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The Volkswagen Group proved the robustness of its business model in 2021. The company increased its overall resilience and improved its capabilities to cope with constraints. Overhead costs were successfully reduced, capex discipline was high and the break-even was lowered. At the same time Volkswagen drove its transformation to NEW AUTO forward. A solid profit was achieved despite strong headwinds from semiconductor shortages that led to a decrease in vehicle sales of around 600,000 units compared to 2020. This was 2.4 million fewer units than 2019. Although sales volumes were down 6 percent on prior year, sales revenue increased by 12 percent to EUR 250.2 billion. Operating profit before special items almost doubled compared to 2020 and reached a solid level of EUR 20.0 billion. The operating return on sales before special items also climbed to 8.0 percent after 4.8 percent in prior year. Key to this financial performance was a better mix and favorable pricing. The Automotive Division generated a strong net cash flow of EUR 8.6 billion, a 35 percent year-on-year increase. The Automotive Division’s net liquidity remained almost unchanged compared to the end of 2020, at EUR 26.7 billion. However, this corresponds to an increase of more than EUR 5 billion since the end of 2019, despite the multitude of transformational steps that have been taken in this timeframe, including the acquisition of Navistar. The Board of Management and Supervisory Board are proposing a dividend of EUR 7.50 per ordinary share and EUR 7.56 per preferred share, an increase of 56 percent compared to EUR 4.80 or EUR 4.86, respectively, in the preceding year. This equals to a payout ratio of 25.4 percent. Earnings per ordinary share amounted to EUR 29.59 (16.60) and earnings per preferred share were at EUR 29.65 (16.66).

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Christopher Hauss
Corporate Communications | Head of Strategy & Finance Communications
Tel. +49 (0) 5361 / 9-984175
Christoph Oemisch
Corporate Communications | Spokesperson Finance & Sales
Tel. +49 (0) 5361 / 9-18895