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  • Press & Events Vitesco Technologies publishes its third independent Sustainability Report Vitesco Technologies secures 83,000 MWh of  electricity from solar and onshore wind power plants Fiscal year 2023: Profitability and cash flow exceeded expectations
    Dr. Anne-Kathrin Bräu Simone Geldhäuser Emerenz Magerl-Ziegler Dr. Sebastian Holzwarth
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  • Solutions Vitesco Technologies Combustion Solutions Beyond Powertrain DISCOVER PRODUCTS High Voltage Axle Drive (EMR3) High Voltage Battery Management System High Voltage Battery Junction Box High Voltage DC/DC Converter - 4th Generation High-Voltage Box - 2.0 Coolant Flow Control Valve 48V Belt Driven Starter Generator 48 V DC/DC Converter (air-cooled) Control Unit - Electric Drive High Voltage Inverter (EPF2.8+) Vitesco Technologies Independent Aftermarket Contact
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    Vitesco Technologies
    • Leading manufacturer of electric powertrains is well positioned to benefit from global e-mobility growth market
    • Positive first half of the year: €4.4 billion sales (HY1 2020: €3.4 billion, +29 percent), €3.8 billion order intake, of which €1.8 billion for electrification products
    • HY1 2021 adjusted EBIT of €84.2 million (HY1 2020: -€218.1 million, +€302.3 million)
    • Adjusted EBIT margin: 1.9 percent (HY1 2020: -6.4 percent)
    • Expansion of the electrification business fully on track
    • Future Supervisory Board with 16 members announced, Professor Siegfried Wolf becomes designated Chairman of the Supervisory Board

    Regensburg, September 07, 2021. Vitesco Technologies, a leading international developer and manufacturer of state-of-the-art powertrain technologies for sustainable mobility, today published its prospectus which was approved by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin; German Federal Financial Supervisory Authority). The company, Continental AG’s former Powertrain business area, plans a listing on the Frankfurt Stock Exchange on September 16, 2021.

    POSITIVE FIRST HALF OF THE YEAR: ORDER INTAKE CONFIRMS STRATEGY

    The first half of 2021 has reinforced the positive upward trend despite difficult market conditions. Globally, around 500,000 vehicles were electrified by Vitesco Technologies in the first half of 2021. “This is an enormous increase. In comparison, we were able to equip more than two million vehicles with the electrification solutions of our business unit Electrification Technology since 2006,” Wolf continued.

    In total, Vitesco Technologies generated sales of €4.4 billion in the first six months (HY1 2020: €3.4 billion, +29 percent). Adjusted EBIT increased year-on-year to €84.2 million (HY1 2020: -€218.1 million), and the adjusted EBIT margin therefore increased to +1.9 percent (HY1 2020: -6.4 percent). Adjusted EBIT increased mainly due to higher production volumes and strict fixed cost discipline, despite additional headwinds due to material shortages.

    The volume of new orders booked in the first half of 2021 was €3.8 billion, of which nearly half, approximately €1.8 billion, was for electrification products across all business units. “Margin recovery, consistent cost management, continued disciplined capital expenditure, a positive working capital and special effects relating to the Spin-off contributed to strong cash generation overall in the first six months 2021. While the figures are very encouraging, we may continue to face challenges in the coming months due to global material shortages,” said Werner Volz, CFO Vitesco Technologies.


    FORGING AHEAD WITH RE-FOCUSING THE COMPANY

    While Vitesco Technologies continues to push the expansion of its electrification business in line with dynamic customer demand, the company is also gradually withdrawing from combustion-specific technologies. This also includes the scheduled phasing out of contract manufacturing between Continental and Vitesco Technologies.

    “We had a positive first half-year and are on track to achieve our targets. Our clear strategic alignment to electrification is underscored by concrete measures: We have focused on growing our product portfolio further and faster with regard on electrification. We are well positioned in our market and coupled with the strong momentum in e-mobility, we see attractive growth opportunities for us,” said CEO Andreas Wolf.

    In addition, Vitesco Technologies employees worldwide are being trained in the area of electric mobility. To date, around 500 Vitesco Technologies employees have successfully completed our internal “Electrification Program” training curriculum, the majority of whom are already working on electrification projects.


    SUSTAINABILITY AND ESG AS INTEGRAL PARTS OF OUR VALUE CHAIN

    Current strategic steps taken include new internal ESG steering mechanisms as well as memberships in the Responsible Business Alliance (RBA) and Renewable Energy 100 (RE100), which come with voluntary commitments to the exclusive use of renewable energy and exemplary human rights due diligence. As of May 2021, Vitesco Technologies is also a signatory of the UN Women's Empowerment Principles and the "Charter of Diversity", emphasizing the company’s commitment to the economic and social benefits of diversity as well as to an inclusive society and workplace.


    SUPERVISORY BOARD OF VITESCO TECHNOLOGIES ANNOUNCED: SIEGFRIED WOLF IS THE DESIGNATED CHAIRMAN OF THE SUPERVISORY BOARD

    With the publication of the prospectus, Vitesco Technologies Group AG has also announced today its future, extended Supervisory Board and its members. The new Supervisory Board of Vitesco Technologies Group AG will consist of 16 members: eight shareholder representatives and eight employee representatives.

    The designated Chairman of the Supervisory Board is the Austrian investor and entrepreneur Professor Siegfried Wolf. He will present himself for election by the Supervisory Board at its constituent meeting.


    LISTING AND FIRST DAY OF TRADING PLANNED FOR SEPTEMBER 16, 2021

    The opening share price of Vitesco Technologies Group AG will be set on the day of listing as part of an opening auction. The price is therefore expected to be determined shortly after the start of trading. The shares of Vitesco Technologies Group AG with the International Securities Identification Number (ISIN) DE000VTSC017 and German Securities Number (Wertpapierkennnummer, WKN) VTSC01 will be listed and traded on the regulated market (Prime Standard) of the Frankfurt Stock Exchange under the trading symbol VTSC.

    The shareholders of Continental AG present at the Annual General Meeting on April 29, 2021 had previously approved the spin-off of Vitesco Technologies. Current Continental AG shareholders will be allocated new Vitesco Technologies shares at a ratio of 5:1, i.e. one Vitesco Technologies share for every five Continental shares. After the shares have been allotted and with the expected start of trading on September 16, Vitesco Technologies’ shares will be freely tradable. The prospectus is available for download at https://ir.vitesco-technologies.com//websites/vitesco/English/4000/reports-_-presentations.html#prospectus

    210709_VT_PP_01_headquarter_regensburg

    The Vitesco Technologies headquarter in Regensburg, Germany.
    © Vitesco Technologies GmbH (exclusive rights)

    210709_VT_PP_02_A-Wolf

    CEO Andreas Wolf explains how Vitesco Technologies will be able to seize opportunities on the growing e-mobility market better after becoming independent on September 16.
    © Vitesco Technologies GmbH (exclusive rights)

    210709_VT_PP_03_Boerse_Motiv_Bulle


    © Vitesco Technologies GmbH (exclusive rights)

    210709_VT_PP_04_W-Volz

    Werner Volz, CFO Vitesco Technologies, is feeling positive about the recent business figures.
    © Vitesco Technologies GmbH (exclusive rights)

    210709_VT_PP_05_Wolf_CMD

    CEO Andreas Wolf believes that after the first two quarters of the year, which were very successful, Vitesco Technologies is on track to reach its goals.
    © Vitesco Technologies GmbH (exclusive rights)

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