You are here: HomeSitemap Sitemap To our Shareholders Letter to our Shareholders The Board of Management Report of the Supervisory Board Committee activities Topics Conflicts of interest CG and Declaration of conformity Members of the Supervisory Board and Board of Management Audit Divisions Brands and Business Fields Volkswagen Passenger Cars Audi ŠKODA SEAT Bentley Porsche Volkswagen Commercial Vehicles Scania MAN Volkswagen Group China Volkswagen Financial Services Group Management Report The Emissions Issue Goals and Strategies Internal Management System and KPIs Structure and Business Activities Corporate Governance Report Declaration of conformity Cooperation Objectives for the composition Remuneration Report Corporate Governance declaration Compliance Risk management Communication and Transparency Remuneration Report Board of Management Remuneration Supervisory Board Remuneration Executive Bodies Board of Management Supervisory Board Disclosures Required Under Takeover Law Business Development Global demand New models Deliveries Orders received Financial Services Sales to the dealer organization Production Inventories Employees Summary Shares and Bonds Share price development Dividend Shareholder structure Share key figures Investor Relations Refinancing Ratings Sustainability Results of Operations Financial Position Financial Positions Key figures Net Assets Value added statement RoI and value contribution Cost of capital Reporting period Summary Volkswagen AG Annual Result Net Assets and Financial Position Dividend proposal Business Development Sustainable Value Enhancement CSR and Sustainability Research and Development Studies Synergies and Alliances Know-how Key R&D figures The Volkswagen Commercial Vehicles Group Procurement Production Sales and Marketing Quality Assurance Employees Vocational training Professional development AutoUni Knowledge Campaign on Digitalization Family-friendly HR policies Performance Incentives and Bonus Arrangements Employee participation Preventive healthcare Social benefits Information Technology Environmental management Biodiversity Environmental awards Post-balance sheet date events Report on Expected Developments General environment Global economic development Passenger cars Commercial vehicles Power Engineering Financial services Exchange rate, interest rate and commodity price trends Strategy New models Sales Technical expertise, motivation and health Investment and financial planning Targets Structure of the Group Summary Report on Risks and Opportunities Risk management and control system Risks and opportunities Research and development risk Opportunities arising from the MQB Procurement risks and opportunities Production risk Risks relating to demand Quality risk Personnel risk IT risk Environmental protection regulations Litigation Financial risks Reputational risks Other factors Overall assessment Prospects Consolidated Financial Statements Income Statement Statement of Comprehensive Income Balance Sheet Statement of Changes in Equity Cash Flow Statement Notes Basis of presentation Accounting standards Key events Basis of consolidation Consolidated subsidiaries Investments Consolidation methods Currency translation Accounting policies Segment reporting Income Statement Disclosures Sales revenue Cost of sales Distribution expenses Administrative expenses Other operating income Other operating expenses Share of profits and losses of equity-accounted investments Finance costs Other financial result Income tax income/expense Earnings per share Borrowing Costs Financial Instruments Balance Sheet Disclosures Assets Intangible assets Property, plant and equipment Investment property Investments Financial services receivables Other receivables and financial assets Noncurrent and current other receivables Tax assets Inventories Trade receivables Marketable securities Cash and cash equivalents Liabilities Equity Financial liabilities Other financial liabilities Other liabilities Tax liabilities Provisions for pensions Other provisions Put options and compensation rights granted to noncontrolling interest shareholders Trade payables Financial Instruments Other Disclosures Cash flow statement Financial risk management Hedging guidelines and principles Credit and default risk Liquidity risk Market risk Monitoring hedge effectiveness Capital management Contingent liabilities Litigation Other financial obligations Auditors’ fees Total expense for the period Employees Events after the balance sheet date Related party disclosures Corporate Governance Code Remuneration Responsibility Statement Auditors’ Report Additional Information Scheduled Dates 2016 Moving Globally Key Figures Magazine It all comes down to trust understand Intuition and knowledge Berlin 2035 New energy Journey through time and space act Question time Tiguan – the 2nd generation Mobile dreams Logistics 4.0 experience App-eritif The mission My car – my buddy Magical beginnings Always on the move to page top