Interim Report JANUARY – MARCH 2011
Interim Report january – march 2 0 1 1 1 UPDATED INFORMATION 5 VOLKSWAGEN SHARES 6 MANAGEMENT REPORT 16 BRANDS AND 21 INTERIM FINANCIAL BUSINESS FIELDS STATEMENTS (CONDENSED) 1 Key Facts 6 Business Development 21 Income Statement 2 Key Events 12 Results of Operations, Finan- 22 Statement of Comprehensive cial Position and Net Assets Income 15 Outlook 23 Balance Sheet 24 Statement of Changes in Equity 26 Cash Flow Statement 27 Notes to the Financial Key Figures Statements VOLKSWAGEN GROUP Q1 Volume Data1 2011 2010 % Deliveries to customers ('000 units) 1,988 1,744 + 14.0 of which: in Germany 269 255 + 5.2 abroad 1,720 1,489 + 15.5 Vehicle sales ('000 units) 2,031 1,703 + 19.3 of which: in Germany 308 255 + 20.5 abroad 1,723 1,447 + 19.1 Production ('000 units) 2,065 1,734 + 19.1 of which: in Germany 606 565 + 7.3 abroad 1,459 1,169 + 24.8 Employees ('000 on March 31, 2011/Dec. 31, 2010) 427.2 399.4 + 7.0 of which: in Germany 183.3 181.3 + 1.1 abroad 243.9 218.1 + 11.8 Q1 Financial Data (IFRSs), € million 2011 2010 % Sales revenue 37,470 28,647 + 30.8 Operating profit 2,912 848 x as a percentage of sales revenue 7.8 3.0 Profit before tax 2,223 703 x as a percentage of sales revenue 5.9 2.5 Profit after tax 1,712 473 x Profit attributable to shareholders of Volkswagen AG 1,595 423 x Cash flows from operating activities 2,508 3,148 – 20.3 Cash flows from investing activities 4,188 3,022 + 38.6 2 Automotive Division 3 EBITDA 4,279 2,396 + 78.6 Cash flows from operating activities 5,120 3,043 + 68.3 4 Cash flows from investing activities 4,465 3,013 + 48.2 of which: investments in property, plant and equipment 940 903 + 4.1 as a percentage of sales revenue 2.8 3.5 5 capitalized development costs 392 421 – 6.9 as a percentage of sales revenue 1.2 1.7 Net cash flow 655 31 x Net liquidity at March 31 19,648 14,235 + 38.0 1 Volume data including the unconsolidated Chinese joint ventures.
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