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.

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