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Annual Report 2006 Annual Report 2006 KEY FIGURES VOLKSWAGEN GROUP Volume Data 2006 2005 % Vehicle sales (units) 5,720,096 5,192,576 + 10.2 Production (units) 5,659,578 5,219,478 + 8.4 Employees at Dec. 31 324,875 344,902 – 5.8 Financial Data (IFRSs), € million 2006 20051] % Sales revenue 104,875 93,996 + 11.6 Operating profit before special items 4,383 2,889 + 51.7 Special items 2,374 351 x Operating profit 2,009 2,538 – 20.8 Profit before tax from continuing operations 1,793 1,621 + 10.6 Profit from continuing operations 1,955 1,050 + 86.2 Profit from discontinued operations 795 70 x Profit after tax 2,750 1,120 + 145.4 Cash flows from operating activities 14,470 10,709 + 35.1 Cash flows from investing activities 11,911 10,365 + 14.9 Automotive Division2] Cash flows from operating activities 11,745 8,112 + 44.8 Cash flows from investing activities 6,114 5,721 + 6.9 of which: investments in property, plant and equipment 3,644 4,316 – 15.6 as a percentage of sales revenue 3.8 5.0 capitalized development costs 1,478 1,432 + 3.2 as a percentage of sales revenue 1.5 1.7 Net cash flow 5,631 2,391 + 135.5 Net liquidity at Dec. 31 7,133 706 x Return ratios in % 2006 20051] Return on sales before tax (continuing operations) 1.7 1.7 Return on investment after tax (Automotive Division) 2.0 2.4 Return on equity before tax (Financial Services Division)3] 16.9 18.2 1] Restated. 2] Including allocation of consolidation adjustments between the Automotive and Financial Services divisions. 3] Profit before tax as a percentage of average equity (continuing operations). VOLKSWAGEN AG Volume Data 2006 2005 % Vehicle sales (units) 2,268,830 2,151,991 + 5.4 Production (units) 953,131 956,108 – 0.3 Employees at Dec. 31 94,000 101,028 – 7.0 Financial Data (HGB), € million 2006 2005 % Sales 53,036 50,245 + 5.6 Net income 945 741 + 27.5 Volkswagen AG dividend proposal 497 of which: ordinary shares 359 preferred shares 138 This version of the Annual Report is a translation of the German original. The German text is authoritative. Chronicle 2006 JANUARY FEBRUARY MARCH APRIL MAY JUNE JANUARY 5, 2006 FEBRUARY 3, 2006 MARCH 2 – 12, 2006 APRIL 6, 2006 MAY 2, 2006 JUNE 2, 2006 Cooperation with Volkswagen Financial International Motor World premiere of the Eos launched in Volkswagen receives DaimlerChrysler Services AG coordi- Show, Geneva new Audi TT Coupé in Europe European environ- agreed nates financial service Berlin mental award Volkswagen presents After more than one activities worldwide Together with the the Polo BlueMotion – Audi presents its TT million VW cabriolets in The European Commis- Chrysler Group (which Volkswagen Financial the first series-produced Coupé to the public for the Beetle, Karmann sion commends the is part of the Daimler- Services AG, which was model with the new the first time with the Ghia, Golf and New Beetle Volkswagen Group for Chrysler Group), Volks- previously responsible seal of quality, which unveiling of a stone series, Volkswagen its end-of-life vehicle wagen will develop for the Europe and will in future denote sculpture of the new launches the new Eos. recycling technology, and manufacture a new Asia-Pacific regions, the most fuel-efficient model. This four-seater is the which is particularly van for the US market. now coordinates the version of every world’s first production environmentally- and The vehicle will be sold Volkswagen Group’s Volkswagen series. In APRIL 7,2006 vehicle to have a five- resource-friendly. in the USA under the global financial services addition, Volkswagen “Flotten-Award 2006”: piece convertible, sun Volkswagen brand. activities. unveils the Concept A Nine gold medals for and coupé roof (CSC JUNE 18, 2006 study with the first TSI Volkswagen roof). TDI power provides JANUARY 19, 2006 natural gas engine. a Le Mans victory for Volkswagen Group is The Passat is At the same time, Sˇ koda MAY 29, 2006 Audi the most successful “Germany’s Favorite presents the world Contracts for vehicle manufacturer The new Audi R10 TDI Car 2006” premiere of the new Volkswagen plant in at the “Flotten-Award is the first diesel-engine Roomster. Russia signed Presentation of the 2006” (“Fleet Award vehicle ever to win the “Gelber Engel“(“Golden 2006”), with nine first The contracts are signed world’s most grueling MARCH 7, 2006 Angel”) in Munich: places in the small car, after the Supervisory motor race. Volkswagen – ADAC readers and visi- medium car, luxury car Board approved the a founding member of tors at the International and compact delivery proposed construction “Alliance for Synthetic Motor Show (IAA) voted van categories, amongst of a factory in the Fuels in Europe” the Volkswagen Passat others. Around 4,500 Russian town of Kaluga, (ASFE) their favorite car. readers took part in the around 160 kilometers Volkswagen