Volkswagen AG - Half-Yearly Financial Report January - June 2013

Half-Yearly Financial Report 2013:

• Deliveries by Volkswagen Group to customers increase by 5.4 percent year-on-year to 4.8 million vehicles; continued strong growth in China
• Demand for Group vehicles outperforms the market as a whole worldwide; share of the passenger car market amounts to 12.7 percent (12.4 percent)
• Group sales revenue rises slightly year-on-year to EUR 98.7 billion (EUR 95.4 billion); negatively impacted by market situation in Europe
• Operating profit of EUR 5.8 billion (EUR 6.5 billion) in difficult market environment; impacted by contingency reserves affecting the areas of Passenger Cars and Power Engineering
• Earnings before tax of EUR 6.6 billion (EUR 10.1 billion); prior-year figure lifted by remeasurement of Porsche options
• Cash flows from operating activities in the Automotive Division higher than in the previous year, at EUR 8.4 billion (EUR 6.8 billion); ratio of investments in property, plant and equipment (capex) to sales revenue is 4.5 percent (4.0 percent)
• Net liquidity of EUR 11.3 billion in the Automotive Division; capital base strengthened by successful placement of a mandatory convertible note

More information in attached Ad Hoc Release and on VW website