Archive 2019

date

 
Braunschweig,
March 18, 2019

Volkswagen Financial Services achieve yet another record result in 2018 and set their course for the future

Volkswagen Financial Services have posted a new record operating profit for the financial year 2018 and recorded total assets of more than EUR 200 billion for the first time. In addition, an efficiency programme has been launched that aims to yield annual savings of EUR 850 million from 2025 onwards. This, together with the digitalisation of the business model, forms the basis for achieving the strategic goals of the company. "Thanks to our very good performance over recent years, we are today able to set the course for the future from a position of strength. We are therefore optimising our cost structure and continuing to work intensively on the digitalisation our business model," says Lars Henner Santelmann, Chairman of the Management Board of Volkswagen Financial Services AG. Frank Fiedler, Chief Financial Officer of Volkswagen Financial Services AG, adds: "The very good result was primarily based on the growth of our current contract portfolio. Our focus in future will be on efficiencies as well as sales. Volkswagen Financial Services have set themselves the target of achieving a cost-income ratio of 40 percent by the year 2025." This ratio was 49.0 % at the end of 2018.

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Braunschweig,
March 5, 2019

Jens Legenbauer succeeds Anthony Bandmann as Chairman of the Management Board of Volkswagen Leasing GmbH

Jens Legenbauer, who currently holds the position of Regional Manager Europe at Volkswagen Financial Services AG (VW FS AG), will become Chairman of the Management Board of Volkswagen Leasing GmbH, a wholly-owned subsidiary of VW FS AG, on 1 July 2019. He succeeds Anthony Bandmann, who will be moving on that date to Herndon, USA, to become President and CEO of VW Credit Inc., where he will also have regional responsibility for the USA, Canada and Mexico.

 

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Braunschweig,
February 27, 2019

Volkswagen Financial Services purchase LogPay Financial Services GmbH and continue to expand their mobility business

Volkswagen Financial Services are further extending their commitment to the provision of mobility services and have acquired 100 percent of the shares in LogPay Financial Services GmbH (LPFS) from DVB Bank SE. In 2017 Volkswagen Financial Services had already acquired a majority stake in LogPay Transport Services GmbH, until then a wholly-owned subsidiary of LPFS active throughout Europe in the refuelling and toll payment business.  

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Braunschweig,
February 25, 2019

More muscle for truck parking: Volkswagen Financial Services acquire majority stake in PTV Truckparking B.V.

Volkswagen Financial Services are further expanding their strategic business field of parking services. To this end Volkswagen Financial Services AG acquires 75.1 percent of the shares in the company PTV Truckparking B.V. from the Karlsruhe-based PTV Planung Transport Verkehr AG. The company is headquartered in Utrecht/Netherlands and operates the web platform (including smartphone app) Truck Parking Europe for truck drivers, which makes it easier to find and book truck parking spots on motorways. With more than a million downloads, Truck Parking Europe is the most successful trucker community-based platform/app in its field. "Smart Parking is one of our important new business segments. Up to now, however, our focus has only been on the passenger car segment in city centres. That will now change," says Gerhard Künne, Head of the Mobility Unit at Volkswagen Financial Services. He continues: "By integrating the services of PTV Truckparking B.V. in our business, we are providing considerable value added to haulage contractors and drivers and we can further optimise the search for and reservation of parking spaces." 

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Braunschweig,
February 20, 2019

Volkswagen Financial Services securitises Japanese car loans and issues bonds

Volkswagen Financial Services started the 2019 financial year with numerous issuances. The eighth Japanese auto asset-backed securities (ABS) transaction was successfully placed, as were bonds denominated in euros, British pounds (GBP), Russian rubles (RUB) and Brazilian real (BRL). The issues in the various currencies are in line with Volkswagen Financial Services' strategy of refinancing itself locally in the respective markets using various refinancing instruments.

  

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Braunschweig,
February 8, 2019

Volkswagen Financial Services acquire 60 percent stake in Europe's largest fleet management company FleetLogistics

Braunschweig, Oberhaching, 8th February 2019. Volkswagen Financial Services are further expanding their offer in the field of international fleet and mobility management through a strategic partnership with TÜV SÜD. To this end, Volkswagen Financial Services AG have taken a 60 percent stake in FleetCompany GmbH, based in Oberhaching, Bavaria, which operates worldwide under the brand name FleetLogistics in over 70 countries. The remaining 40 percent of the company's shares are held by the former sole shareholder TÜV SÜD Auto Service GmbH, headquartered in Munich, a wholly-owned subsidiary of TÜV SÜD AG.  

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Braunschweig,
January 25, 2019

Volkswagen Bank places bonds worth 2.5 billion euros

Braunschweig, 25 January 2019. Volkswagen Bank GmbH has placed four bonds with a total volume of 2.5 billion euros. The transaction generated investor interest of almost ten billion euros.

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