Volkswagen Group - Annual Report 2009

KEY FINANCIAL FIGURES

2009

2008

2007

2006

2005

1	Ratio of cash flows from operating activities to current and noncurrent financial liabilities.
2	Including allocation of consolidation adjustments between the Automotive and Financial Services divisions.
3	Including the vehicle-production investments Shanghai-Volkswagen Automotive Company Ltd. and FAW-Volkswagen Automotive Company Ltd. These companies are accounted for using the equity method.
4	Operating profit plus net depreciation/amortization and impairment losses/reversals of impairment losses on property, plant and equipment, capitalized development costs, leasing and rental assets, goodwill and financial assets as reported in the cash flow statement.
5	For details, see Value-based management.
6	2008 and 2007 adjusted.
7	Ratio of property, plant and equipment to total assets.
8	Ratio of inventories to total assets.
9	Profit before tax as a percentage of average equity (in 2006: continuing operations).

Volkswagen Group

Gross margin

12.9

15.1

15.0

13.2

13.0

Personnel expense ratio

15.2

13.9

13.4

16.6

15.7

Return on sales before tax

1.2

5.8

6.0

1.7

Return on sales after tax

0.9

4.1

3.8

2.6

1.2

Equity ratio

21.1

22.3

22.0

19.7

17.8

Dynamic gearing¹ (years)

0.2

0.3

0.2

Automotive Division²

Change in unit sales³

+0.6

+1.3

+8.2

+10.2

+1.0

Change in sales revenue

–9.3

+3.9

+2.9

+12.0

+6.8

Operating profit as a percentage of sales revenue

1.4

5.3

1.2

2.0

EBITDA (€ million)⁴

8,005

12,108

12,623

8,928

8,720

Return on investment after tax⁵

3.8

10.9

9.5

2.1

2.4

Cash flows from operating activities as a percentage of sales revenue⁶

13.8

8.6

13.8

12.2

9.5

Cash flows from investing activities as a percentage of sales revenue⁶

11.0

11.2

6.6

6.4

6.7

Investments in property, plant and equipment as a percentage of sales revenue

6.2

6.6

4.6

3.8

5.0

Ratio of noncurrent assets to total assets⁷

24.9

26.2

25.0

28.0

32.9

Ratio of current assets to total assets⁸

13.8

19.2

17.4

17.2

18.3

Inventory turnover

6.0

6.3

7.4

7.3

6.8

Equity ratio

30.2

32.6

32.3

28.8

25.3

Financial Services Division

Increase in total assets

1.6

15.4

6.3

0.4

4.7

Return on equity before tax⁹

7.9

12.1

16.1

16.9

18.2

Equity ratio

10.2

10.6

10.4

9.6

9.7

Key financial figures