Net income and dividend

(condensed, according to German Commercial Code)
Vehicle sales volume increases again

NET INCOME FOR THE YEAR

In fiscal year 2008, Volkswagen AG’s sales rose by 2.7% year-on-year to €56.7 billion on the back of stronger vehicle sales worldwide. 60.6% (61.5%) of sales revenue was generated outside Germany. As the cost of sales increased disproportionately to €55.8 billion, gross profit declined to €930 million. The rise in selling, general and administrative expenses is mainly attributable to the increase in sales promotion measures necessitated by the tougher competitive situation.

The ratio of selling, general and administrative expenses to sales also increased year-on-year. The other operating result improved by 11.8% to €1.5 billion. The financial result increased by 17.7% to €4.5 billion, chiefly due to higher income from investments and interest.

Overall, Volkswagen AG’s result from ordinary activities slipped to €2.5 billion (€2.8 billion) in 2008. After deducting income taxes, net income amounted to €0.8 billion.

  Download

INCOME STATEMENT OF VOLKSWAGEN AG

 

 

€ million

 

2008

 

2007

*

Including write-downs of financial assets.

Sales

 

56,710

 

55,218

Cost of sales

 

55,780

 

53,652

Gross profit on sales

 

+930

 

+1,566

Selling, general and administrative expenses

 

4,341

 

3,863

Other operating result

 

+1,463

 

+1,309

Financial result*

 

+4,472

 

+3,799

Result from ordinary activities

 

+2,524

 

+2,811

Taxes on income

 

1,697

 

1,356

Net income for the year

 

827

 

1,455

Retained profits brought forward

 

24

 

10

Appropriations to revenue reserves

 

70

 

720

Net retained profits

 

781

 

745

Dividend PROPOSAL

In accordance with section 58(2) of the Aktiengesetz (AktG – German Stock Corporation Act), €70 million of the net income for the year was appropriated to other revenue reserves. The Board of Management and Supervisory Board are proposing to the Annual General Meeting to pay a dividend of €779 million from net retained profits, i.e. €1.93 per ordinary share and €1.99 per preferred share.

  Download

PROPOSAL ON THE APPROPRIATION OF NET PROFIT

 

 

 

2008

Dividend distribution on subscribed capital (€1,024 million)

 

778,620,176.71

thereof on: ordinary shares

 

569,195,999.51

 preferred shares

 

209,424,177.20

Balance (carried forward to new account)

 

2,322,846.40

Net retained profits

 

780,943,023.11

Top
Deutsch | English
Print Manager
Mark this page for later printing or print all marked pages.
Download Manager
Collect files for a combined download
Compare Key Figures
Create your personal overview of important key figures.