The new Volkswagen ID. EVERY1 is displayed during the presentation during the presentation of the Volkswagen ID. EVERY1 on March 5, 2025 in Dusseldorf, Germany.
Andreas Rentz | Getty Images
German autos giant Volkswagen reported a 15% year-on-year drop in annual operating profit on Tuesday, citing increasing costs and “extraordinary expenses” associated with its restructuring strategy.
It posted a revenue of 324.7 billion euros ($352.8 billion) in full-year 2024, up from 322.3 billion euros last year. The automaker said it expects sales revenue to exceed the previous year’s figure by up to 5% in 2025. It also forecasts that its operating margin, which hit 5.9% in 2024, will hit between 5.5% and 6.5% this year.
The company reported a 3.5% drop in vehicle sales through 2024, but touted the year’s “solid results in a challenging environment.”
The company said it would propose a dividend of 6.30 euros per ordinary share and 6.36 per preferred share at its annual general meeting in May — a 30% cut from the previous year.
This breaking news story is being updated.