Volkswagen AG (VOW.DE, VOW3.DE,VLKAF.PK) Friday reported a profit for the year ended December 31, 2011 of 15.41 billion euros compared to last year's 6.84 billion euros. Basic per-share earnings improved to 33.10 euros from 15.17 euros in the prior-year. The company attributed the result to the positive impact of equity-accounted investment as well as the measurement of put/call rights relating to its holding in Porsche Zwischenholding GmbH.
Sales revenues for the year were 159.34 billion euros, or 25.6 percent higher than 2010's 126.88 billion euros. Vehicle sales went up 14.9 percent to 8.4 million units, with production rising 15.5 percent to 8.5 million units.
The company's Board also proposed a hike in dividend to 3.00 euros per share from last year's 2.20 euros per share. For holders of preferred shares, the dividend is now 3.06 euros per preferred share compared to 2.26 euros per preferred share last year.
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by RTT Staff Writer
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