annualreport2021.volkswagenag.comVolkswagen Group Annual Report 2021

Hauptmenü Suche de en Home To our Shareholders Letter to our Shareholders The Board of Management Report of the Supervisory Board Committee activities Topics Conflicts of interest CG and Declaration of conformity Members of the Supervisory Board and Board of Management Audit Divisions Brands and Business Fields Volkswagen Passenger Cars ŠKODA SEAT Volkswagen Commercial Vehicles Audi Bentley Porsche TRATON GROUP Volkswagen Group China Volkswagen Financial Services Corporate Governance Corporate Governance declaration Declarations of conformity Board of Management Supervisory Board Führungspositionen-Gesetz Remuneration Report Corporate practices Members of the Board of Management Members of the Supervisory Board and Committees Remuneration Report Board of Management Remuneration Supervisory Board Remuneration Group Management Report Goals and Strategies The 12 Group Initiatives of the NEW AUTO Strategy Goals and Key Performance Indicators Internal Management System and KPIs Structure and Business Activities Disclosures Required Under Takeover Law Business Development Trends in the markets New models Deliveries Orders received Financial Services Sales to the dealer organization Production Inventories Employees Shares and Bonds Dividend Shareholder structure Share key figures Refinancing Ratings ESG ratings Results of Operations, Financial Position and Net Assets Results of Operations Financial Position Net Assets Return on investment (ROI) and value contribution ROI and value contribution ROI and value contribution in the reporting period Summary Volkswagen AG Annual Result Net Assets and Financial Position Dividend Business Development Sustainable Value Enhancement Sustainability Integrity and compliance Research and Development Sustainable mobility Synergies and Alliances Key R&D figures Purchasing Technology Production Sales and Marketing Quality Employees Training and professional development Increasing attractiveness as an employer Preventive healthcare Employee participation Information Technology Environmental strategy Separate nonfinancial Group report Post-balance sheet date events EU Taxonomy Economic activities of the Volkswagen Group Do no significant harm (DNSH) Minimum safeguards Key performance indicators Report on Expected Developments General environment Development of the global economy Passenger cars and light commercial vehicles Commercial vehicles Power Engineering Financial services Exchange rate, interest rate and commodity price trends Strategy New models Investment and financial planning Targets Summary Report on Risks and Opportunities Risk management and control system Risks and opportunities Risks and opportunities from the macroeconomy, the sector, markets and sales Research and development risks Operational risks and opportunities Environmental and social risks Legal risks Financial risks Opportunities and risks from mergers and acquisitions and/or other strategic partnerships/investments Overall assessment Prospects Consolidated Financial Statements Income Statement Statement of Comprehensive Income Balance Sheet Statement of Changes in Equity Cash Flow Statement Notes Basis of presentation Accounting standards Key events Effects of climate change Basis of consolidation Consolidated subsidiaries Investments Consolidation methods Currency translation Accounting policies Segment reporting Income Statement Disclosures Sales revenue Cost of sales Distribution expenses Administrative expenses Other operating income Other operating expenses Share of result of equity-accounted investments Interest result Other financial result Income tax income/expense Earnings per share Balance Sheet Disclosures Assets Intangible assets Property, plant and equipment Investment property Investments Financial services receivables Other receivables and financial assets Noncurrent and current other receivables Tax assets Inventories Trade receivables Marketable securities Cash and cash equivalents Liabilities Equity Financial liabilities Other financial liabilities Other liabilities Tax liabilities Provisions for pensions Other provisions Trade payables Other Disclosures Borrowing Costs Leases Financial Instruments Cash flow statement Financial risk management Hedging guidelines and principles Credit and default risk Liquidity risk Market risk Monitoring hedge effectiveness Capital management Contingent liabilities Litigation Other financial obligations Auditors’ fees Personnel expenses Employees Events after the balance sheet date Remuneration based on performance shares Related party disclosures Corporate Governance Code Remuneration Responsibility Statement Auditors’ Report Auditor’s report on the remuneration report To our Shareholders To our Shareholders Letter to our Shareholders The Board of Management Report of the Supervisory Board Report of the Supervisory Board Committee activities Topics Conflicts of interest CG and Declaration of conformity Members of the Supervisory Board and Board of Management Audit Divisions Divisions Brands and Business Fields Volkswagen Passenger Cars ŠKODA SEAT Volkswagen Commercial Vehicles Audi Bentley Porsche TRATON GROUP Volkswagen Group China Volkswagen Financial Services Corporate Governance Corporate Governance Corporate Governance declaration Corporate Governance declaration Declarations of conformity Board of Management Supervisory Board Führungspositionen-Gesetz Remuneration Report Corporate practices Members of the Board of Management Members of the Supervisory Board and Committees Remuneration Report Remuneration Report Board of Management Remuneration Supervisory Board Remuneration Group Management Report Group Management Report Goals and Strategies Goals and Strategies The 12 Group Initiatives of the NEW AUTO Strategy Goals and Key Performance Indicators Internal Management System and KPIs Structure and Business Activities Disclosures Required Under Takeover Law Business Development Business Development Trends in the markets New models Deliveries Orders received Financial Services Sales to the dealer organization Production Inventories Employees Shares and Bonds Shares and Bonds Dividend Shareholder structure Share key figures Refinancing Ratings ESG ratings Results of Operations, Financial Position and Net Assets Results of Operations, Financial Position and Net Assets Results of Operations Financial Position Net Assets Return on investment (ROI) and value contribution Return on investment (ROI) and value contribution ROI and value contribution ROI and value contribution in the reporting period Summary Volkswagen AG Volkswagen AG Annual Result Net Assets and Financial Position Dividend Business Development Sustainable Value Enhancement Sustainable Value Enhancement Sustainability Integrity and compliance Research and Development Research and Development Sustainable mobility Synergies and Alliances Key R&D figures Purchasing Technology Production Sales and Marketing Quality Employees Employees Training and professional development Increasing attractiveness as an employer Preventive healthcare Employee participation Information Technology Environmental strategy Separate nonfinancial Group report Post-balance sheet date events EU Taxonomy EU Taxonomy Economic activities of the Volkswagen Group Do no significant harm (DNSH) Minimum safeguards Key performance indicators Report on Expected Developments Report on Expected Developments General environment General environment Development of the global economy Passenger cars and light commercial vehicles Commercial vehicles Power Engineering Financial services Exchange rate, interest rate and commodity price trends Strategy Strategy New models Investment and financial planning Targets Summary Report on Risks and Opportunities Report on Risks and Opportunities Risk management and control system Risks and opportunities Risks and opportunities Risks and opportunities from the macroeconomy, the sector, markets and sales Research and development risks...