Volkswagen Financial Services’ Post

What happens in the world of finance? An overview: 𝗟𝗘𝗢𝗡𝗜 𝗔𝗰𝗾𝘂𝗶𝗿𝗲𝗱 𝗯𝘆 𝗮 𝗖𝗵𝗶𝗻𝗲𝘀𝗲 𝗠𝗮𝗷𝗼𝗿𝗶𝘁𝘆 𝗦𝘁𝗮𝗸𝗲𝗵𝗼𝗹𝗱𝗲𝗿: LEONI, a German automotive supplier, has sold parts of its business to the Chinese company Luxshare-ICT Europe. This includes its cable division, which will now be fully owned by Chinese interests. Stefan Pierer, a key figure, is stepping back from his involvement with Leoni. 𝗨𝗻𝗶𝗰𝗿𝗲𝗱𝗶𝘁-𝗖𝗼𝗺𝗺𝗲𝗿𝘇𝗯𝗮𝗻𝗸 𝗗𝗲𝗮𝗹: There is significant discussion about UniCredit’s potential acquisition of Commerzbank AG. The German government, which holds a stake in Commerzbank, has not yet made a decision on selling its shares. Unicredit appears to be moving forward with plans, but there are concerns that Deutsche Bank might interfere with the deal. This potential acquisition is fueling market speculation and debate. 𝗣𝗿𝗶𝘃𝗮𝘁𝗲 𝗘𝗾𝘂𝗶𝘁𝘆 𝗖𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲𝘀: The rising cost of financing is putting pressure on private equity (PE) firms. This includes higher interest rates and less favorable lending terms, making it harder for PE firms to close deals. 𝗔𝘅𝗲𝗹 𝗦𝗽𝗿𝗶𝗻𝗴𝗲𝗿 𝗕𝗿𝗲𝗮𝗸𝘂𝗽: Axel Springer, a major German media company, is expected to split into two businesses. The financial investors KKR and CPPIB will take over its lucrative advertising business, while Springer will retain its core media operations. 𝗗𝗕 𝗦𝗰𝗵𝗲𝗻𝗸𝗲𝗿 𝗦𝗮𝗹𝗲: The logistics company DB Schenker is nearing the final stages of its sale process. Reports suggest that private equity giant CVC has made a last-minute attempt to secure the deal.

Things have changed 👀 ⚡ Rates now starting from 0.95% ⚡ LTVs now up to 75% Clients can now benefit from lower rates and higher LTVs, all with the speed and flexibility we're known for. It's a no-brainer! 😉 Get in touch today to learn more 👇 https://lnkd.in/edxY4N3 #bridgingloan #finance #auctionpurchase #auctionfinancespecialists #bridgingloanspecialist #quickfinance

Save The Date

📊 📈 ✨ Volkswagen Financial Services have concluded the 2023 financial year with another good result. The operating profit of EUR 3.25 billion is the outcome of a normalization of business performance, without the special effects of the past two years. A strong increase in the volume of new contracts had a positive impact. The total assets of the Volkswagen Financial Services business division reached a new record high of EUR 268 billion. 📢 Dr. Christian Dahlheim, Chairman of the Board of Management of Volkswagen Financial Services AG, stated: "Despite the expected decline in earnings, we are satisfied with the past financial year. In 2023, we have achieved some important milestones on our path to becoming a sustainable mobility services provider. In an environment that remains challenging, we expect earnings for the current year to be slightly higher than the previous year.” 📢 Frank Fiedler, CFO of Volkswagen Financial Services AG, added: "The financial result for 2023 is characterized by negative valuation effects from derivatives and a challenging interest rate environment. Nevertheless, it is the best result in the company's history, if one disregards the years 2021 and 2022, which were influenced by significant special effects." 👉 During the 2023 financial year, the global contract portfolio of Volkswagen Financial Services grew slightly to 22.2 million units (+ 1.4 percent), while new contract acquisitions increased by a significant 11.4 percent to 8.6 million units. The markets in North and South America, which reported strong growth figures, are particularly noteworthy. In North America, the contract portfolio grew to 2.7 million units (+ 2.4 percent), with new contracts totaling 922,000 units (+ 31.2 percent). In South America, the number of current contracts rose to 843,000 units (+ 14.8 percent) and new contracts climbed to 502,000 units (+ 62.9 percent). 👏 Also the Volkswagen Bank performed very well. The deposit volume of Volkswagen Bank grew to EUR 37.2 billion in 2023, which is an increase of 47 percent compared to the previous year (EUR 25 billion at the end of 2022). In addition, more than 630,000 new deposit accounts for private customers were opened. Dr. Volker Stadler, Chairman of the Management Board of Volkswagen Bank GmbH, pointed out: "Together with our very good contribution to earnings of EUR 740 million, this growth is a key building block for future expansion in Europe and is therefore of high strategic importance. We will not let up, especially in the deposit business, and will continue to operate in the market with very good interest rates." Read the full press release here: https://lnkd.in/eZWDfe5R #thekeytomobility #vwfs

