (Previously: EUR 4.80). Preferred shareholders receive more dividend – usually 6 cents – because they have no voting rights

Our main themes

Niedersachsen gets almost 280 million less

For lower Saxony, ie, for example, that this time accounts for only 6.5 million euros to the second largest shareholder in Volkswagen. A year ago, the country had already collected around EUR 285 million dividend. The imminent end of June General Meeting must approve the current dividend proposal yet. This is considered safe because the Porsche and Piëch families keep up with the Porsche SE as major shareholders, the majority of 51 percent.

The Porsche SE comes off a little better. Although the company is concerned in accordance with its equity investment from loss. Before taxes fall a net loss of 456 million euros, said the Holding. The net profit was expected to be but 871 million euros thanks to the earned during the fiscal 2015 VW-dividend, 2014. Porsche SE proposes its Annual General Meeting a dividend of 20.4 cents per ordinary share and 21 cents per preference share.

Despite the crisis more sales

The sales of VW rose last year to 5.4 percent to 213 billion euros. Management presented the current year to CEO Matthias Müller a sales decline of up to five percent and an operating margin of between five and six percent in view. Thus one dares after record loss in the black again at.

The VW shares initially fell by 6.1 percent. They later recovered and even increased in the meantime to increase.

first loss since the 90s

The exhaust scandal had many years of successful series of Wolfsburg ended abruptly. Recently, there had been a net loss in 1993, when VW also was in crisis: 1.9 billion German marks, ie the equivalent of around one billion euros. Further losses in the 1980s and 1970s were far less.

Manipulated emissions levels at around eleven million cars

Volkswagen had tampered with an illegal software exhaust test on diesel vehicles. It was about values ​​of harmful nitrogen oxide. Worldwide affected eleven million vehicles. VW may not only require the high provisions in the balance sheet nor immense risks for fines and lawsuits from customers and authorities in the billions.

Just yesterday, the group had agreed with the US authorities on principles of a multi-billion dollar compensation plan. This looks in the USA the repurchase of up to half a million diesel vehicles with manipulated emission levels and a significant compensation of car owners before.

VW before hard times

Given the massive red figures threaten at Volkswagen in the coming weeks and months violent clashes between the management and the powerful employee representatives. In the low-yield nuclear VW brand with models such as the Golf and the Passat brand chief Herbert Diess wants to tighten the austerity plan. but at the initiative of the works it will now enter negotiations on solid product, piece count and investment commitments for the coming years.