Volkswagen projected that fiscal 2022 will continue to be affected by supply shortages due to structural shortages of semiconductors.
But it anticipated that the supply of semiconductors will improve in the second half of the year, compared to the first half.
According to its calculations, given the continued challenging market conditions, deliveries to Volkswagen Group customers in 2022 will be between 5 and 10% more than the previous year.
This assumes that the Covid-19 pandemic will not break out again and that the shortage of intermediate products and basic products will be less intense.
In particular, challenges will arise from the economic environment, the increasing intensity of competition, the volatility of commodity and currency markets, the security of supply chains, and stricter emission-related requirements.
The company also expects its sales revenue from the Volkswagen Group and the Passenger Car Business Area in 2022 to be between 8 and 13% higher than the previous year’s figure.
In terms of operating result for the Group and the Passenger Car Business Area, the company forecasts an operating return on sales in the range of 7.0 to 8.5% in 2022.
For the Commercial Vehicles Business Area, Volkswagen projects an operating return on sales of 5.0 to 7.0% amid a strong year-over-year increase in sales revenue, including Navistar.
In the Energy Engineering Business Area, the company expects sales revenue to be moderately higher than last year’s figure and operating profit to be in the low three-digit million euro range.
For the Financial Services Division, Volkswagen expects sales revenue to be significantly higher than the previous year’s figure and operating profit to be around €4.5 billion.
In the Automotive Division, It expects the R&D ratio to be around 7% and the capex to sales revenue ratio to be around 5.5% in 2022.
In addition, by 2022, the company estimates that diesel cash outflows will increase and mergers and acquisitions will be at the same level as the previous year.