Annual Result

Special items relating to the emissions issue, and in particular provisions for technical measures and legal risks, impacted cost of sales (€7.5 billion), selling expenses (€0.8 billion) and the other operating result (€6.7 billion).

In fiscal year 2015, Volkswagen AG’s sales were 6.6% higher than in the previous year, at €73.5 billion. Sales generated abroad accounted for a share of 62.1 (62.3)%. Cost of sales increased by 15.9% to €75.7 billion; as a result, gross profit on sales declined to €−2.2 (3.7) billion.

General and administrative expenses in the reporting period amounted to €9.4 billion, up €2.9 billion on the previous year.

At €−7.1 billion, the other operating result was down €8.0 billion year-on-year. The reasons for this include considerably higher provisions for legal and litigation risks.

The financial result increased to €13.8 (6.1) billion, more than doubling compared with 2014. The increase was primarily attributable to higher net investment income.

Volkswagen AG’s result from ordinary activities declined to €−4.8 (4.2) billion. After deducting income taxes, the net loss for the year was €−5.5 billion.