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Annual Report

Summary of economic position

The Board of Management of Volkswagen AG believes that the Group’s economic position is positive. The Volkswagen Group has overcome the negative effects of the global financial and economic crisis and significantly increased its earnings power in the reporting period. Sales revenue and earnings substantially exceeded the prior-year figures, allowing the Group to close fiscal year 2010 with record profit. This success is based on our disciplined cost and investment management and the continuous optimization of our processes, among other things.

The capital increase and the investment in the Suzuki Motor Corporation had a significant influence on the Volkswagen Group’s financial position in fiscal year 2010. Against the background of the planned creation of an integrated automotive group with Porsche, the capital increase strengthened the Group’s financial stability and flexibility. Together with positive business growth, it also enabled a further significant year-on-year improvement in the Automotive Division’s liquidity position.

An overview of the development of the Volkswagen Group over the past five years can be found in Key Financial Figures and the Five-Year Review. More information on the economic position of the Volkswagen Group by brand and business field can be found in the Divisions chapter.

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