The earnings call reflected a mixed performance for Volkswagen in the first half of 2025. While there were strong achievements in electric vehicle deliveries, order intake, and operational improvements at certain brands like Škoda, significant challenges were posed by increased U.S. tariffs, restructuring costs, and market pressures in China. The overall financial performance was impacted by these issues, leading to a decline in operating profits and negative cash flow.

Company Guidance -

Q3 2025

In the recent Volkswagen AG half-year conference call, the company provided updated financial guidance and discussed key performance metrics for the first half of 2025. Volkswagen reported stable sales revenue of EUR 158 billion, with operating results impacted by increased U.S. import tariffs and restructuring costs, leading to a 33% decline in operating profit to EUR 6.7 billion. The operating return on sales dropped to 4.2%, but excluding tariff and restructuring impacts, it was 5.6%. The company highlighted strong progress in their BEV segment, with deliveries increasing by 47% to 465,000 units. Volkswagen has adjusted its full-year outlook, anticipating revenues to match the previous year's levels and projecting an operating return on sales between 4% and 5%, factoring in potential tariff scenarios. The call emphasized the need for Volkswagen to intensify cost-cutting efforts and highlighted ongoing investments in North America, including over USD 14 billion in local production and technology advancements.

Stable Sales Revenue

Volkswagen Group generated sales revenue of EUR 158 billion in the first half of 2025, on par with the previous year.

Increased Deliveries of Electric Vehicles

Deliveries of battery electric vehicles reached 465,000 units, representing an increase of 47% and a 20% BEV sales share in Western Europe.

Strong Order Intake

Order intake in Western Europe increased by 19%, with BEV orders rising by 62%.

Record Performance by Škoda

Škoda achieved the best quarterly results in its history with an operating margin of 9% and EUR 740 million in profits.

Significant Workforce Reduction

Over 4,000 employees left Volkswagen since the end of last year, with a further 20,000 departures contractually agreed, expecting annual savings of over EUR 4 billion.

Volkswagen AG (VWAGY) Earnings, Revenues Date & History

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VWAGY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 30, 2025	2025 (Q3)	0.62 / -	0.376	―	―	―
Jul 25, 2025	2025 (Q2)	0.51 / 0.73	0.957	-24.03% (-0.23)
Apr 30, 2025	2025 (Q1)	0.42 / 0.60	0.993	-39.38% (-0.39)
Mar 11, 2025	2024 (Q4)	1.04 / 0.97	1.455	-32.99% (-0.48)
Oct 30, 2024	2024 (Q3)	0.54 / 0.38	1.174	-67.97% (-0.80)
Aug 01, 2024	2024 (Q2)	1.11 / 0.96	1.017	-5.90% (-0.06)
Apr 30, 2024	2024 (Q1)	1.06 / 0.99	1.315	-24.49% (-0.32)
Mar 13, 2024	2023 (Q4)	1.19 / 1.46	1.321	10.14% (+0.13)	―
Oct 26, 2023	2023 (Q3)	1.07 / 1.17	0.477	146.12% (+0.70)
Jul 27, 2023	2023 (Q2)	1.22 / 1.02	0.931	9.24% (+0.09)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

VWAGY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 25, 2025	$11.72	$12.02	+2.56%
Apr 30, 2025	$11.00	$10.68	-2.91%
Mar 11, 2025	$11.74	$11.68	-0.51%
Oct 30, 2024	$9.58	$9.75	+1.77%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.