Income Statement

of the Volkswagen Group for the period January 1 to December 31, 2016


€ million	Note	2016	2015

Sales revenue	1	217,267	213,292
Cost of sales	2	−176,270	−179,382
Gross profit		40,997	33,911
Distribution expenses	3	−22,700	−23,515
Administrative expenses	4	−7,336	−7,197
Other operating income	5	13,049	12,905
Other operating expenses	6	−16,907	−20,171
Operating result		7,103	−4,069
Share of profits and losses of equity-accounted investments	7	3,497	4,387
Finance costs	8	−3,247	−2,393
Other financial result	9	−61	773
Financial result		189	2,767
Earnings before tax		7,292	−1,301
Income tax income/expense	10	−1,912	−59
Current		−3,273	−2,859
Deferred		1,361	2,800
Earnings after tax		5,379	−1,361
of which attributable to
Noncontrolling interests		10	10
Volkswagen AG hybrid capital investors		225	212
Volkswagen AG shareholders		5,144	−1,582

Basic earnings per ordinary share in €	11	10.24	−3.20
Diluted earnings per ordinary share in €	11	10.24	−3.20
Basic earnings per preferred share in €	11	10.30	−3.09
Diluted earnings per preferred share in €	11	10.30	−3.09