People Environment Driving Ideas
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FACTSANDFIGURES NAVIGATOR2009 innovative strength zero emissions quality people technology design lightweight construction energy efficiency downsizing electric drive environment Driving ideas. TABLE OF CONTENTS Table of Contents 1 The Volkswagen Group 2 Board of Management of Volkswagen AG 4 Supervisory Board 5 Key Figures 6 Five-Year Review 8 Volkswagen Share Key Figures 10 Share Price Development from Dec. 2003 to Dec. 2008 12 Significant Group Companies 14 Production Network 16 Germany 16 Europe 18 North/South America and South Africa 22 Asia/Pacific 23 Environment and Transport 25 Deliveries to Customers 26 Competitive Situation 33 Market Shares of New Passenger Car Registrations by Country 33 New Passenger Car Registrations by Market 34 Developments in Workforce 36 Employees in Technical Development 40 General Procurement Information 42 Procurement Volumes by Brand and Company 42 Organizational Charts 43 Volkswagen Passenger Cars 43 Audi 44 Bentley 45 Bugatti 46 Lamborghini 47 Scania 48 SEAT 49 ãkoda 50 Volkswagen Commercial Vehicles 51 Volkswagen Financial Services AG 52 Historical Notes 54 The Current Model Range of the Volkswagen Group 72 Volkswagen Passenger Cars 72 Audi 80 Bentley 84 Bugatti 86 Lamborghini 86 SEAT 87 ãkoda 89 Volkswagen Commercial Vehicles 92 Scania 96 THE VOLKSWAGEN GROUP www.volkswagen-media-services.co m The Volkswagen Group with its headquarters in Wolfsburg is Each brand has its own character and operates as an in one of the world’s leading automobile manufacturers and the dependent entity on the market. The product range extends largest carmaker in Europe. In 2008, the Group increased the from lowconsumption small cars to luxury class vehicles. number of vehicles delivered to customers to 6.257 million In the commercial vehicle sector, the product offering spans (2007: 6.190 million), corresponding to a 10.3 percent share pick ups, buses and heavy trucks. of the world passenger car market. The Group operates 61 production plants in fifteen In Western Europe, the largest car market in the world, just European countries and a further six countries in the over one in five new cars (20.3 percent) comes from the Volks Americas, Asia and Africa. Around the world, nearly wagen Group. Group sales rose in 2008 to 113.8 billion euros 370,000 employees produce more than 26,600 vehicles or (2007: 108.9 billion). Profit after tax in the 2008 financial year are involved in vehiclerelated services each working day. amounted to 4.69 billion euros (2007: 4.12 billion). The Volkswagen Group sells its vehicles in more than 150 countries. The Group is made up of nine brands from seven European countries: Volkswagen, Audi, Bentley, Bugatti, Lamborghini, It is the goal of the Group to offer attractive, safe and Scania, SEAT, Skoda and Volkswagen Commercial Vehicles. environmentally sound vehicles which are competitive on an increasingly tough market and which set world standards in their respective classes. December 31, 2008 BOARD OF MANAGEMENT OF VOLKSWAGEN AG SUPERVISORY BOARD www.volkswagenag.com/ir Hon.-Prof. Dr. techn. h.c. Jürgen Peters Dipl.-Ing. ETH Deputy Chairman; Ferdinand K. Piëch President International Metal Chairman workers’ Federation – IMF Dr. jur. Michael Frenzel Roland Oetker Chairman of the Managing Partner of Board of Management of TUI AG ROI Verwaltungsgesellschaft mbH, Hon. President of Deutsche Schutz Babette Fröhlich vereinigung für Wertpapierbesitz e.V. Member of Executive Committee 01 with responsibility for Strategic Bernd Osterloh Board of Management of Volkswagen Aktiengesellschaft Planning Chairman of the General and Group Works Councils of Volkswagen AG Prof. Dr. rer. nat. Martin Winterkorn Dr. jur. Hans Michael Gaul Chairman, Dr. Wolfgang Porsche Research and Development, Dr. Ing. Jürgen Großmann Sales Chairman of the Board of Manage Wolfgang Ritmeier ment of RWE AG; Partner, Georgs Chairman of the Board of Manage marienhütte Holding GmbH ment of Volkswagen Management Prof. Dr. rer. pol. Jochem Heizmann Association (VMA) Production Holger P. Härter Chief Financial Officer, Deputy Heinrich Söfjer Dr. rer. pol. Horst Neumann President of Porsche Automobil Chairman of the Works Council of Human Resources and Organization Holding SE; Chief Financial Officer, Volkswagen Commercial Vehicles Deputy President of Dr. Ing. h.c. F. Porsche AG Jürgen Stumpf Hans Dieter Pötsch Chairman of the Works Council at Finance and Controlling Walter Hirche the Volkswagen AG Kassel plant Minister of Economic Affairs, Dr. rer. pol. h.c. Francisco Javier Garcia Sanz Labor and Transport for the Bernd Wehlauer Procurement Federal State of Lower Saxony Deputy Chairman of the General and Group Works Councils of Peter Jacobs Volkswagen AG Chairman of the Works Council at the Volkswagen AG Emden plant Dr. Ing. Wendelin Wiedeking Chairman of the Executive