Driving Ideas
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FACTSANDFIGURES NAVIGATOR2010 Driving ideas. TABLE OF CONTENTS 1 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. 2004 to Dec. 2009 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 SEAT 45 ãkoda 46 Volkswagen Commercial Vehicles 47 Bentley 48 Bugatti 49 Lamborghini 50 Scania 51 Volkswagen Financial Services AG 52 Historical Notes 54 The Model Range of the Volkswagen Group 74 Volkswagen Passenger Cars 74 Audi 82 SEAT 87 ãkoda 90 Volkswagen Commercial Vehicles 93 Bentley 97 Bugatti 98 Lamborghini 99 Scania 100 2 THE VOLKSWAGEN GROUP The Volkswagen Group with its headquarters in Wolfsburg is one of the world’s leading automobile manufacturers and the largest carmaker in Europe. In 2009, the Group increased the number of vehicles delivered to customers to 6.336 million (2008: 6.257 million), corresponding to a 11.3 percent share of the world passenger car market. In Western Europe, the largest car market in the world, just over one in five new cars (20.9 percent) comes from the Volks wagen Group. Group sales came in 2009 to 105.2 billion euros (2008: 113.8 billion). Profit after tax in the 2009 financial year amounted to 0.9 billion euros (2008: 4.69 billion). The Group is made up of nine brands from seven European countries: Volkswagen, Audi, SEAT, Skoda, Volkswagen Commercial Vehicles, Bentley, Bugatti, Lamborghini and Scania. www.volkswagenag.com 3 Each brand has its own character and operates as an in dependent entity on the market. The product range extends from lowconsumption small cars to luxury class vehicles. In the commercial vehicle sector, the product offering spans pick ups, busses and heavy trucks. The Group operates 60 production plants in fifteen European countries and a further six countries in the Americas, Asia and Africa. Around the world, nearly 370,000 employees produce about 26,000 vehicles or are involved in vehicle related services each working day. The Volkswagen Group sells its vehicles in 153 countries. It is the goal of the Group to offer attractive, safe and environmentally sound vehicles which are competitive on an increasingly tough market and which set world standards in their respective classes. December 31, 2009 4 BOARD OF MANAGEMENT OF VOLKSWAGEN AG Board of Management of Volkswagen Aktiengesellschaft Prof. Dr. rer. nat. Martin Winterkorn Chairman, Research and Development Prof. Dr. rer. pol. Jochem Heizmann Production Christian Klingler Sales and Marketing Prof. Dr. rer. pol. Horst Neumann Human Resources and Organization Hans Dieter Pötsch Finance and Controlling Dr. rer. pol. h.c. Francisco Javier Garcia Sanz Procurement Rupert Stadler Chairman of the Board of Management of AUDI AG February 1, 2010 SUPERVISORY BOARD www.volkswagenag.com/ir 5 Hon.-Prof. Dr. techn. h.c. Roland Oetker Dipl.-Ing. ETH Managing Partner of Ferdinand K. Piëch ROI Verwaltungsgesellschaft mbH; Chairman Hon. President of Deutsche Schutz vereinigung für Wertpapierbesitz e.V. Jürgen Peters Deputy Chairman Bernd Osterloh Chairman of the General and Group Works Councils of Volkswagen AG Jörg Bode Minister of Economic Affairs, Labor Dr. jur. Hans Michel Piëch and Transport for the Federal State Lawyer in private practice of Lower Saxony Dr. jur. Ferdinand Oliver Porsche Dr. jur. Michael Frenzel Member of the Board of Chairman of the Management of Familie Porsche AG Board of Management of TUI AG Beteiligungsgesellschaft Babette Fröhlich Dr. rer. comm. Wolfgang Porsche IG Metall, with responsibility for Chairman of the Supervisory Board Strategic Planning of Porsche Automobil Holding SE; Chairman of the Supervisory Board Dr. jur. Hans Michael Gaul of Dr. Ing. h.c. F. Porsche AG Dr. Ing. Jürgen Großmann Wolfgang Ritmeier Chairman of the Board of Manage Chairman of the Board of Manage ment of RWE AG; Partner, Georgs ment of Volkswagen Management marienhütte Holding GmbH Association (VMA) Peter Jacobs Heinrich Söfjer Chairman of the Works Council at Member of the Works Council the Volkswagen AG Emden plant Volkswagen Commercial Vehicles Hartmut Meine Jürgen Stumpf Director of the Lower Saxony and Chairman of the Works Council at SaxonyAnhalt Regional Office of the Volkswagen AG Kassel plant IG Metall Bernd Wehlauer Peter Mosch Deputy Chairman of the General Chairman of the General Works and Group Works Councils of Council of AUDI AG Volkswagen AG Christian Wulff MinisterPresident of the Federal State of Lower Saxony December 31, 2009 6 KEY FIGURES VOLKSWAGEN GROUP Volume Data 1 2009 2008 % Vehicle sales (units) 6,309,743 6,271,724 + 0.6 Production (units) 6,054,829 6,346,515 – 4.6 Employees at Dec. 31 368,500 369,928 – 0.4 Financial Data (IFRSs), € million 2009 2008 % Sales revenue 105,187 113,808 – 7.6 Operating profit 1,855 6,333 – 70.7 Profit before tax 