Braunschweig, 11th february 2016
Volkswagen Financial Services AG record a solid portfolio growth worldwide in 2015
• New contracts up 4.3% to 5.88 million
• Current portfolio increases even more of 9.5% to 13.8 million contracts
During the last year, Volkswagen Financial Services AG was able to record a significant increase in contracts to 5.88 million as a result of its worldwide activities (2014: 5.64 million). "We are very satisfied with the development overall. Our broad spectrum of products ranging from traditional vehicle financing over vehicle leasing to offers in the field of services and insurance has supported this solid development," said Lars Henner Santelmann, Chairman of the Board of Management of Volkswagen Financial Services AG.
New contracts in Financing and Leasing
In comparison with the previous year, the total number of new contract acquisitions rose from 2.89 million to 2.91 million (+0.7%). The growth driver in this development was the vehicle fleet business (+7.9% from 581,000 to 627,000 contracts) as opposed to the retail customer segment.
New contracts in Services and Insurance
The number of new insurance contracts rose from 1.76 million to 1.84 million (+4.5%). An even stronger growth was recorded in the business with vehicle-related services, which showed a plus of 14.0% (1.14 million contracts in 2015 over 1.0 million in 2014).
At the end of last year, Volkswagen Financial Services AG, together with all subsidiaries and including joint ventures, registered a total portfolio of 13.8 million contracts (2014: 12.6 million). The financing and leasing segment accounted for 6.97 million of these contracts (+6.3% over the figure as at 31.12.2014: 6.56 million). The total number of current vehicle insurance contracts amounted to 4.42 million (+10.5%, 4.0 million in 2014). In addition, the company had 2.41 million service contracts on its books at the end of last year (the segment with the strongest rise of +17.7%, 2.04 million in 2014).
Information for editors
Volkswagen Financial Services AG is a wholly owned subsidiary of Volkswagen AG headquartered in Braunschweig. The company is responsible for coordinating the worldwide financial services activities of the Volkswagen Group. Volkswagen Financial Services AG employs 11,305 employees throughout the world – including 5,928 alone in Germany (as at: 31.12.2014). At the end of 2014, Volkswagen Financial Services AG recorded total assets of around 107 billion euros and an operating result of 1.29 billion euros.
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