Future organizational Structure of the Group

In line with the objective of making the Volkswagen Group more efficient and agile, we are streamlining the structure of our internal financial management and reporting, which is also described in our segment reporting pursuant to IFRS 8. Accordingly, as of January 1, 2025, the three reportable segments are: Passenger Cars and Light Commercial Vehicles, Commercial Vehicles, and Financial Services. Information on other business activities and segments which are not subject to reporting requirement will be summarized under “Other Operating Companies” in the segment reporting from January 1, 2025. This primarily includes the large-bore diesel engines, turbomachinery and propulsion components business of MAN Energy Solutions, which was previously reported as the Power Engineering segment. Due to the sale and relinquishment of the business activities which was completed in the meantime, the segment is no longer reported separately for reasons of materiality. The reconciliation of segment reporting includes the consolidation adjustments between the segments, unallocated Group financing activities, and the holding company function. It no longer includes other operating companies, which by definition do not constitute segments. These companies are reported under “Other Operating Companies”.

In line with this logic, the Volkswagen Group’s financial reporting will be divided into the Automotive and Financial Services divisions as well as consolidation adjustments between the divisions from January 1, 2025. The Automotive division will no longer be broken down into the Passenger Cars, Commercial Vehicles and Power Engineering business areas, but will be presented as in the segment reporting going forward. It primarily comprises the Passenger Cars and Light Commercial Vehicles, and Commercial Vehicles segments, but no longer includes the consolidation adjustments between divisions. The Financial Services Division corresponds to the Financial Services segment.

The following table shows the forecast-relevant key figures after the financial reporting structure adjustment.