Press Releases

At the annual press conference, Frank Witter, Chairman of the Board of Management of Volkswagen Financial Services AG, reported on behalf of Volkswagen AG on the results of the Volkswagen Financial Services business segment of the Volkswagen Group. Total assets of the business segment grew in the 2012 financial year by 14 percent to EU 111 billion. The operating result climbed 17.1 percent to EU 1.41 billion. "In the past financial year, the Volkswagen financial service companies have taken a big step toward achieving the objective of our WIR2018 strategy, namely to become the world’s leading automobile financial service provider," said Frank Witter. “We are growing by offering attractive mobility services for expanding customer requirements and steadily developing the range of products on offer outside our home market, too."

Volkswagen Leasing GmbH has yesterday successfully placed a 10-year benchmark bond with a volume of one billion euros pursuant to its 18 billion euro Debt Issuance Programme. This is the first benchmark bond of Volkswagen Leasing GmbH with a term of 10 years and the second benchmark transaction in 2012 under the roof of Volkswagen Financial Services AG. The order book reached a volume of 2.2 billion euros and was considerably oversubscribed. The bond were mainly marketed in Germany and France followed by Great Britain and Switzerland. The bond was sold at the lower end of the price range thanks to the great investor demand.

The securitisation transaction Driver Brasil One was successfully placed last Friday. It is the first Auto ABS (Asset-Backed Securities) transaction backed by receivables of the Banco Volkswagen S.A., located in Sao Paulo. Brazil is therefore the fifth country following Germany, UK, Spain and Japan, in which Volkswagen Financial Services is engaged with its Driver platform. Driver Brasil One was fully marketed to investors via a roadshow and subsequent book building process.

Volkswagen Financial Services AG increased its pre-tax profits during the business year 2011 by 7.2 percent to the record level of 933 million euros. Total assets rose by 17.8 percent to reach 77 billion euros. "We have also continued our worldwide growth during the business year 2011. Our strategy of diversified refinancing, a rigorous risk management and a strong sales performance have made a key contribution to the fact that Volkswagen Financial Services AG has again been able to report a record result," as the Chairman of the Management Board of Volkswagen Financial Services AG, Frank Witter, declared on the occasion of the annual press conference in Frankfurt am Main.

The securitisation transaction Volkswagen Car Lease 15 (VCL 15) with a volume of EUR 1 billion was successfully placed with a broad range of investors yesterday. VCL 15 is the first German benchmark ABS (Asset-Backed Securities) transaction from Volkswagen Financial Services AG in the year 2012 and bears the True Sale International GmbH quality label "Certified by TSI –DEUTSCHER VERBRIEFUNGSSTANDARD".

The securitisation transaction Driver Japan One was successfully placed today. It is the first Auto ABS (Asset-Backed Securities) transaction by a European car manufacturer in Japan so far which was marketed to a broad range of Japanese investors. It is backed by receivables of the Tokyo-based Volkswagen Financial Services Japan Ltd. Japan is the fourth country following Germany, UK and Spain, in which Volkswagen Financial Services is engaged with its driver platform.

Volkswagen Leasing GmbH has yesterday successfully placed two bonds with a total volume of 1.5 billion euros pursuant to the 18 billion euro Debt Issuance Programme of Volkswagen Financial Services AG. The order book for the 3- and 6.5-year tranches reached an overall volume of more than 6 billion euros and was therefore oversubscribed several times. "With this issue we have taken the various needs of the investors into account in the best possible manner. The success of these bonds supports the strong growth course of Volkswagen Financial Services," explains Frank Fiedler, CFO of Volkswagen Financial Services AG. Both bonds are guaranteed by Volkswagen Financial Services AG. The bonds were mainly marketed in Germany, France and Great Britain. This is already the fourth euro benchmark transaction in 2011 carried out by a company operating under the roof of Volkswagen Financial Services AG.

The securitisation transaction Driver España One was successfully placed with investors today. This was the first public Spanish Auto ABS (Asset-Backed Securities) transaction since 2007 and the first-ever ABS transaction to be collateralised by receivables from the Spanish Volkswagen subsidiary Volkswagen Finance S.A. based in Madrid. That makes Spain the third country after Germany and Great Britain in which Volkswagen Financial Services AG is active with its Driver platform.