Investments in tangible and intangible assets rose by €0.5 DIVIDEN D PROPOSAL
Investments in tangible and intangible assets rose by €0.5 DIVIDEN D PROPOSAL
billion year-on-year to €2.5 billion. This increase was In accordance with section 58(2) of the Aktiengesetz (AktG mainly due to the necessary increase in product and – German Stock Corporation Act), €3,190 million of the engine capacities. Investments in financial assets net income for the year was appropriated to other revenue amounting to €9.7 billion (€10.1 billion) include the reserves. The Board of Management and Supervisory contribution of Porsche SE ’s operating automotive Board are proposing to the Annual General Meeting to pay business and the acquisition of additional shares of MAN
a dividend of €1.6 billion from net retained profits, SE . At €61.1 billion, fixed assets exceeded the prior-year
i.e. €3.50 per ordinary share and €3.56 per preferred figure by 16.3% on December 31, 2012.
share, and to appropriate a further €1.6 billion to other Current assets were up €6.9 billion on the previous revenue reserves. year at €30.0 billion, mainly due to the increase in receivables from affiliated companies and higher liquid assets.
Equity amounted to €24.4 billion at year-end 2012. The 25.6% increase was largely the result of the significantly PROPOSAL ON TH E APPROPRIATION OF NET PROFIT higher net income.
The equity ratio was 26.8% (25.7%). Provisions
decreased by a total of €1.1 billion on the previous year.
Dividend distribution on subscribed
This is primarily attributable to lower provisions for taxes.
capital (€1,191 million)
The €0.6 billion decline in other provisions to €10.9
of which on: ordinary shares
billion was offset by a €0.6 billion increase in pension
preferred shares
provisions, to €12.0 billion. Higher liabilities to affiliated
Appropriation to other revenue reserves
companies in particular saw liabilities rise by 42.3% as
Balance (carried forward to new account)
against 2011 to €38.9 billion. The interest-bearing portion
Net retained profits
of debt rose to €33.1 billion (€20.8 billion).
EMPLOYEE PAY AN D BENEFITS AT VOLKSWAGEN AG
Direct pay including cash benefits
73.1 Social security contributions
12.5 Compensated absence
9.5 Post-employment benefits
Total expense
SALES TO THE DEALER ORGAN IZATION
PU RCHASING VOLUME
Volkswagen AG sold a total of 2,580,266 vehicles to the The purchasing volume across the six Volkswagen AG sites dealer organization in fiscal year 2012, roughly on a level in Germany amounted to €26.6 billion in fiscal year 2012 with the previous year (–3.0%). The proportion of vehicles (€24.5 billion); the proportion attributable to German sold outside Germany was 70.0% (69.9%).
suppliers was 68.4% (69.9%). Of the total purchasing volume, €21.9 billion was spent on production materials
PRODUCTION
and €4.7 billion on capital goods and services. Volkswagen AG produced 1,148,774 vehicles at its vehicle
production plants in Emden, Hanover and Wolfsburg in EXPEN DITURE ON ENVI RONMENTAL PROTECTION
the reporting period, 5.5% fewer than in 2011. Average Expenditure on environmental protection is split between daily production declined slightly compared with the investments and operating costs. Of our total investments, previous year to 5,026 units.
those that are spent exclusively or primarily on environ- mental protection are included in environmental protection
N UMBER OF EMPLOYEES
investments. We distinguish here between additive and As of December 31, 2012, a total of 101,794 people were integrated investments. Additive environmental protection employed at the sites of Volkswagen AG, excluding staff measures are separate investments that are independent employed at subsidiaries. Of this figure, 4,838 were of other investments relating to the production process. vocational trainees. 4,392 employees were in the passive They can be upstream or downstream of the production phase of their partial retirement. The workforce grew by process. In contrast to additive environmental protection 4.2% as against the prior-year reporting date.
measures, the environmental impact is already reduced Female employees accounted for 15.4% of the total during production in the case of integrated measures. Our headcount. Volkswagen AG employed 3,328 part-time focus in 2012 was on water pollution control. workers (3.3%). The percentage of foreign employees was
Operating costs for environmental protection relate 5.8%. The proportion of employees in the production area exclusively to production-related measures that protect the who have completed vocational training relevant for Volks- environment against harmful factors by avoiding, reducing, wagen was 81.3%. 16.6% of the employees were graduates. or eliminating emissions by the Company, or conserving The average age of Volkswagen employees in 2012 was resources. These entail both expenses associated with the
42.6 years. operation of equipment that protects the environment as well as expenditures for measures not relating to such
RESEARCH AN D DEVELOPMENT
equipment. Our focus in 2012 was on water pollution
Research and development costs for Volkswagen AG under control, waste management and air pollution control. the German Commercial Code amounted to €3.8 billion in 2012 (€3.2 billion). 10,869 people were employed in this area at the end of the reporting period.
VOLKSWAGEN AG EXPEN DITURE ON ENVIRONMENTAL PROTECTION
Operating costs 216
MANAGEMENT REPORT 191
Business Development Shares and Bonds Results of Operations, Financial Position and Net Assets Volkswagen AG (HGB)
Value-Enhancing Factors Risk Report Report on Expected Developments
OPERATING COSTS FOR ENVIRONMENTAL PROTECTION AT VOLKSWAGEN AG I N 2012 Share of environmental protection areas as percent
Waste management 29.2 Water pollution control
27.8 Air pollution control
22.1 Soil clean-up
8.9 Climate protection
5.8 Conservation/landscape care
3.5 Noise control
BUSIN ESS DEVELOPMENT RISKS AT VOLKSWAGEN AG
DEPEN DENT COMPANY REPORT
The business development of Volkswagen AG is exposed to The Board of Management of Volkswagen AG has essentially the same risks as the Volkswagen Group. These submitted to the Supervisory Board the report required by risks are explained in the Risk Report on pages 226 to 236 section 312 of the AktG and issued the following of this annual report.
concluding declaration:
RISKS ARISI NG FROM FINANCIAL I NSTRUMENTS
“We declare that, based on the circumstances known to us Risks for Volkswagen AG arising from the use of financial at the time when the transactions with affiliated instruments are the same as those to which the Volks- companies within the meaning of section 312 of the wagen Group is exposed. An explanation of these risks can German Stock Corporation Act (AktG) were entered into,
be found on pages 234 to 235 of this annual report. our Company received appropriate consideration for each transaction. No transactions with third parties or mea-
sures were either undertaken or omitted on the instruc- tions of or in the interests of Porsche or other affiliated companies in the reporting period.”
The Annual Financial Statements of Volkswagen AG (in accordance with the HGB) can be accessed from the electronic companies register at www.unternehmensregister.de.