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Business Development

Volkswagen AG (condensed, according to German Commercial Code)

SALES TO THE DEALER ORGANIZATION

Volkswagen AG sold 2,661,327 vehicles to the dealer organization in fiscal year 2011. This was 15.2% more than in the prior-year period. The proportion of vehicles sold outside Germany was 69.9% (69.2%).

PRODUCTION

Volkswagen AG produced 1,215,058 vehicles in 2011 at its vehicle production plants in Emden, Hanover and Wolfsburg, exceeding the previous year’s production by 10.4%. Average daily production was on a level with the previous year at 5,112 units.

NUMBER OF EMPLOYEES

As of December 31, 2011, a total of 97,691 people were employed at the sites of Volkswagen AG, excluding staff employed at subsidiaries. This figure included 4,667 vocational trainees. 2,446 employees were in the passive phase of their early retirement. The workforce was 3.1% higher than during the previous year.

Female employees constituted 14.8% of the total headcount. Volkswagen AG employed 3,159 part-time workers (3.2%). The percentage of foreign employees was 5.8%. The proportion of employees in the production area who completed vocational training relevant for Volkswagen was 83.6%. 15.1% of the employees were graduates. The average age of Volkswagen employees in the reporting year was 42.3 years.

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EMPLOYEE PAY AND BENEFITS AT VOLKSWAGEN AG

 

 

€ million

 

2011

 

%

 

2010

 

%

Direct pay including cash benefits

 

5,960

 

73.1

 

4,790

 

69.5

Social security contributions

 

1,022

 

12.5

 

969

 

14.1

Compensated absence

 

774

 

9.5

 

749

 

10.9

Post-employment benefits

 

401

 

4.9

 

385

 

5.6

Total expense

 

8,156

 

100.0

 

6,892

 

100.0

RESEARCH AND DEVELOPMENT

Research and development costs for Volkswagen AG under the German Commercial Code amounted to €3.2 billion (€3.1 billion) in 2011. 10,106 people were employed in this area on December 31, 2011.

PURCHASING VOLUME

The purchasing volume across the six Volkswagen AG sites in Germany increased to €24.5 billion in 2011 (€20.7 billion); the proportion attributable to German suppliers was 69.9% (70.7%). Of the total purchasing volume, €20.8 billion was spent on production materials and €3.8 billion on capital goods and services.

EXPENDITURE ON ENVIRONMENTAL PROTECTION

Expenditure on environmental protection is split between investments and operating costs. Of our total investments, those that are spent exclusively or primarily on environmental protection are included in environmental protection investments. We distinguish here between additive and integrated investments. Our focus in 2011 was on water pollution control, climate protection and air pollution control.

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VOLKSWAGEN AG EXPENDITURE ON ENVIRONMENTAL PROTECTION

 

 

€ million

 

2011

 

2010

 

2009

 

2008

 

2007

Investments

 

18

 

12

 

10

 

8

 

20

Operating costs

 

200

 

197

 

180

 

185

 

177

Operating costs for environmental protection relate exclusively to production-related measures that protect the environment against harmful factors by avoiding, reducing or eliminating emissions by the Company, or conserving resources. These entail both expenses associated with the operation of equipment that protects the environment as well as expenditures for measures not relating to such equipment.

OPERATING COSTS FOR ENVIRONMENTAL PROTECTION AT VOLKSWAGEN AG IN 2011
Share of environmental protection areas as percent

Operating costs for environmental protection at Volkswagen AG in 2011 (bar chart)

BUSINESS DEVELOPMENT RISKS AT VOLKSWAGEN AG

The business development of Volkswagen AG is exposed to essentially the same risks as the Volkswagen Group. These risks are explained in the Risk Report.

RISKS ARISING FROM FINANCIAL INSTRUMENTS

Risks for Volkswagen AG arising from the use of financial instruments are the same as those to which the Volkswagen Group is exposed. An explanation of these risks can be found in the chapter Financial risks.

DEPENDENT COMPANY REPORT

The Board of Management of Volkswagen AG has submitted to the Supervisory Board the report required by section 312 of the AktG and issued the following concluding declaration:

“We declare that, based on the circumstances known to us at the time when the transactions with affiliated companies within the meaning of section 312 of the German Stock Corporation Act (AktG) were entered into, our Company received an appropriate consideration for each transaction. No transactions with third parties or measures were either undertaken or omitted on the instructions of or in the interests of Porsche or other affiliated companies in the reporting period.”

The Annual Financial Statements of Volkswagen AG (in accordance with the HGB) can be accessed from the electronic companies register at www.unternehmensregister.de.

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