Volkswagen Aktiengesellschaft announced its key financial data for fiscal year 2013 in an ad hoc release published today. With sales revenue of EUR 197.0 billion (previous year: EUR 192.7 billion), the Group’s operating profit of EUR 11.7 billion (EUR 11.5 billion) exceeded the record prior-year figure. “Despite the difficult competitive environment, we once again won over customers around the world with our products. We met and even exceeded our goals for 2013. This year, the Volkswagen Group will press ahead with its product initiative across all brands. We will systematically expand our offering by introducing attractive, environmentally friendly new vehicles. Our goal is and will remain to offer all customers the mobility and innovation they need, sustainably strengthening our competitive position in the process”, said Prof. Dr. Martin Winterkorn, Chairman of the Board of Management of Volkswagen Aktiengesellschaft, in Wolfsburg on Friday.
The Group’s profit before tax amounted to EUR 12.4 billion (EUR 25.5 billion). The profit recorded by the Chinese joint ventures, which are accounted for using the equity method, exceeded the high 2012 level. By contrast, the prior-year figure was significantly influenced by measurement effects totaling EUR 12.3 billion from the integration of Porsche. Profit after tax came in at EUR 9.1 billion (EUR 21.9 billion). Net liquidity in the Automotive Division rose to EUR 16.9 billion (EUR 10.6 billion) as of year-end 2013 thanks to the robust business model. In light of the successful fiscal year, the Board of Management and the Supervisory Board will be proposing to the Annual General Meeting to increase the dividend to EUR 4.00 (EUR 3.50) per ordinary share and EUR 4.06 (EUR 3.56) per preferred share. After adjustment for the measurement effect from 2012, this represents an increase in the distribution ratio from 17.8 percent to 20.6 percent – one step closer to Volkswagen’s medium-term goal of 30 percent.
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The Group’s profit before tax amounted to EUR 12.4 billion (EUR 25.5 billion). The profit recorded by the Chinese joint ventures, which are accounted for using the equity method, exceeded the high 2012 level. By contrast, the prior-year figure was significantly influenced by measurement effects totaling EUR 12.3 billion from the integration of Porsche. Profit after tax came in at EUR 9.1 billion (EUR 21.9 billion). Net liquidity in the Automotive Division rose to EUR 16.9 billion (EUR 10.6 billion) as of year-end 2013 thanks to the robust business model. In light of the successful fiscal year, the Board of Management and the Supervisory Board will be proposing to the Annual General Meeting to increase the dividend to EUR 4.00 (EUR 3.50) per ordinary share and EUR 4.06 (EUR 3.56) per preferred share. After adjustment for the measurement effect from 2012, this represents an increase in the distribution ratio from 17.8 percent to 20.6 percent – one step closer to Volkswagen’s medium-term goal of 30 percent.
The post Volkswagen AG Reports Successful Fiscal 2013 appeared first on VWVortex.
from VWVortex http://ift.tt/1lfsjH0
http://vordermanvw.com
One of Fort Wayne's finest dealerships specializing in new and used car sales and service.
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