Net income for the 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.