Annual Report 1987
1938-1988. Volkswagen's Golden Jubilee ~ VOLKSWAGEN AG Annual Report 1987 The Supervisory Board and the Board of Management of Volkswagen Aktiengesell schaft present the Annual Report 1987 with their compliments. This version of our Annual Report is a translation from the German original. However, it does not include the financial Statements of Volkswagen AG and their explanatory notes. The German text is authoritative. Wolfsburg, May 1988 Key Figures Table of Contents Volkswagen Group VOLKSWAGE N AG Page Change Change 1987 1986 % 1987 1986 %. , Supervisory Board 6 I 43,199 Safes DM million 54,635 1 52,794 + 3.5 1 41,134 + 5.0 Board of Management 7 Vehicfe Safes units 2,773,613 2,757,793 + 0.6 ; 1,978.440 11.926,652 + 2.7 Report of the Supervisory Board 8 Production units 2,771,379 2,776,554 - 0.2 1.473,780 11.509,439 - 2.4 average - 129,028 Management Report: Volkswagen AG and Volkswagen Group 9 W orkforce over year 260.458 I 276.459 5.8 1 126,354 + 2.1 Capital Investments DM million 4,592 6,371 -27.9 3,532 4.469 -21.0 Economic Trend in the Fiscal Year 1987 9 Additions to Leasing and Rental Assets DM million 3,318 I 2,738 - + 21.2 - J - Research and Development 12 Cash Flow DM million 4,874 4,285 + 13.8 1 2,989 [ 2,516 + 18.8 Sales, Capital Investments, Result 12 Depreciation and Write-down DM million 3,291 2,948 + 11 .6 2.014 r 1,521 + 32.4 Development in the Current Year and Prospects 16 Depreciation on DM million 1 - Leasing and Rental Assets 1.490 1.491 - 0.1 - -1 Further Information about the Fiscal Year 18 Net Earnings DM million 598 580 + 3.1 494 485 + 1.8 Finance 18 Dividend of Vo:kswagen AG DM million I 306 306 -i of which on Shares and Holdings Chart 22 Ord1nary Shares DM million 240 240 - Preference Shares DM million 66 66 - Companies within the Volkswagen Group 26 Europe 26 The number of statt and the financial All percentages are based on non North America 50 figures for the AUTOLATINA companies rounded figures.
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