Porsche 2012 Annual Report Download - page 145

Anticipated development of the
Volkswagen group
Future legal structure of the Volkswagen group
The Volkswagen group increased its share of vot-
ing rights in MAN SE to 75.03 percent, strengthen-
ing the alliance between MAN, Scania and
Volkswagen Commercial Vehicles in the reporting
period. Volkswagen is aiming for closer coopera-
tion between group companies in the commercial
vehicles segment and is keeping all options open
going forward on the future structure of the com-
mercial vehicles business. In this context,
Volkswagen announced on 9 January 2013 that it
was seeking to enter into a control and profit and
loss transfer agreement with MAN SE. The aim is
to facilitate enhanced and simplified cooperation
between Volkswagen and MAN and make the two
companies more competitive. MAN will continue
its business activities under a control and profit
and loss transfer agreement, retaining its brand-
specific features and business fields within the
Volkswagen group.
Anticipated development in 2013 and 2014
The Volkswagen group’s unique brand portfolio
covering almost all segments from motorcycles
through subcompact cars to heavy trucks and
buses, its steadily growing presence in all major
markets in the world and its wide range of
financial services give us decisive competitive
advantages. The Volkswagen group offers an
extensive range of environmentally friendly, cut-
ting-edge, high-quality vehicles for all markets
and customer groups that is unparalleled in the
industry. Volkswagen therefore estimates that its
deliveries in 2013 and 2014 will exceed the prior-
year figure in each case. The Chinese joint ven-
tures, as well as the new production facilities in
China, Russia, the USA and India, will make a
significant contribution to this development.
Challenges will come from the difficult market
environment and increasingly fierce competition as
well as interest rate and exchange rate volatility
and considerable fluctuations in raw materials
prices.
The Volkswagen group expects sales revenue in
the Automotive and Financial Services Divisions to
increase in 2013 and 2014 as against 2012. The
goal for the Volkswagen group’s operating profit is
to match the 2012 figure in 2013, and to exceed it in
2014. The Volkswagen group believes that this will
be the case for the Passenger Cars Business Area
and the Commercial Vehicles, Power Engineering
Business Area – which remains affected by high
write-downs relating to purchase price allocation,
among other things – and the Financial Services
Division. Starting in 2013, the Volkswagen group will
report the Volkswagen Commercial Vehicles brand
as part of the Commercial Vehicles, Power Engi-
neering Business Area, in line with the management
structure created.
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