Volkswagen Group Meets Its Targets For Fiscal Year 2012

Friday, February 22, 2013

Volkswagen Aktiengesellschaft announced its financial data for fiscal year 2012 in an ad hoc release published Friday. With sales revenue of EUR 192.7 billion (prior year: EUR 159.3 billion), the group’s operating profit of EUR 11.5 billion (EUR 11.3 billion) exceeded the prior-year record level.

“The economic environment for our business became noticeably more difficult as the year progressed. Nevertheless, we succeeded in meeting the targets we set ourselves for 2012”, Prof. Dr. Martin Winterkorn, chairman of the Board of Management of Volkswagen Aktiengesellschaft, said in Wolfsburg on Friday.

The group’s profit before tax in 2012 amounted to EUR 25.5 billion (EUR 18.9 billion). This includes the 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). Profit after tax came in at EUR 21.9 billion (EUR 15.8 billion). The Board of Management and the Supervisory Board will be proposing to the Annual General Meeting to increase the dividend to EUR 3.50 (EUR 3.00) per ordinary share and EUR 3.56 (EUR 3.06) per preferred share. The adjusted distribution ratio rises to 17.8 percent (15.7 percent), thus making further progress towards the medium-term target of 30 percent.

Dr. Winterkorn was guardedly confident about 2013: “We, too, are not completely immune to the intense competition and the far-reaching crisis in key European markets. Furthermore, uncertainty in the economic environment continues. Nevertheless, we see good opportunities for the Volkswagen Group to once again outperform competitors this year thanks to our sound financial strength and earning power, a broad-based and attractive model range, an expanding presence on all major global markets and our comprehensive financial services.”

Given the pressures resulting from the difficult environment the Volkswagen Group’s goal for operating profit is to match the prior-year level in 2013, officials said. Deliveries to customers and sales revenue are to increase year-on-year. “If we can meet these targets, then 2013 will be another good year for the Volkswagen Group”, Dr. Winterkorn commented.


New Hamilton County Businesses

Here are the new business licenses from the County Clerk's office: ABSTON AMP & GUITAR REP 835 RUNYAN DR CHATTANOOGA, TN 37405 ANCHORED ALLIANCES 59 FAIRHILLS DR CHATTANOOGA, TN 37405 ASHLEY ENTERPRISES INC 1020 E 13TH ST CHATTANOOGA, TN 37408 BEAMHIT INC 4824 HIXSON PK STE B HIXSON, TN 37343 CHATTANOOGA STONE CENTER 7731 LEE HIGHWAY ... (click for more)

Justice And Peace Center's Mercy Store Holds Grand Opening This Saturday

Chattanooga’s new Justice and Peace Center will open the doors to its fair trade Mercy Store with a grand opening celebration at  6 p.m. on Saturday , followed by a book signing by local author, Judith Pederson-Benn at  7 p.m. Mercy Junction is a ministry of the Presbytery of East Tennessee that operates the new Justice and Peace Center at St. Andrews on Union ... (click for more)

Woman Injured, Man Dead After Shooting Outside Collegedale Walmart

One man is dead and a woman injured after a shooting near the Collegedale Walmart on Sunday afternoon. Collegedale Police were dispatched at 2:22 p.m. to reports of a person shot at 5910 Reagan Lane. Police arrived on the scene at 2:23 p.m. and found a deceased male, and a female suffering gunshot wounds to her lower extremities. The female victim was transported to a ... (click for more)

Anonymous Facebook Posters Pose Possibility Of Signal Schools Separating From Hamilton County School System

"Should Signal Mountain Schools separate from the Hamilton County School System?"   That’s the question posted on a Facebook page titled, simply, Signal Mountain Independent School District.   The creators of the page do not identify themselves. “(W)e certainly don’t want our kids dragged into the issue or targeted for special treatment by any ... (click for more)

The Heart Of A Teacher Makes A Difference - And Response (2)

In less than four weeks, I expect to be one of 216 graduating seniors from East Hamilton School. One could say all possible variables help a student rise to the highest levels in school; but a student is more than his environment or genetic code. He is a mixture of his own propensity and dedication to academics, coupled with a systemic team of mentors who give their all as a student’s ... (click for more)

Roy Exum: The P.S. To A Sad Story

Back in the days when we were determined that the Chattanooga News-Free Press would have the best sports section in the country, I was traveling a whole lot. For example, back then I would be leaving today or tomorrow for Saturday’s Kentucky Derby, this after hardly recovering from a week spent at The Masters. And, as it happens with those who are constantly in search for tomorrow’s ... (click for more)