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Volkswagen posts record sales, revenue

Staff writer |
The Volkswagen Group posted record vehicle sales, sales revenue and earnings: group's sales revenue increased by 20.9 percent; consolidated operating profit rose to a record €11.5 billion.

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The Volkswagen Group's sales revenue increased by 20.9 percent in fiscal year 2012 to €192.7 billion (previous year: €159.3 billion). Consolidated operating profit rose slightly to a record €11.5 billion (€11.3 billion). The consolidated operating profit does not include the €3.7 billion (€2.6 billion) proportional share of the operating profit recorded by the Chinese joint ventures.

These companies are included in the consolidated financial statements using the equity method and are therefore reflected in the Group's financial result, which rose by €6.3 billion last year to €14 billion. The group's profit before tax last year rose by approximately €6.6 billion to €25.5 billion. Profit after tax amounted to €21.9 billion (€15.8 billion).

Zhe Board of Management and the Supervisory Board will be proposing to the Annual General Meeting on April 25, 2013 to increase the dividend to €3.50 (€3.00) per ordinary share and €3.56 (€3.06) per preferred share.

"We continued our successful course and further strengthened our market position thanks to our high profitability. Our growing presence in all key markets, our outstanding brand portfolio, our attractive product range and our broad financial services offering combined with our sound finances and forward-looking management are contributing to the systematic implementation of our Strategy 2018," said CFO Hans Dieter Pötsch.

At 16.6 percent, the return on investment for the Automotive Division was down slightly on the previous year (17.7%), primarily as a result of the increase in invested capital, but was still significantly above its minimum required rate of return of 9%. The return on equity in the Financial Services Division declined slightly to 13.1% (14.0%).

Net liquidity in the Automotive Division remained sound at €10.6 billion at the end of December 2012 (year-end 2011: €17.0 billion). This gives the Group the necessary financial stability and flexibility to systematically implement its Strategy 2018. Reasons for the decline include the contribution in full of Porsche's automotive business, the acquisition of Ducati and the increased stake in MAN SE.


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