“Robust” is called the VW Group management business development 2015: Revenue increased by five percent to 213 billion euros and the operating profit was EUR 12.8 billion slightly above the previous year. So everything was great – if not for the “gas issue” would. So Volkswagen calls the manipulation of millions of diesel vehicles with emission levels were depressed supposedly down. EUR 16.2 billion estimated for the management now “pending technical and customer-related activities and the global legal risks”. That hurts, brings the Group but not really in distress. “The operational business of the Volkswagen Group is very healthy,” CEO Matthias Mueller said on Friday following a Supervisory Board meeting in Wolfsburg.
The bonuses fall by half
The Panel had various topics on the agenda. In addition to the annual accounts and the investigation of the US law firm Jones Day (see below), it was also about the last so highly controversial bonuses for the nine board members who per capita amounted to over five million euros last year. The payment amount is now at 2.2 million euros, 57 percent below last year. This waiver is apparently many had a hard, and required complicated additions: 30 percent of the variable remuneration be deferred for three years. “This amount will be converted into virtual preference shares and only paid in full when the initial reference price of the preference share has risen at the end of the three-year vesting period of at least 25 percent,” VW announced on.
Instead 4.86 Euro, there are 17 cent dividend
CEO Müller explained the voluntary renunciation of his colleagues and of itself with the great efforts that take the board to “consolidate the trust of customers, to motivate the workforce and employment secure at all locations “. The supervisory board chairman Hans Dieter Pötsch renounced some of his variable compensation for 2015 amounting to 2.3 million euros.
Not only the management, the owners respectively shareholders have to pay for the gas fraud. After there had been a record dividend of 4.86 euros per preferred share and 4.80 euros per ordinary share in the previous year, it should now be only 17 or eleven cents per share. Next week are bargaining on. Then it will become clear what the employees must contribute to tackling fraud
In the VW-checkout are 24.5 billion euros
The crisis “charged Volkswagen very strong, “Müller conceded, but also pointed to the cash position. “Net liquidity in the Automotive Division rose to 24.5 (17.6) billion euros. For the current fiscal year, the management are more skeptical. Although China is expected as by far the largest market of VW increase further, as a whole is expected in sales in the Group with stagnation. The sales will be reduced by as much as five percent in passenger cars. Next extremely difficult is the situation in South America and Russia. And of course the exhaust subject
is still a long way, but “is to also characterize the current year for the Volkswagen Group,” as CFO Frank Witter said. Now we have to save
the investor does not scare the. Once the VW share won by more than ten percent of its value in the past few days, we went on Friday after the announcement of the loss, although only properly downhill. At the end of the paper little more than one percent was then in the red. NordLB maintained its “Hold” recommendation, although in the opinion of Bank analyst Frank Schwope the crisis still far from over. Despite Now that the 2015 provisions of EUR 16.2 billion it proceeds from total costs as a result of manipulation in the amount of 20 to 30 billion euros. “And rather than being exceeded falls below this range,” Schwope said. According loud the motto for Wolfsburg in the coming years: “Save, save, save.”
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