Financial key performance indicators

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FINANCIAL KEY PERFORMANCE INDICATORS

%

 

2018

 

20171

 

2016

 

2015

 

2014

1

Adjusted; see disclosures about the application of new International Financial Reporting Standards.

2

Including allocation of consolidation adjustments between the Automotive and Financial Services divisions.

3

Including the Chinese joint ventures. These companies are accounted for using the equity method.

4

Operating result plus net depreciation/amortization and impairment losses/reversals of impairment losses on property, plant and equipment, capitalized development costs, lease assets, goodwill and financial assets as reported in the cash flow statement.

5

For details, see Value-based management.

6

Ratio of property, plant and equipment to total ass.

7

Ratio of inventories to total assets at the balance sheet date.

8

Ratio of sales revenue to average monthly inventories.

9

Earnings before tax as a percentage of average equity.

 

 

 

 

 

 

 

 

 

 

 

Volkswagen Group

 

 

 

 

 

 

 

 

 

 

Gross margin

 

19.7

 

19.0

 

18.9

 

15.9

 

18.0

Personnel expense ratio

 

17.5

 

17.0

 

17.0

 

17.0

 

16.7

Operating return on sales

 

5.9

 

6.0

 

3.3

 

−1.9

 

6.3

Return on sales before tax

 

6.6

 

6.0

 

3.4

 

−0.6

 

7.3

Return on sales after tax

 

5.2

 

5.0

 

2.5

 

−0.6

 

5.5

Equity ratio

 

25.6

 

25.8

 

22.7

 

23.1

 

25.7

 

 

 

 

 

 

 

 

 

 

 

Automotive Division2

 

 

 

 

 

 

 

 

 

 

Change in unit sales year-on-year3

 

+1.1

 

+3.7

 

+3.8

 

−2.0

 

+5.0

Change in sales revenue year-on-year

 

+2.7

 

+5.3

 

+1.1

 

+3.6

 

+1.4

Research and development costs as a percentage of sales revenue

 

6.8

 

6.7

 

7.3

 

7.4

 

7.4

Operating return on sales

 

5.5

 

5.7

 

2.5

 

−3.4

 

6.1

EBITDA (in € million)4

 

26,707

 

26,094

 

18,999

 

7,212

 

23,100

Return on investment (ROI)5

 

11.0

 

12.1

 

8.2

 

−0.2

 

14.9

Cash flows from operating activities as a percentage of sales revenue

 

9.2

 

6.0

 

10.9

 

12.9

 

12.2

Cash flows from investing activities attributable to operating activities as a percentage of sales revenue

 

9.4

 

9.0

 

8.6

 

8.1

 

8.7

Capex as a percentage of sales revenue

 

6.6

 

6.5

 

6.9

 

6.9

 

6.5

Net liquidity as a percentage of sales revenue

 

8.2

 

9.7

 

12.5

 

11.5

 

8.7

Ratio of noncurrent assets to total assets6

 

23.3

 

23.7

 

23.4

 

23.1

 

22.3

Ratio of current assets to total assets7

 

17.6

 

16.3

 

15.9

 

15.2

 

14.3

Inventory turnover8

 

5.0

 

5.1

 

5.5

 

5.8

 

6.2

Equity ratio

 

37.9

 

36.9

 

31.4

 

32.6

 

36.9

 

 

 

 

 

 

 

 

 

 

 

Financial Services Division

 

 

 

 

 

 

 

 

 

 

Increase in total assets

 

11.2

 

6.0

 

8.3

 

13.9

 

15.1

Return on equity before tax9

 

9.9

 

9.8

 

10.8

 

12.2

 

12.5

Equity ratio

 

12.7

 

13.7

 

12.5

 

11.9

 

11.3