The subscribed capital of Volkswagen AG is composed of no-par value bearer shares with a notional value of €2.56. As well as ordinary shares, there ...
96% 7 Share of profits and losses of equity-accounted investments
€ million 2016 2015 Share of profits of equity-accounted investments 3,563 4,417 of which: from joint ventures (3,534) (4,389) of which: from associ...
71% 15 Equity-accounted investments and other equity investments
CHANGES IN EQUITY-ACCOUNTED INVESTMENTS AND OTHER EQUITY INVESTMENTS IN THE PERIOD JANUARY 1 TO DECEMBER 31, 2015 € million Equity-accounted investm...
Consolidated balance sheet structure At €409.7 billion, the Volkswagen Group’s total assets at the end of fiscal year 2016 exceeded the prior-year...
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13% Investments
B.V. on January 29, 2016. There Holding B.V. is an associate that is accounted for using the equity method. The identification of hidden reserves and...
4.1 Hedging policy and financial derivatives During the course of its general business activities, the Volkswagen Group is exposed to foreign currency...
is an asset that necessarily takes at least a year to get ready for its intended use or sale. EQUITY-ACCOUNTED INVESTMENTS The cost of equity-account...
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7% Additional Balance Sheet Disclosures in accordance with IFRS 7 (Financial Instruments)
The Group’s capital management ensures that its goals and strategies can be achieved in the interests of shareholders, employees and other stakehold...
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6% Statement of Comprehensive Income
CHANGES IN COMPREHENSIVE INCOME FOR THE PERIOD JANUARY 1 TO DECEMBER 31, 2016 € million Total Equity attributable to Volkswagen AG shareholders ...
4% Return on investment (ROI) and value contribution
current cost of capital The cost of capital is the weighted average of the required rates of return on equity and debt. The cost of equity is determi...
FINANCIAL KEY PERFORMANCE INDICATORS % 2016 2015 2014 2013 2012 1 Ratio of cash flows from operating activities to current and noncurrent financial li...
The assets and liabilities of the German and foreign companies included in the consolidated financial statements are recognized in accordance with the...
2 Excluding provisions and deferred tax liabilities. 3 Earnings before tax as a percentage of average equity (continuing operations). 4 Liabilities a...
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3% Cash Flow Statement of the Volkswagen Group for the period January 1 to December 31, 2016
€ million 2016 2015 * Net of impairment reversals. Cash and cash equivalents at beginning of period 20,462 18,634 Earnings before tax 7,292 −1,301...
of the profits or losses of joint ventures is contained in the share of profits and losses of equity-accounted investments in the corresponding segme...
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3% 29 Provisions for pensions and other post-employment benefits
that need to be covered. The pension assets are currently invested primarily in fixed-income or equity funds. The main risks are therefore interest r...
€ million 2016 2015 * Including disposal gains/losses. Income from profit and loss transfer agreements 33 29 Cost of loss absorption 24 18 Other inc...
3 These relate mainly to the fair value measurement of financial instruments, application of the equity method and reclassification of gains/losses o...
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1% Net Assets and Financial Position Volkswagen AG (Condensed, in accordance with the German Commercial Code)
Total assets amounted to €141.9 billion at December 31, 2016, €8.4 billion up on the prior-year figure. Investments in tangible and intangible fix...
are translated at the closing rate. With the exception of income and expenses recognized directly in equity, equity is translated at historical rates...
and financial assets as reported in the cash flow statement. 4 Excluding acquisition and disposal of equity investments: €18.224 (17.270) million. ...
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1% Brands and Business Fields
the sales revenue generated by our Chinese joint ventures, since these are accounted for using the equity method. KEY FIGURES BY BRAND AND BUSINESS F...
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1% Structure and Business Activities
This chapter describes the legal and organizational structure of the Volkswagen Group and explains the material changes in 2016 with respect to equity...
Volkswagen AG’s ordinary and preferred shares underperformed the market as a whole in 2016 in a volatile market environment. EQUITY MARKETS Prices o...
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1% Summary of business development and economic position
or that are directly or indirectly jointly controlled (joint ventures), are accounted for using the equity method. Joint ventures also include compan...
services receivables. Investing activities include additions to property, plant and equipment and equity investments, additions to capitalized develo...
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1% 43 Related party disclosures in accordance with IAS 24
tax burden resulting from the exercise of the options and any subsequent activities in relation to the equity investment in Porsche Holding Stuttgart...
Chinese joint venture companies are not included in Group earnings as they are accounted for using the equity method. Their profits are included sole...
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1% Group Management Report
structure of the Volkswagen Group and explains the material changes in 2016 with respect to equity investments. more Corporate Governance Report Corp...
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1% For key building blocks of the future program TOGETHER – Strategy 2025
funds for future investments can also be generated by optimizing the existing portfolio of brands and equity investments. The continuity and even clo...
1% Goals and Key Performance Indicators of the Group’s strategy
us by whether we are able to meet our obligations as regards interest payments and debt repayments. As equity holders, they expect adequate dividends...
1% Internal Management System and Key Performance Indicators
and a consensus on shared values. Sales revenue, which does not include the figures for our equity-accounted Chinese joint ventures, reflects our mar...
Based on long-term interest rates derived from the capital market and the target capital structure (fair value of equity to debt = 2:1), the minimum r...
What you'll find in this chapter: Income Statement of the Volkswagen Group for the Period January 1 to December 31, 2016. more Statement of Comprehens...
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1% 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 âˆ...
effect of initially applying IFRS 15 will be recognized as an adjustment to the opening balance of equity in 2018. This will also result in far more ...
1% Additional Income Statement Disclosures in Accordance with IFRS 7 (Financial Instruments)
CLASSES OF FINANCIAL INSTRUMENTS Financial instruments are divided into the following classes at the Volkswagen Group: financial instruments measured ...
national and international banks. Risk is additionally limited by a limit system based primarily on the equity base of the counterparties concerned a...
1% 34.5. Methods for monitoring hedge effectiveness
hedging foreign currency, interest rate and price risk, the Group held options and other derivatives on equity instruments at the reporting date with...
income statement and statement of comprehensive income, the balance sheet, the statement of changes in equity, cash flow statement and the notes to t...