Key Developments: Volkswagen AG (VOWG_p.DE)

VOWG_p.DE on Xetra

165.50EUR
15 Aug 2014
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Latest Key Developments (Source: Significant Developments)

Australia Investigating Volkswagen AG's Safety After Driver's Death-Reuters
Friday, 31 May 2013 03:19am EDT 

Reuters reported that The Australian government is investigating reports of power loss problems in cars manufactured by Volkswagen AG, amid an inquiry into the death of a woman killed when her Volkswagen Golf was hit by a truck in 2011. The probe comes just weeks after the German carmaker recalled about 91,000 vehicles in Japan because of potential gearbox problems that could cause cars to speed up or slow down during driving. Safety concerns about Volkswagen vehicles have drawn fresh attention in Australia as the Victoria state coroner conducts an inquiry this week into the death of Melissa Ryan. The coroner's decision is due in July. Australia's Department of Infrastructure and Transport said on Friday that it was aware of Ryan's case and might provide assistance to agencies including coroners.  Full Article

Germany Wins Victory Over EU Commission In Volkswagen AG Law Case-Reuters
Wednesday, 29 May 2013 09:56am EDT 

Reuters reported that Germany looked set to win victory over the European Commission to preserve state influence at carmaker Volkswagen on May 29, 2013, after an adviser to the EU's highest court rejected the European Commission's bid to overturn the so-called VW Law. While the final ruling is not expected until later this year, the preliminary advisory decision is a painful setback for the Commission. For years it has been locked in a battle with Germany over the 1960 law that gives the state of Lower Saxony a veto over fundamental decisions at VW such as mergers and acquisitions, even though it only has a 20% voting stake.  Full Article

Volkswagen AG Confirms FY 2013 Forecast
Wednesday, 24 Apr 2013 05:32am EDT 

Volkswagen AG announced that it still expect fiscal year 2013 sales revenue to exceed the prior fiscal year 2012 figure. Given the ongoing uncertainty in the economic environment, the Company’s goal for operating profit is to match the fiscal year 2012 level in the fiscal year 2013. For the fiscal year 2012 the Company reported revenue of EUR 192,676.00 million and operating profit of EUR 11,510.00 million. According to I/B/E/S Estimates, analysts on average are expecting the Company to report fiscal year 2013 revenue of EUR 202,608.13 million and fiscal year 2013 operating profit of EUR 13,015.00 million.  Full Article

Volkswagen AG Confirms FY 2013 Forecast
Wednesday, 24 Apr 2013 05:32am EDT 

Volkswagen AG announced that it still expects fiscal year 2013 sales revenue to exceed the prior fiscal year 2012 figure. Given the ongoing uncertainty in the economic environment, the Company’s goal for operating profit is to match the fiscal year 2012 level in the fiscal year 2013. For the fiscal year 2012 the Company reported revenue of EUR 192,676.00 million and operating profit of EUR 11,510.00 million. According to I/B/E/S Estimates, analysts on average are expecting the Company to report fiscal year 2013 revenue of EUR 202,608.13 million and fiscal year 2013 operating profit of EUR 13,015.00 million.  Full Article

Volkswagen AG To Recall Cars-Reuters
Monday, 18 Mar 2013 01:02am EDT 

Reuters reported that Volkswagen AG (VW) will recall vehicles in China to fix a gearbox problem after coming under criticism from state-run China Central Television's (CCTV) annual corporate malpractice expose. VW's direct shift gearbox transmission, a long-standing issue for the German automaker, was causing cars to speed up or slow down during driving. After the show Volkswagen promised action, and a spokesman said the firm will recall both locally made and imported cars. Details of the volume and models involved will be released either later on Monday or Tuesday, the spokesman said.  Full Article

Volkswagen AG Issues FY 2013 Revenue Outlook In Line with Analysts' Estimates; Issues FY 2013 Operating Profit Guidance Below Analysts' Estimates; Proposes FY 2012 Dividend
Friday, 22 Feb 2013 08:58am EST 

Volkswagen AG announced that its Board of Management and Supervisory Board propose an increase in the dividend to EUR 3.50 per ordinary share and EUR 3.56 per preferred share for the fiscal year 2012. Moreover, the Company announced that it expect fiscal year 2013 sales revenue to exceed the prior fiscal year 2012 figure. Given the ongoing uncertainty in the economic environment, the Company’s goal for operating profit is to match the fiscal year 2012 level in the fiscal year 2013. For the fiscal year 2012 the Company reported revenue of EUR 192,676.00 million and operating profit of EUR 11,510.00 million. According to I/B/E/S Estimates, analysts on average are expecting the Company to report fiscal year 2013 revenue of EUR 202,608.13 million and fiscal year 2013 operating profit of EUR 13,015.00 million.  Full Article

Volkswagen AG Seeks Full Control Over MAN SE-Reuters
Wednesday, 9 Jan 2013 01:37pm EST 

Reuters reported that Volkswagen AG said it wished to take full control over the Munich-based truck maker, MAN SE Volkswagen said would now seek a domination and profit and loss transfer agreement, a move to give it full strategic and financial control over MAN, in which it has a 75.03% stake. Based on the closing price on Xetra DAX the remaining shares would cost Volkswagen at least EUR2.96 billion ($3.86 billion). The EUR90 share price in Frankfurt reflects a EUR3.17 billion price tag. A domination and profit transfer agreement requires 75% of shares and gives the acquirer access to the liquidity of the Company it bought. A Volkswagen spokeswoman said that the next step would be an offer to MAN shareholders. NordLB analyst Frank Schwope said he expected Volkswagen to aim for between 95-99% of MAN shares. 35.2 million MAN shares are not owned by Volkswagen.  Full Article

Volkswagen AG Launches Full-Cycle Production At Nizhny Novgorod Under Cooperation With Gaz OAO-Interfax
Thursday, 6 Dec 2012 02:10am EST 

Interfax reported that Volkswagen AG (VW) launched full-cycle production at Gaz OAO (GAZ) automobile works in the Nizhny Novgorod region on December 6, 2012, Mr. Winfried Vahland, Chairman of the Board of Directors at Skoda Auto, told reporters. VW produces the Skoda Yeti in Nizhny Novgorod. It has been assembling the Yeti there by the semi knocked-down method since last November. VW has invested about 1 billion euro in its production facilities in Russia. It is poised to sell around 500,000 vehicles a year in Russia by 2018. VW launched a factory in Russia's Kaluga region in 2009 and had assembled 24 models under the Skoda, Volkswagen and Audi brands by the fall of 2010. It started full-cycle production of four models of two brands, as well as the Volkswagen Touareg and Multivan by the SKD method, in September 2010. It invested 570 million euro in the factory and 774 million euro in the project as a whole. In collaboration with the GAZ Group, VW also assembles vehicles in Nizhny Novgorod. Besides the Skoda Yeti, it will perform full-cycle production of the Skoda Octavia and Volkswagen Jetta at GAZ's facilities, reports have said. VW will turn out more than 100,000 vehicles a year in Nizhny Novgorod. Investments in the project will top 200 million euro, 85 million of which will be invested by the GAZ Group. The agreement between the two companies is valid until 2019.  Full Article

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VW unveils multi-billion auto investments through next five years

FRANKFURT - Volkswagen AG is to invest 85.6 billion euros ($106 billion) in its automotive operations over the next five years to push foreign expansion, new models and technology to back its quest for global leadership.

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