Volkswagen AG — Earnings Release 2007

Apr 18, 2007

News Details

Ad-hoc | 18 April 2007 16:17

Volkswagen AG: Interim Report January – March 2007

VOLKSWAGEN AG / Quarter Results

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Interim Report January - March 2007:

• Volkswagen Group operating profit for January to March 2007
  up significantly year-on-year at EUR 1.1 billion

• Consolidated pre-tax profit from continuing operations considerably
  higher year-on-year, also at EUR 1.1 billion

• At EUR 740 million, consolidated profit after tax exceeds previous
  year’s figure by EUR 413 million

• Group sales revenue of EUR 26.6 billion rises by 5.1 percent
  year-on-year, primarily due to higher volume

• Share of voting rights (equity interest) in MAN AG increased to
  29.9 percent (28.67 percent) and in Scania AB to 36.4 percent
  (20.03 percent)

• Product rollout successfully continued:

• Worldwide deliveries to customers up by 7.9 percent compared with
  prior-year period; slight increase in Group’s market share in
  Western Europe

• All Group brands increase their sales in the first quarter compared
  with the previous year

• SEAT reports increased sales, with a particularly positive
  development in Central and Eastern Europe

• Year-on-year increase in deliveries in China, Brazil, and
  Central and Eastern Europe

• Volkswagen Golf continues to be the most popular vehicle in Germany

• Successful launch of the Audi TT Roadster and the Skoda Fabia;
  CrossGolf and CrossTouran complete the Cross product series

• World premiere for Golf Variant and Passat BlueMotion at the Geneva
  International Motor Show; Audi impresses with new A5 series;
  SEAT presents Altea Freetrack study

• 25 millionth Golf rolls off the production line in Wolfsburg

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January-March 2007 2006*) +/- (%)

Volkswagen Group:

Deliveries to customers ‘000 units 1,470 1,362 + 7.9
Vehicle sales ‘000 units 1,501 1,391 + 8.0
Production ‘000 units 1,558 1,454 + 7.2
Employees March 31/Dec. 31 324,216 324,875 - 0.2

Continuing operations:
Sales revenue EUR million 26,640 25,337 + 5.1

Operating profit
before special items EUR million 1,085 688 + 57.7
Special items EUR million - -89 x
Operating profit
after special items EUR million 1,085 599 + 81.1

Profit before tax from
continuing operations EUR million 1,069 412 x
Profit from continuing operations EUR million 740 334 x

Profit/loss from discontinued
operations**) EUR million - -7 x
Profit after tax EUR million 740 327 x

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*) Restated
**) Profit after tax of the Europcar group for January to March 2006.

The high positive rates of change in the first quarter of 2007 should be
seen in the light of the relatively low comparative figures for the first
quarter of 2006; the success of the restructuring measures led to higher
results in the second to fourth quarters of 2006.

We continue to assume that the 2007 operating profit will probably be
higher than the previous year’s operating profit before special items.

Wolfsburg, April 18, 2007

Volkswagen AG – The Board of Management

(The full interim report is available at 'www.volkswagen-ir.de' from
May 2, 2007 on)

This report contains forward-looking statements on the business
development of the Volkswagen Group. These statements are based on
assumptions relating to the development of the economies of individual
countries, and in particular of the automotive industry, which we have
made on the basis of the information available to us and which we
consider to be realistic at the time of going to press. The estimates
given entail a degree of risk, and the actual developments may differ
from those forecast.

Consequently, any unexpected fall in demand or economic stagnation in our
key sales markets, such as Western Europe (and especially Germany) or in
the USA, Brazil or China, will have a corresponding impact on the
development of our business. The same applies in the event of a
significant shift in current exchange rates relative to the US dollar,
sterling, yen, Brazilian real, Chinese renminbi and Czech koruna.

DGAP 18.04.2007

Language: English
Issuer: VOLKSWAGEN AG
Brieffach 1970
38436 Wolfsburg Deutschland
Phone: +49 (0)5361 9 - 49840
Fax: +49 (0)5361 9 - 30411
E-mail: christine.ritz@volkswagen.de
www: www.volkswagen-ir.de
ISIN: DE0007664005, DE0007664039
WKN: 766400, 766403
Indices: DAX, Euro Stoxx 50
Listed: Amtlicher Markt in Berlin-Bremen, Frankfurt (Prime Standard),
Hannover, Düsseldorf, Stuttgart, München, Hamburg,
Luxembourg, SWX; Terminbörse EUREX; Foreign Exchange(s)
London, Tokyo

End of News DGAP News-Service

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