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___________________________________________________________________________ Annual Financial Statements of Volkswagen Aktiengesellschaft as at 31.12.2010 Balance Sheet Income Statement Notes to the Annual Financial Statements 2 Annual Financial Statements of Volkswagen AG Balance Sheet of Volkswagen AG as of December 31, 2010 Note Dec. 31, 2010 Dec. 31, 2009 € million Assets Fixed assets 1 Intangible assets 163 199 Tangible assets 3,858 3,932 Long-term financial assets 38,056 34,505 42,077 38,636 Current assets Inventories 2 3,230 3,361 Receivables and other assets 3 13,909 10,376 Securities 4 79 80 Cash-in-hand and bank balances 5 7,738 8,825 24,956 22,641 Prepaid expenses 67 58 Excess of plan assets over post-employment benefit liability 10 122 – Total assets 67,223 61,334 Equity and Liabilities Equity Subscribed capital 6 1,191 1,025 Ordinary shares 755 Preferred shares 436 Contingent capital 109 Capital reserves 7 9,410 5,356 Revenue reserves 8 5,432 4,792 Net retained profits 1,039 884 17,072 12,056 Special tax-allowable reserves 9 59 65 Provisions 10 24,838 23,236 Liabilities 11 25,251 25,973 Deferred income 3 5 Total equity and liabilities 67,223 61,334 3 ANNUAL FINANCIAL STATEMENTS OF VOLKSWAGEN AG Balance Sheet Income Statement Notes Responsibility Statement Auditors’ Report Income Statement of Volkswagen AG for the Period January 1 to December 31, 2010 Note 2010 2009 € million Sales 12 57,243 47,864 Cost of sales –53,059 –47,454 Gross profit on sales 4,184 410 Selling expenses –4,210 –3,985 General and administrative expenses
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