Volkswagen to focus on improved net cash flow in H2
2023.07.27 02:19
© Reuters. FILE PHOTO: An employee fixes a VW sign at a production line of the electric Volkswagen model ID.3 in Zwickau, Germany, February 25, 2020. REUTERS/Matthias Rietschel/file photo
BERLIN (Reuters) -Volkswagen will concentrate on improving net cash flow in the second half as logistics bottlenecks ease, the German carmaker said on Thursday, even as it slightly lowered its 2023 outlook for deliveries.
“In the first half of the year, we achieved solid financial results and took major steps to improve our competitiveness. The focus for the second half is now on strengthening net cash flow,” said Chief Financial Officer Arno Antlitz.
The carmaker still aims to hit full-year net cash flow of between 6 billion and 8 billion euros ($6.66 billion-$8.88 billion) and has taken measures to ensure it meets the lower end of this range, after reporting a muted 2.5 billion euros in the first half.
Volkswagen (ETR:) now expects full-year deliveries in a range between 9 million and 9.5 million vehicles, instead of the around 9.5 million units previously forecast, due to the uncertain economic situation.
($1 = 0.9013 euros)
