Net income for the year

Volkswagen AG (CONDENSED, IN ACCORDANCE WITH THE GERMAN COMMERCIAL CODE)

Production and unit sales exceed the 2013 figure, sales and net retained profits also up year-on-year.

At €69.0 billion, Volkswagen AG’s sales in the reporting period were up 5.2% on the previous year. The proportion of sales generated outside Germany was 62.3% (62.8%). Cost of sales increased by 5.4% to €65.3 billion. As a result, gross profit improved to €3.7 billion (€3.6 billion).

Selling, general and administrative expenses were 5.6% higher in fiscal year 2014 than in the previous year, at €6.4 billion; the ratio of selling, general and administrative expenses to sales remained unchanged at 9.3% (9.3%). The other operating result amounted to €0.9 billion (€0.9 billion), roughly on a level with the previous year.

At €6.1 billion, the financial result remained constant year-on-year.

Volkswagen AG’s result from ordinary activities decreased overall to €4.2 billion (€4.6 billion) in 2014. After deducting income taxes, net income for the year was €2.5 billion.

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INCOME STATEMENT OF VOLKSWAGEN AG

 

 

€ million

 

2014

 

2013

 

 

 

 

 

*

Including write-downs of financial assets.

Sales

 

68,971

 

65,587

Cost of sales

 

65,293

 

61,937

Gross profit on sales

 

+3,678

 

+3,650

Selling, general and administrative expenses

 

6,428

 

6,088

Other operating result

 

+870

 

+944

Financial result*

 

+6,108

 

+6,115

Result from ordinary activities

 

+4,227

 

+4,620

Taxes on income

 

1,751

 

1,542

Net income for the year

 

2,476

 

3,078

Retained profits brought forward

 

3

 

6

Appropriations to revenue reserves

 

180

 

1,210

Net retained profits

 

2,299

 

1,874