DGAP-UK-Regulatory: VOLKSWAGEN AG: Volkswagen presents 2012 consolidated financial statements

 
VOLKSWAGEN AG  / Final Results 
 
22.02.2013 15:01 
 
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Volkswagen presents 2012 consolidated financial statements: 
 
- Volkswagen Group reports successful fiscal year 2012 in a challenging 
  environment 
 
- Operating profit exceeds record prior-year level at EUR 11.5 billion 
  (EUR 11.3 billion) 
 
- Profit before tax increases to EUR 25.5 billion; clearly positive 
  effects from the final measurement of the put/call rights relating to 
  Porsche as of July 31, 2012 and from remeasurement at the contribution 
  date of the shares already held (total: EUR 12.3 billion; previous 
  year: EUR 6.6 billion) 
 
- Board of Management and Supervisory Board propose an increase in the 
  dividend for Volkswagen shareholders to EUR 3.50 per ordinary share and 
  EUR 3.56 per preferred share 
 
- Deliveries top the 9 million mark for the first time at 9.3 million 
  vehicles (+ 12.2 percent); further increase in market share 
 
- Strategic growth trajectory continues with contribution in full of 
  Dr. Ing. h.c. F. Porsche AG to the Volkswagen Group, increased stake in 
  MAN SE and acquisition of Ducati 
 
- Net liquidity of EUR 10.6 billion (EUR 17.0 billion) in the Automotive 
  Division provides financial stability and flexibility 
 
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January-December                                  2012      2011  +/- (%) 
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Volkswagen Group (IFRSs): 
 
Deliveries to customers           '000 units     9,276     8,265   + 12.2 
Vehicle sales                     '000 units     9,345     8,361   + 11.8 
Production                        '000 units     9,255     8,494   +  9.0 
Employees                            Dec. 31   549,763   501,956   +  9.5 
 
 
Sales revenue                    EUR million   192,676   159,337   + 20.9 
 
Operating profit                 EUR million    11,510    11,271   +  2.1 
Profit before tax                EUR million    25,492    18,926   + 34.7 
Profit after tax                 EUR million    21,884    15,799   + 38.5 
 
Noncontrolling interests         EUR million       168       391   - 57.0 
Profit attributable to 
  shareholders of Volkswagen AG  EUR million    21,717    15,409   + 40.9 
 
Earnings per share (basic) 
- Ordinary shares                        EUR     46.42     33.10   + 40.2 
- Preferred shares                       EUR     46.48     33.16   + 40.2 
 
 
Automotive Division (including allocation of consolidation adjustments 
between the Automotive and Financial Services divisions): 
 
Cash flows from operating 
  activities                       EUR million  16,232    17,109   -  5.1 
Cash flows from investing 
  activities attributable to 
  operating activities*)           EUR million  16,455    15,998   +  2.9 
- of which investments in property, 
  plant and equipment              EUR million  10,271     7,929   + 29.5 
Net liquidity at December 31       EUR million  10,573    16,951   - 37.6 
 
 
 
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Volkswagen AG (German Commercial Code): 
 
Net income                        EUR million    6,380     3,418   + 86.7 
 
Dividend proposal: 
Dividend - per ordinary share           EUR       3.50      3.00 
         - per preferred share          EUR       3.56      3.06 
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*) Excluding acquisition and disposal of equity investments: 
   EUR 12,528 million (previous year: EUR 9,371 million). 
 
 
Prospects for 2013: 
 
In 2013, the Volkswagen Group's brands will launch a large number of 
fascinating new models and so help further expand our strong position in 
the global markets. 
 
We expect that the Volkswagen Group will outperform the market as a whole 
in a challenging environment and that deliveries to customers will 
increase year-on-year. However, we are not completely immune to the 
intense competition and the impact this has on business. The modular 
toolkit system, which is being continuously expanded, will have an 
increasingly positive effect on the Group's cost structure. 
 
We expect the Volkswagen Group's 2013 sales revenue to exceed the prior- 
year figure. Given the ongoing uncertainty in the economic environment, 
the Group's goal for operating profit is to match the prior-year level in 
2013. This applies equally to the Passenger Cars Business Area, the 
Commercial Vehicles, Power Engineering Business Area - which remains 
affected by high write-downs relating to purchase price allocation, among 
other things - and the Financial Services Division. While we shall see 
positive effects from our attractive model range and strong market 
position, there will also be increasingly stiff competition in a 
challenging market environment. Disciplined cost and investment 
management and the continuous optimization of our processes remain an 
integral part of our Strategy 2018. 
 
 
The Annual Media Conference and Investor Conference will take place on 
March 14, 2013 in Wolfsburg. 
 
Wolfsburg, February 22, 2013 
 
VOLKSWAGEN AKTIENGESELLSCHAFT - The Board of Management 
 
 
 
This report contains forward-looking statements on the business 
development of the Volkswagen Group. These statements are based on 
assumptions relating to the development of the economic and legal 
environment in individual countries and economic regions, and in 
particular for the automotive industry, which we have made on the basis 
of the information available to us and which we consider to be realistic 
at the time of going to press. The estimates given entail a degree of 
risk, and the actual developments may differ from those forecast. 
 
Consequently, any unexpected fall in demand or economic stagnation in our 
key sales markets, such as Western Europe (and especially Germany) or in 
the USA, Brazil, China, or Russia will have a corresponding impact on the 
development of our business. The same applies in the event of a 
significant shift in current exchange rates, mostly against the euro and 
primarily in US dollars, sterling, Chinese renminbi, Russian rubles, 
Swedish kronor, Mexican pesos, Australian dollars and Korean won. In 
addition, expected business development may vary if this report's 
assessments of value-enhancing factors and risks develop in a way other 
than we are currently expecting. 
 
 
 
 
 
 
 
22.02.2013 DGAP's Distribution Services include Regulatory Announcements, 
Financial/Corporate News and Press Releases. 
Media archive at www.dgap-medientreff.de and www.dgap.de 
 
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Language:           English 
Company:            VOLKSWAGEN AG 
                    Brieffach 1849 
                    38436 Wolfsburg 
                    Germany 
Phone:              [phone] - 49840 
Fax:                [phone] - 30411 
E-mail:             [e-mail] 
Internet:           www.volkswagenag.com/ir 
ISIN:               DE0007664039, DE0007664005 
Indices:            DAX, Euro Stoxx 50 
Listed:             Regulierter Markt in Berlin, Düsseldorf, Frankfurt 
                    (Prime Standard), Hamburg, Hannover, München, 
                    Stuttgart; Terminbörse EUREX; London, Luxembourg, SIX 
Category Code:      FR 
LSE Ticker:         VKW 
Sequence Number:    1353 
Time of Receipt:    Feb 22, 2013 14:28:05 
 
End of Announcement                             DGAP News-Service 
 
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