Volkswagen Group - Annual Report 2012


€ million	Note	2012	2011
Sales revenue	1	192,676	159,337
Cost of sales	2	–157,518	–131,371
Gross profit		35,158	27,965
Distribution expenses	3	–18,850	–14,582
Administrative expenses	4	–6,223	–4,384
Other operating income	5	10,496	9,727
Other operating expenses	6	–9,070	–7,456
Operating profit		11,510	11,271
Share of profits and losses of equity-accounted investments	7	13,568	2,174
Finance costs	8	–2,552	–2,047
Other financial result	9	2,967	7,528
Financial result		13,982	7,655
Profit before tax		25,492	18,926
Income tax income/expense	10	–3,608	–3,126
current		–4,196	–4,351
deferred		588	1,225
Profit after tax		21,884	15,799
Noncontrolling interests		168	391
Profit attributable to shareholders of Volkswagen AG		21,717	15,409

Basic earnings per ordinary share in €	11	46.42	33.10
Diluted earnings per ordinary share in €	11	46.42	33.10
Basic earnings per preferred share in €	11	46.48	33.16
Diluted earnings per preferred share in €	11	46.48	33.16

Income Statement