Segment reporting


Volkswagen applied IFRS 8 for the first time in fiscal year 2009. In accordance with the Group’s internal reporting and management, the revised segment reporting comprises the three reportable segments Passenger Cars and Light Commercial Vehicles, Scania, and Volkswagen Financial Services.

The activities of the Passenger Cars and Light Commercial Vehicles segment cover the development of vehicles and engines, the production and sale of passenger cars and commercial vehicles, and the genuine parts business. The individual passenger car brands and light commercial vehicles of the Volkswagen Group are combined on a consolidated basis in this segment. It largely corresponds to the previous Automotive segment.

The Scania segment comprises in particular the development, production and sale of heavy commercial vehicles, the corresponding genuine parts business and the financial services offering. The Scania brand was only consolidated in the third quarter of 2008 and was still split between the Automotive and Financial Services segments in the 2008 Annual Report.

The activities of the Volkswagen Financial Services segment comprise dealer and customer financing, leasing, banking and insurance activities, as well as fleet management. It largely corresponds to the previous Financial Services segment.

At Volkswagen, segment profit or loss is measured on the basis of operating profit or loss. The assets of the segments comprise all of the assets allocated to the individual activities.

The reconciliation contains activities that do not by definition form part of the segments. It also contains all of the unallocated Group financing activities that were previously included in the Automotive segment. Consolidation adjustments between the segments (including the purchase price allocation for Scania and the holding company functions) are also contained in the reconciliation.

In the presentation by region, the “Rest of Europe” and “Africa” regions have been combined into “Europe and Other Regions” to enhance clarity.

As a matter of principle, business relationships between the companies within the segments of the Volkswagen Group are transacted at arm’s length prices.

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OPERATING SEGMENTS 2008

 

 

 

 

€ million

 

Passenger Cars
and Light
Commercial
Vehicles

 

Scania

 

Volkswagen
Financial
Services

 

Total
segments

 

Reconciliation

 

Volkswagen Group

Sales revenue from external customers

 

98,710

 

3,865

 

10,193

 

112,768

 

1,040

 

113,808

Intersegment sales revenue

 

4,484

 

 

736

 

5,220

 

–5,220

 

Total sales revenue

 

103,194

 

3,865

 

10,929

 

117,988

 

–4,180

 

113,808

Depreciation and amortization

 

5,920

 

317

 

1,574

 

7,811

 

285

 

8,096

Impairment losses

 

229

 

3

 

94

 

326

 

23

 

349

Reversal of impairment losses

 

8

 

 

0

 

8

 

 

8

Segment profit or loss (operating profit or loss)

 

6,431

 

417

 

893

 

7,741

 

–1,408

 

6,333

Share of profits and losses
of equity-accounted investments

 

176

 

1

 

101

 

278

 

632

 

910

Net interest income and other financial result

 

–116

 

–57

 

–75

 

–248

 

–387

 

–635

Segment assets

 

91,458

 

10,074

 

74,690

 

176,222

 

–8,303

 

167,919

Equity-accounted investments

 

315

 

44

 

1,435

 

1,794

 

4,579

 

6,373

Investments in intangible assets, property, plant and equipment, and investment property

 

8,667

 

284

 

121

 

9,072

 

40

 

9,112

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OPERATING SEGMENTS 2009

 

 

 

 

€ million

 

Passenger Cars
and Light
Commercial
Vehicles

 

Scania

 

Volkswagen
Financial
Services

 

Total
segments

 

Reconciliation

 

Volkswagen Group

Sales revenue from external customers

 

86,297

 

6,385

 

11,095

 

103,777

 

1,409

 

105,187

Intersegment sales revenue

 

4,952

 

 

565

 

5,517

 

–5,517

 

Total sales revenue

 

91,249

 

6,385

 

11,660

 

109,294

 

–4,107

 

105,187

Depreciation and amortization

 

5,793

 

490

 

1,727

 

8,009

 

322

 

8,331

Impairment losses

 

292

 

3

 

261

 

556

 

39

 

595

Reversal of impairment losses

 

18

 

 

30

 

49

 

 

49

Segment profit or loss (operating profit or loss)

 

2,020

 

236

 

606

 

2,862

 

–1,007

 

1,855

Share of profits and losses
of equity-accounted investments

 

106

 

1

 

91

 

198

 

503

 

701

Net interest income and other financial result

 

–587

 

–82

 

–25

 

–694

 

–602

 

–1,296

Segment assets

 

87,786

 

9,512

 

76,431

 

173,730

 

3,449

 

177,178

Equity-accounted investments

 

370

 

46

 

1,562

 

1,978

 

8,406

 

10,385

Investments in intangible assets, property, plant and equipment, and investment property

 

7,331

 

320

 

178

 

7,829

 

82

 

7,911

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RECONCILIATION

 

 

 

 

€ million

 

2009

 

2008

Segment sales revenue

 

109,294

 

117,988

Unallocated activities

 

2,078

 

1,627

Group financing

 

21

 

24

Consolidation adjustments

 

–6,207

 

–5,831

Group sales revenue

 

105,187

 

113,808

 

 

 

 

 

Segment assets

 

173,730

 

176,222

Unallocated activities

 

2,497

 

2,038

Group financing

 

25,165

 

12,377

Consolidation adjustments

 

–24,213

 

–22,718

Group assets

 

177,178

 

167,919

 

 

 

 

 

Segment profit or loss (operating profit or loss)

 

2,862

 

7,741

Unallocated activities

 

79

 

102

Group financing

 

15

 

–82

Consolidation adjustments

 

–1,101

 

–1,428

Operating profit

 

1,855

 

6,333

Financial result

 

–595

 

275

Consolidated profit before tax

 

1,261

 

6,608

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BY REGION 2008

 

 

€ million

 

Germany

 

Europe and Other Regions*

 

North America

 

South America

 

Asia/
Oceania

 

Consoli-
dation

 

Total

*

Excluding Germany.

Sales revenue from external customers

 

27,682

 

55,173

 

12,716

 

9,784

 

8,453

 

 

113,808

Intangible assets, property, plant and equipment, leasing and rental assets, and investment property

 

17,604

 

18,849

 

7,595

 

1,253

 

388

 

–238

 

45,451

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BY REGION 2009

 

 

 

 

€ million

 

Germany

 

Europe and Other Regions*

 

North America

 

South America

 

Asia/
Oceania

 

Consoli-
dation

 

Total

*

Excluding Germany.

Sales revenue from external customers

 

29,836

 

45,367

 

11,396

 

9,606

 

8,982

 

 

105,187

Intangible assets, property, plant and equipment, leasing and rental assets, and investment property

 

18,696

 

19,451

 

7,592

 

1,525

 

591

 

 

47,855

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