and other survey in the “Autoflotte” southwest of Moscow, JANUARY 23, 2006 automobile manufac- trade journal. on April 20, 2006. Volkswagen creates turers form an alliance new structures to with fuel producers, to APRIL 27,2006 combat corruption promote the develop- Production anniversary ment of synthetic fuels in Emden Volkswagen launches in Europe. an ombudsman system Volkswagen in Emden with the aim of com- manufactures the 14 MARCH 15, 2006 bating corruption millionth Passat world- Volkswagen sells Group-wide and pro- wide. The Passat is one Europcar moting transparency in of the most popular our corporate culture. Volkswagen AG’s Super- midsized cars and is visory Board approves currently the most suc- the sale of the wholly- cessful model of its owned Europcar sub- class in Germany. sidiary to the French investment group Eurazeo. The company has been managed by Eurazeo since June1, 2006. JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER JULY 13, 2006 AUGUST 15, 2006 SEPTEMBER 12, 2006 OCTOBER 3, 2006 NOVEMBER 8, 2006 DECEMBER 1–10, 2006 Volkswagen joins Touareg is the first Volkswagen number Volkswagen announces New Eos wins Los Angeles Motor Clean Energy Partner- turbo diesel SUV with one in J. D. Power strategic interest “Goldenes Lenkrad Show, Los Angeles ship a particulate filter on environmental study in MAN Aktiengesell- 2006” (“Golden The world premieres of the US market schaft Steering Wheel 2006”) Eleven companies and Volkswagen was named the Volkswagen Concept 17 hydrogen passenger The Touareg V10 TDI the most environmen- The investment secures The Cabriolet-Coupé Tiguan, the Audi TT cars are involved in sets new standards in tally friendly automobile the Company’s long-term outstrips its eleven Roadster and the the project for emission- the USA in terms of manufacturer in the interest in the commer- competitors in the Lamborghini Murciélago free mobility. The drive technology, thus research institute’s cial vehicles business, “convertibles”class. LP 640 are among the goal is to test hydrogen driving forward the “Alternative Powertrain and allows it to maximize highlights of the motor as a fuel suitable for trend towards diesel. Study”,conducted for synergy effects by lever- NOVEMBER 29, 2006 show. daily use and its systems the first time in the USA. aging jointly developed Agreement for compatibility. The Volkswagen models’ solutions. Volkswagen plant in DECEMBER 1–10, 2006 low fuel consumption India signed Essen Motor Show, JULY 20 – 30, 2006 and emissions levels Essen The agreement is signed British International were the winning factors. after the Supervisory Volkswagen unveils the Motor Show, London Board approved the con- R36, the most powerful SEPTEMBER 29, 2006 SEAT presents the new struction of a production Passat of all time, to the New collective SEAT Leon Cupra. facility in Pune, Maha- global public. bargaining agreement rashtra, on November 17, JULY 24, 2006 Volkswagen AG and IG 2006. DECEMBER 3 –17, 2006 Volkswagen lays the Metall agree on the key Bologna Motorshow, foundations for inno- points for improving Bologna vative organization the competitiveness of Volkswagen presents of work practices and the six traditional plants another member of processes in Germany during the “Cross” family, the collective bargaining The Board of Manage- CrossTouran. negotiations. ment and the Central Works Council signs DECEMBER 31, 2006 SEPTEMBER 30 – the “Volkswagen Way” Autostadt achieves OCTOBER 15, 2006 works agreement, delivery record Mondial de approving far-reaching l’Automobile, Paris The customer center changes in workflows in the Autostadt in and processes as well as Along with the IROC Wolfsburg records its in cooperation between study, the highlights of best result since its divisions. the Volkswagen Group’s opening in June 2000, presence at the show with 170,000 vehicle were the world premieres deliveries. of the CrossGolf, the new Touareg and the new Touran, as well as the Audi R8 and the SEAT Altea XL. CHRONICLE 2006 Answers on sustainability Globally operating companies face numerous economic, social and ecological challenges – the more so if they are active in the “mobility”sector. The changing environment constantly raises new questions that need to be answered. The Volkswagen Group sees this as an opportunity. Our broad range of products and services, innovative strength and superbly trained staff in all divisions enable us to find forward-looking answers. We believe that sustainable corporate governance means taking responsibility: for our customers, shareholders, employees, suppliers, for society and for the environment. Contents GROUP FINANCIAL COMMUNICATION DIVISIONS 4 Report of the Supervisory Board 28 Volkswagen Shares and Bonds 40 Business Lines and Markets 8 Letter to our Shareholders
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