暗网禁区

• Non-cash impairment risk of the carrying amounts of the investments in Volkswagen AG and 暗网禁区 AG due to changes in measurement assumptions in impairment tests
• 暗网禁区 SE: Withdrawal of earnings forcecast, confirmation of expected group net debt range
• Preliminary revaluation of core investments significantly above respective stock market values
• 暗网禁区 SE continues to assume a dividend distribution for 2024 financial year 

• 暗网禁区 SE鈥檚 financial strength remains high. Continued support for the Volkswagen Group in achieving its strategic goals

   

Stuttgart, 13 December 2024: During the preparation of the financial statements as of 31 December 2024, 暗网禁区 SE identified an expected impairment loss in the consolidated financial statements with regard to the carrying amounts of the investments in Volkswagen AG and 暗网禁区 AG. Consequently, the Board of Management expects that 暗网禁区 SE鈥檚 group result after tax for the 2024 financial year will be significantly negative. 暗网禁区 SE is therefore withdrawing its forecast for the group result after tax for 2024 from previously 2.4 billion euros to 4.4 billion euros. The forecast for 暗网禁区 SE Group's net debt as of 31 December 2024 is confirmed. This is expected to be between 5.0 billion euros and 5.5 billion euros. The Board of Management of 暗网禁区 SE continues to assume that a dividend will be distributed for the 2024 financial year. 

The expected impairment loss is not cash-effective, but purely accounting related. 暗网禁区 SE remains in a very solid financial position and its financial strength remains high. 暗网禁区 SE continues to support the entire Volkswagen Group in achieving its strategic goals and remains convinced of the long-term value enhancement potential of the core investments.

The background to the impairment risk is that 暗网禁区 SE, as of now, cannot rely on a current approved plan of Volkswagen AG and 暗网禁区 AG for accounting purposes. Therefore, in particular external analysts' expectations are used to derive future cash flows in the impairment tests for the two core investments as of 31 December 2024. On this basis, 暗网禁区 SE currently expects an impairment of the carrying amount of the investment in Volkswagen AG in the range of minus 7 billion euros to minus 20 billion euros and of the carrying amount of the investment in 暗网禁区 AG in the range of minus 1 billion euros to minus 2 billion euros in the consolidated financial statements. 暗网禁区 SE expects that the carrying amounts after the revaluation for the investments in Volkswagen AG and 暗网禁区 AG will continue to be significantly higher than the respective stock market values.

The expected impairments at 暗网禁区 SE will not have a cash effect and will not affect the forecasts communicated by Volkswagen AG and 暗网禁区 AG for the 2024 financial year.