Volkswagen AG Income Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	259,777	265,887	268,156	235,383	206,237
Other Revenue	62,136	58,769	54,128	43,667	43,963
Revenue	321,913	324,656	322,284	279,050	250,200
Revenue Growth (YoY)	-0.84%	0.74%	15.49%	11.53%	12.26%
Cost of Revenue	217,773	212,850	213,698	188,729	166,840
Gross Profit	45,345	55,961	58,223	49,515	44,519
Selling, General & Admin	32,474	32,320	30,319	27,867	25,998
Other Operating Expenses	-363	2,031	3,805	-1,420	-796
Operating Expenses	32,111	34,351	34,124	26,447	25,202
Operating Income	13,234	21,610	24,099	23,068	19,317
Interest Expense	-2,309	-2,475	-3,640	-408	-1,818
Interest & Investment Income	1,824	2,419	2,658	1,325	810
Earnings From Equity Investments	1,138	526	2,236	2,287	2,232
Currency Exchange Gain (Loss)	-940	658	-507	120	526
Other Non Operating Income (Expenses)	-642	-1,902	-759	-488	-556
EBT Excluding Unusual Items	12,305	20,836	24,087	25,904	20,511
Merger & Restructuring Charges	-1,099	-2,510	-62	-	-34
Impairment of Goodwill	-2,781	-	-6	-30	-39
Gain (Loss) on Sale of Investments	1,663	-7	229	-3,115	269
Gain (Loss) on Sale of Assets	-140	-255	-306	-220	-218
Asset Writedown	-641	-1,259	-843	-190	-30
Other Unusual Items	-	-	-	-280	-333
Pretax Income	9,307	16,805	23,099	22,069	20,126
Income Tax Expense	2,403	4,411	5,237	6,217	4,698
Earnings From Continuing Operations	6,904	12,394	17,862	15,852	15,428
Minority Interest in Earnings	419	-1,043	-1,329	-395	-46
Net Income	7,323	11,351	16,533	15,457	15,382
Preferred Dividends & Other Adjustments	650	630	586	576	539
Net Income to Common	6,673	10,721	15,947	14,881	14,843
Net Income Growth	-35.49%	-31.34%	6.96%	0.49%	73.47%
Shares Outstanding (Basic)	501	501	501	501	501
Shares Outstanding (Diluted)	501	501	501	501	501
EPS (Basic)	13.31	21.39	31.81	29.69	29.61
EPS (Diluted)	13.31	21.39	31.81	29.69	29.61
EPS Growth	-37.76%	-32.77%	7.16%	0.26%	78.10%
Free Cash Flow	-290	-51	4,703	15,548	27,978
Free Cash Flow Per Share	-0.58	-0.10	9.38	31.02	55.81
Dividend Per Share	5.260	6.360	9.060	8.760	7.560
Dividend Growth	-17.30%	-29.80%	3.43%	15.87%	55.56%
Gross Margin	14.09%	17.24%	18.07%	17.74%	17.79%
Operating Margin	4.11%	6.66%	7.48%	8.27%	7.72%
Profit Margin	2.07%	3.30%	4.95%	5.33%	5.93%
Free Cash Flow Margin	-0.09%	-0.02%	1.46%	5.57%	11.18%
EBITDA	24,292	32,662	34,263	34,790	30,901
EBITDA Margin	7.55%	10.06%	10.63%	12.47%	12.35%
D&A For EBITDA	11,058	11,052	10,164	11,722	11,584
EBIT	13,234	21,610	24,099	23,068	19,317
EBIT Margin	4.11%	6.66%	7.48%	8.27%	7.72%
Effective Tax Rate	25.82%	26.25%	22.67%	28.17%	23.34%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.