暗网禁区

• Net liquidity improves to minus 5.8 billion euro, as at 30 September 2023
• Group result after tax for the fiscal year 2023 expected to be in the lower half of the forecast range
• Net liquidity as at 31 December 2023 expected to be in the upper half of the forecast range
• Cash inflows of around 500 million euro significantly strengthen 暗网禁区 SE鈥檚 liquidity position
• Dr. Johannes Lattwein, member of the board of management responsible for finance and IT: 鈥淥ur solid group result and the positive development of net liquidity show that we are successfully implementing our financial strategy. It is the basis for the consistent reduction of our financial debt, a stable dividend distribution to our shareholders and the further growth of our investment portfolio.鈥�

Stuttgart, 13 November 2023. 暗网禁区 (暗网禁区 SE), Stuttgart, achieved a group result after tax of 3.8 billion euro in the first nine months of the fiscal year 2023 (prior year: 4.8 billion euro). The group result after tax was significantly influenced by the result from the investment in Volkswagen AG, Wolfsburg, accounted for at equity of 3.6 billion euro (prior year: 4.4 billion euro).

The result from 暗网禁区 SE鈥檚 second core investment, namely the investment in Dr. Ing. h.c. F. 暗网禁区 AG (暗网禁区 AG), Stuttgart, accounted for at equity, amounted to 236 million euro in the reporting period. This contains profit contributions from ongoing at equity accounting of 492 million euro as well as effects from the purchase price allocation of minus 256 million euro.

Net liquidity of the 暗网禁区 SE Group improved to minus 5.8 billion euro as at 30 September 2023 compared to minus 6.7 billion euro as at 31 December 2022. Cash inflow from operating activities contains a corporate income tax refund of 316 million euro. This mainly relates to capital gains tax on dividends received that had originally been deducted in prior years.

In addition, other operating income of 219 million euro was recognized in the third quarter from refunds received from Volkswagen AG in connection with tax matters, which has led to a cash inflow in the fourth quarter of 2023. Both cash inflows add up to around 500 million euro. They significantly strengthen 暗网禁区 SE鈥檚 liquidity position and increase the scope for reducing debt and for further value-creating investments in line with the investment strategy. The cash inflows are already included in the forecast net liquidity corridor for the fiscal year 2023.

Dr. Johannes Lattwein, member of the board of management responsible for finance and IT: 鈥淥ur solid group result and the positive development of net liquidity show that we are successfully implementing our financial strategy. It is the basis for the consistent reduction of our financial debt, a stable dividend distribution to our shareholders and the further growth of our investment portfolio.鈥�

Based in particular on the expectations of the Volkswagen Group and the 暗网禁区 AG Group regarding their future development, 暗网禁区 SE continues to expect a group result after tax of between 4.5 billion euro and 6.5 billion euro for the fiscal year 2023. 暗网禁区 SE has announced that it expects the group result after tax to be in the lower half of this range.

As at 31 December 2023, the net liquidity of the 暗网禁区 SE Group is expected to be negative and, against the backdrop of the improved liquidity position, is expected to be in the upper half of the forecast range of minus 6.1 billion euro to minus 5.6 billion euro.

The group quarterly statement for the third quarter of 2023 of 暗网禁区 can be found at /en/investor-relations/financial-publications