1,261 6,608 – 80.9 Profit after tax 911 4,688 – 80.6 Profit attributable to shareholders of Volkswagen AG 960 4,753 – 79.8 Cash flows from operating activities 2 12,741 2,702 x Cash flows from investing activities 2 10,428 11,613 – 10.2 Automotive Division 3 EBITDA 4 8,005 12,108 – 33.9 Cash flows from operating activities 2 12,815 8,800 + 45.6 Cash flows from investing activities 2 10,252 11,479 – 10.7 of which: investments in property, plant and equipment 2 5,783 6,773 – 14.6 as a percentage of sales revenue 6.2 6.6 capitalized development costs 1,948 2,216 – 12.1 as a percentage of sales revenue 2.1 2.2 Net cash flow 2,563 – 2,679 x Net liquidity at Dec. 31 10,636 8,039 + 32.3 Return ratios in % 2009 2008 Return on sales before tax 1.2 5.8 Return on investment after tax (Automotive Division) 3.8 10.9 Return on equity before tax (Financial Services Division) 6 7.9 12.1 www.volkswagenag.com/ir 7 VOLKSWAGEN AG Volume Data 2009 2008 % Vehicle sales (units) 2,053,427 2,388,014 – 14.0 Production (units) 1,038,344 1,137,145 – 8.7 Employees at Dec. 31 7 95,164 90,363 + 5.3 Financial Data (HGB), € million 2009 2008 % Sales 47,864 56,710 – 15.6 Net income 1,082 827 + 30.8 1) Including volume data for the vehicleproduction investments ShanghaiVolkswagen Automotive Company Ltd. and FAWVolkswagen Automotive Company Ltd., which are accounted for using the equity method. 2) 2008 adjusted. 3) Including allocation of consolidation adjustments between the Automotive and Financial Services divisions. 4) Operating profit plus net depreciation / amortization and impairment losses / reversals of impairment losses on property, plant and equipment, capitalized development costs, leasing and rental assets, goodwill and financial assets as reported in the cash flow statement. 5) Excluding acquisition and disposal of equity investments: €7,585 million (€8,879 million). 6) Profit before tax as a percentage of average equity. 7) 2009 including Auto5000 GmbH. December 31, 2009 8 FIVE-YEAR REVIEW Volume Data (thousands) Vehicle Sales (units) Germany Abroad Production (units) Germany Abroad Employees (yearly average) Germany Abroad Financial Data (in € million ) Sales revenue Profit before tax Profit after tax Cash flows from operating activities* Cash flows from investing activities* * 2008 and 2007 adjusted. www.volkswagenag.com/ir 9 2009 2008 2007 2006 2005 6,310 6,272 6,192 5,720 5,193 1,288 1,013 1,030 1,093 1,019 5,022 5,259 5,162 4,627 4,174 6,055 6,347 6,213 5,660 5,219 1,938 2,146 2,086 1,935 1,913 4,117 4,201 4,127 3,725 3,306 367 357 329 329 345 173 178 175 174 179 194 179 154 155 166 2009 2008 2007 2006 2005 105,187 113,808 108,897 104,875 93,996 1,261 6,608 6,543 1,793 1,621 911 4,688 4,122 1,955 1,050 12,741 2,702 9,308 14,470 10,709 10,428 11,613 7,120 11,911 10,365 December 31, 2009 10 VOLKSWAGEN SHARE KEY FIGURES Dividend development Number of nopar value shares at Dec. 31 Ordinary shares thousands Preferred shares thousands Dividend per ordinary share € per preferred share € Share price development 1 Ordinary shares Closing € Annual high € Annual low € Preferred shares Closing € Annual high € Annual low € Market capitalization at Dec. 31 € billion Equity at Dec. 31 € billion Ratio of market capitalization to equity factor Key figures per share Earnings per ordinary share € basic € diluted 3 € Operating profit 3 € Cash flows from operating activities 4 € Equity Price/earnings ratio 5 factor Price/cash flow ratio 5 factor Dividend yield ordinary share % preferred share % Price development (excluding dividends) ordinary share % preferred share % Turnover on German stock exchanges 6 Turnover of Volkswagen ordinary shares € billion million shares Volkswagen share of total DAX turnover % 1) Xetra prices. 2) For 2006 from continuing and discontinued operations. 3) Based on the weighted average number of ordinary and preferred shares outstanding (basic). www.volkswagenag.com/ir 11 2009 2008 2007 2006 2005 295,005 294,920 291,337 286,980 321,930 105,238 105,238 105,238 105,238 105,238 1.60 1.93 1.80 1.25 1.15 1.66 1.99 1.86 1.31 1.21 2009 2008 2007 2006 2005 77.00 250.00 156.10 85.89 44.61 298.85 945.00 197.90 85.89 54.01 72.41 148.43 82.60 45.10 31.88 65.74 38.02 100.00 56.55 32.50 81.72 108.30 131.00 56.55 40.00 30.24 29.30 54.14 32.85 24.00 29.6 77.7 56.0 30.6 15.9 35.3 35.0 31.9 26.9 23.6 0.84 2.22 1.75 1.14 0.67 2009 2008 2007 2006 2005 2.38 11.92 10.43 7.07 2 2.90 2.38 11.88 10.34 7.04 2 2.90 4.64 15.91 15.60 5.18 6.60 31.84 27.13 39.72 37.32 27.86 88.15 87.49 80.38 68.59 55.25 36.2 21.0 15.0 12.1 15.4 2.4 9.2 3.9 2.3 1.6 2.1 0.8 1.2 1.5 2.6 2.5 5.2 1.9 2.3 3.7 – 69.2 + 60.2 + 81.7 + 92.5 + 33.8 + 72.9 – 62.0 + 76.8 + 74.0 + 33.1 2009 2008 2007 2006 2005 23.5 136.5 103.1 50.5 30.9 129.6 562.8 877.3 770.4 735.7 7 3.2 8.0 5.3 3.9 3.3 1) Xetra prices.