👍 Our good business result for 2023 shows that Volkswagen Financial Services remains on a sustainable growth path. Especially our leasing and services business performed very well which is the foundation for increasing our customer loyalty. Our strong focus on the fleet customer segment is also contributing to this development.    🌎 I am particularly pleased with the positive results of our colleagues in North and South America with an extremely strong performance in the new vehicle business. This shows that the close cooperation between brands, dealers and Volkswagen Financial Services also works on the other side of the Atlantic ocean. This broad international positioning is an important factor in stabilizing our business - today and in the future.   #vwfs #thekeytomobility

Help shape our agenda for the 24th annual Auto Finance Summit on Oct. 7-9 at Wynn Las Vegas by suggesting speakers you would like to hear from and telling us which topics are most important to you. #autofinance #autoindsutry https://hubs.la/Q02DyQqj0

🚗 The FCA Motor Finance Review: Insights To Drive Readiness 🚗 Last week, Exevion Managing Partner Darren Schindler joined a panel of experts from Fox Williams, Lothbury Business Management Ltd and Thistle Initiatives to explore how lenders can prepare for the Financial Conduct Authority's investigation into motor finance practices, with a focus on discretionary commissions in personal contract purchases (PCP) and hire purchase (HP) agreements. A critical takeaway from Darren: "This is a call to action: Consumer redress is probable rather than possible. People should expect a surge at the early stages....Getting your documentation in order so that it can be interrogated in a reasonably efficient manner, is critical." 💡 Watch the full recording here to access actionable insights and ensure your business is ready for what’s ahead: https://lnkd.in/ep9u-GsA #MotorFinance #FCAReview #FinancialServices #ComplianceMatters

Missed our webinar last week, "Preparing for the FCA's Motor Finance Review: Key Actions for 2025"? You can now watch the recording, in partnership with Fox Williams, Lothbury Business Management Ltd, and Exevion. In the session, we discussed: • Who is affected? The impact of the Review on relevant stakeholders • Previous remediation: Best practices, common pitfalls, and lessons learned • What’s different this time: Key specifics of the Review and possible implications • Key actions you can take now to prepare for May 2025 Click here to watch the recording: https://hubs.la/Q02Zk8VR0 Matthew Williamson Peter Finch Peter Denton Darren Schindler #MotorFinance #Webinar

A solid result ++ 2023 was an intense year. Under challenging economic conditions, Audi generated a robust result. Thus, we were able to strengthen our position. "Solid finances create the framework for the coming years in which we will drive forward our #transformation," says Jürgen Rittersberger, our Chief Financial Officer. Find more information on our financial results here: https://lnkd.in/eVB2yQUe #Audi #VorsprungDurchTechnik #finances #business

Help shape our agenda for the 24th annual Auto Finance Summit on Oct. 7-9 at Wynn Las Vegas by suggesting speakers you would like to hear from and telling us which topics are most important to you. #autofinance #autoindsutry https://hubs.la/Q02DyLZt0