DGAP-UK-Regulatory: VOLKSWAGEN AG: Volkswagen presents 2012 consolidated financial statements
February 22 2013 - 9:02AM
UK Regulatory
VOLKSWAGEN AG / Final Results
22.02.2013 15:01
Dissemination of a UK Regulatory Announcement, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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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: +49 (0)5361 9 - 49840
Fax: +49 (0)5361 9 - 30411
E-mail: christine.ritz@volkswagen.de
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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