German auto giant Volkswagen AG's (VLKAF.PK, VKW.L) IFRS pre-tax profit in 2012 grew 34.7% to 25.5 billion euros, from 18.93 billion euros, with profit after tax advancing 38.5% to 21.88 billion euros, from 15.8 billion euros, a year before. The growth in pre-tax profit reflects clearly positive effects from the final measurement of the put/call rights relating to Porsche as of July 31, 2012 and from remeasurement at the contribution date of the shares already held, according to the company.
Profit attributable to shareholders of Volkswagen AG totaled 21.72 billion euros this year, up 40.9% from last year's 15.41 billion euros. On a per share basis, basic earnings of 46.42 euros, were higher than the year-ago period's 33.10 euros.
Annual sales revenue of 192.68 billion euros were up 20.9%, compared with 159.34 billion euros in 2011.
For 2013, Volkswagen Group's sales revenue are expected to exceed the prior-year figure. Considering the ongoing uncertainty in the economic environment, the Group's goal for operating profit is to match the last year's level in 2013.
In addition, the Board of Management and Supervisory Board proposed an increase in the dividend for Volkswagen shareholders to 3.50 euros per ordinary share and 3.56 euros per preferred share.
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