- Volkswagen Group makes positive start to fiscal year 2010
- At EUR 848 million, operating profit up on the weak prior-year figure
(EUR 312 million)
- Profit before tax increases to EUR 703 million (EUR 52 million)
- Group sales revenue 19.4 percent higher than in the prior-year period
at EUR 28.6 billion
- Cash flows from operating activities amount to EUR 3.0 billion
(EUR 2.9 billion); ratio of investments in property, plant and
equipment (capex) to sales revenue at 3.5 percent (5.5 percent)
- Outflow of EUR 1.7 billion cash for the investment in Suzuki
- Successful capital increase generates cash inflow of approximately
EUR 4.1 billion, including around EUR 3.0 billion in the reporting
period; all preferred shares placed in advance
- Automotive Division net liquidity at high level of EUR 14.2 billion
- Group launches new model rollout for 2010:
- At 1.7 million vehicles, Group deliveries to customers 24.4 percent
higher than in the weak previous year; global market share increases
to 11.6 percent
- Continued strong demand for Group models in China; prior-year figures
also exceeded in Western Europe, North and South America
- New Compact Coupe concept car unveiled to the global public
- Volkswagen Passenger Cars brand celebrates world premieres of the new
Sharan and the new Touareg, which is also available in a hybrid
version
- Audi A1 is the first premium vehicle in the small compact car segment
- Audi A1 e-tron demonstrates the Group’s expertise in e-mobility
- Skoda presents the Fabia Scout
- SEAT unveils the Ibiza ST and the concept car for the IBE electric
model
- Volkswagen Commercial Vehicles launches the Amarok pickup
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January-March 2010 2009 +/- (%)
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Volkswagen Group:
Deliveries to customers ‘000 units 1,744 1,402 + 24.4
Vehicle sales ‘000 units 1,703 1,352 + 25.9

Production ‘000 units 1,734 1,253 + 38.4
Employees March 31/Dec. 31 371,289 368,500 + 0.8
Sales revenue EUR million 28,647 23,999 + 19.4
Operating profit EUR million 848 312 x
Profit before tax EUR million 703 52 x
Profit after tax EUR million 473 243 + 94.6
Automotive Division (including allocation of consolidation adjustments
between the Automotive and Financial Services divisions):
Cash flows from operating
activities EUR million 3,043 2,857 + 6.5
Cash flows from investing
activities*) EUR million 3,013 304 x
Net liquidity at March 31 EUR million 14,235 10,737 + 32.6
Net liquidity at March 31/Dec. 31 EUR million 14,235 10,636 + 33.8
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*) Excluding acquisition and disposal of equity investments:
EUR 1,250 million (previous year: EUR 1,612 million).
Our presence in all the key regions around the world, the multi-brand
strategy, our technological expertise and the most up-to-date, most
environmentally friendly and broadest vehicle range that has resulted
from that expertise are key advantages for our Company. In 2010, the
Volkswagen Group’s nine brands will unveil a large number of new models,
thus systematically extending our position in the global markets. We
therefore anticipate that our deliveries to customers will be higher than
in 2009.
The Group’s sales revenue and operating profit for 2010 are expected to
exceed the prior-year figures despite a shift in volumes between the
markets. Interest and exchange rate volatility will remain a drag on
profit. We will continue to focus on disciplined cost and investment
management and the continuous optimization of our processes. In doing so,
we will systematically pursue the core elements of the “18 plus” strategy
– ecological relevance and the return on our vehicle projects.
Wolfsburg, April 21, 2010
Volkswagen AG – The Board of Management
(The full interim report is available at “www.volkswagenag.com/ir” from
April 29, 2010 on)
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 relative to the US dollar,
sterling, Russian ruble, Mexican peso, Swedish krona, Australian dollar,
Swiss franc, Japanese yen, Brazilian real, Polish zloty, Chinese renminbi
and Czech koruna. In addition, expected business development may vary if
the assessments of value-enhancing factors and risks presented in the
2009 Annual Report develop in a way other than we are currently
expecting, or additional risks or other factors emerge that adversely
affect the development of our business.
This publication constitutes neither an offer to sell nor a solicitation
to buy or subscribe to securities. The new shares offered in connection
with the capital increase have already been placed. Any offer was made
solely on the basis of the Securities Prospectus deposited with the
German Financial Supervisory Authority (BaFin).