Volkswagen Group achieves solid results in 2021

• Robust business model: solid results and operating margin despite semiconductor short-ages and 2.4 million fewer vehicles sold compared to 2019
• Sales revenue up 12 percent on the prior year to EUR 250.2 billion driven by better mix and favorable pricing
• Operating profit before special items almost doubled to EUR 20.0 billion
• Enhanced overall resilience: overhead costs significantly reduced, high capex discipline, break-even lowered
• Strong Automotive Division: net cash flow up by 35 percent to EUR 8.6 billion compared to prior year; net liquidity solid at EUR 26.7 billion, an increase of more than EUR 5 billion vs. end of 2019 despite comprehensive transformational steps
• Board of Management and Supervisory Board propose increased dividend of EUR 7.50 per ordinary share and EUR 7.56 per preferred share, equivalent to a payout ratio of 25.4 percent
• Outlook for 2022: deliveries expected to increase between 5 and 10 percent, operating return on sales to reach between 7.0 and 8.5 percent. However, this guidance is subject to the further development of the war in Ukraine and in particular the impact on the Group’s supply chains and the global economy as a whole

Full press release (ENG)