Board of Hartmut Meine Porsche Automobil Holding SE; Director of the Lower Saxony and President and Chief Executive Officer SaxonyAnhalt Regional Office of of Dr. Ing. h.c. F. Porsche AG IG Metall Christian Wulff Peter Mosch Prime Minister for the Chairman of the General Works Federal State of Lower Saxony Council of AUDI AG December 31, 2008 December 31, 2008 KEY FIGURES www.volkswagenag.com/ir VOLKSWAGEN GROUP VOLKSWAGEN AG Volume Data 1 2008 2007 % Volume Data 2008 2007 % Vehicle sales (units) 6,271,724 6,191,618 + 1.3 Vehicle sales (units) 2,388,014 2,365,617 + 0.9 Production (units) 6,346,515 6,213,332 + 2.1 Production (units) 1,137,145 1,075,997 + 5.7 Employees at Dec. 31 369,928 329,305 + 12.3 Employees at Dec. 31 90,363 90,468 – 0.1 Financial Data (IFRSs), € million 2008 2007 % Financial Data (HGB), € million 2008 2007 % Sales revenue 113,808 108,897 + 4.5 Sales 56,710 55,218 + 2.7 Operating profit 6,333 6,151 + 3.0 Net income 827 1,455 – 43.2 Profit before tax 6,608 6,543 + 1.0 Profit after tax 4,688 4,122 + 13.7 Profit attributable to shareholders of Volkswagen AG 4,753 4,120 + 15.4 Cash flows from operating activities 10,799 15,662 – 31.0 Cash flows from investing activities 19,710 13,474 + 46.3 Automotive Division 2: Cash flows from operating activities 8,771 13,675 – 35.9 Cash flows from investing activities 3 11,450 6,550 + 74.8 of which: investments in property, plant and equipment 6,762 4,555 + 48.5 as a percentage of sales revenue 6.6 4.6 capitalized development costs 2,216 1,446 + 53.3 as a percentage of sales revenue 2.2 1.5 Net cash flow – 2,679 7,125 x Net liquidity at Dec. 31 8,039 13,478 – 40.4 Return ratios in % 2008 2007 Return on sales before tax 5.8 6.0 1) Including volume data for the vehicleproduction investments ShanghaiVolkswagen Automotive Company Ltd. and FAWVolkswagen Automotive Return on investment after tax Company Ltd., which are accounted for using the equity method. (Automotive Division) 10.9 9.5 2) Including allocation of consolidation adjustments between Return on equity before tax the Automotive and Financial Services divisions. (Financial Services Division) 4 12.1 16.1 3) Excluding acquisition and disposal of equity investments: €8,879 million (€5,681 million). 4) Profit before tax as a percentage of average equity. December 31, 2008 FIVE-YEAR REVIEW www.volkswagenag.com/ir Volume Data (thousands) 2008 2007 2006 2005 2004 Vehicle Sales (units) 6,272 6,192 5,720 5,193 5,143 Germany 1,013 1,030 1,093 1,019 940 Abroad 5,259 5,162 4,627 4,174 4,203 Production (units) 6,347 6,213 5,660 5,219 5,093 Germany 2,146 2,086 1,935 1,913 1,832 Abroad 4,201 4,127 3,725 3,306 3,261 Employees (yearly average) 357 329 329 345 343 Germany 178 175 174 179 179 Abroad 179 154 155 166 164 Financial Data (in € million ) 2008 2007 2006 2005 2004 Sales revenue 113,808 108,897 104,875 93,996 88,963 Profit before tax 6,608 6,543 1,793 1,621 1,088 Profit after tax 4,688 4,122 1.955 1,050 697 Cash flows from operating activities 10,799 15,662 14,470 10,709 11,457 Cash flows from investing activities 19,710 13,474 11,911 10,365 15,078 December 31, 2008 0 VOLKSWAGEN SHARE KEY FIGURES www.volkswagenag.com/ir Dividend development 2008 2007 2006 2005 2004 Number of nopar value shares at Dec. 31 Ordinary shares thousands 294,920 291,337 286,980 321,930 320,290 Preferred shares thousands 105,238 105,238 105,238 105,238 105,238 Dividend per ordinary share € 1.93 1.80 1.25 1.15 1.05 per preferred share € 1.99 1.86 1.31 1.21 1.11 Share price development 1 2008 2007 2006 2005 2004 Ordinary shares Closing € 250.00 156.10 85.89 44.61 33.35 Annual high € 945.00 197.90 85.89 54.01 44.65 Annual low € 148.43 82.60 45.10 31.88 30.71 Preferred shares Closing € 38.02 100.00 56.55 32.50 24.41 Annual high € 108.30 131.00 56.55 40.00 28.97 Annual low € 29.30 54.14 32.85 24.00 21.20 Market capitalization at Dec. 31 € billion 77.7 56.0 30.6 15.9 11.9 Equity at Dec. 31 € billion 35.0 31.9 26.9 23.6 22.6 Ratio of market capitalization to equity factor 2.22 1.75 1.14 0.67 0.52 Key figures per share 2008 2007 2006 2005 2004 Earnings per ordinary share € 2 basic 11.92 10.43 7.07 2.90 1.79 € 2 diluted 11.88 10.34 7.04 2.90 1.79 3 € Operating profit 15.91 15.60 5.18 6.60 4.28 3 € Cash flows from operating activities 27.13 39.72 37.32 27.86 29.85 4 € Equity 87.49 80.38 68.59 55.25 53.19 Price/earnings ratio 5 factor 21.0 15.0 12.1 15.4 18.6 Price/cash flow ratio 5 factor 9.2 3.9 2.3 1.6 1.1 Dividend yield ordinary share % 0.8 1.2 1.5 2.6 3.1 preferred share % 5.2 1.9 2.3 3.7 4.5 Price development (excluding dividends) ordinary share % 60.2 81.7 92.5 33.8 - 24.5 preferred share % – 62.0 76.8 74.0 33.1 - 15.1 Turnover on German stock exchanges 6 2008 2007 2006 2005 2004 Turnover of Volkswagen ordinary shares € billion 136.5 103.1 50.5 30.9 24.3 million shares 562.8 877.3 770.4 735.7 682.0 Volkswagen share of total DAX turnover % 8.0 5.3 3.9 3.3 3.1 1) Xetra prices.