MIRA INFORM
REPORT
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Report Date : |
05.08.2011 |
IDENTIFICATION DETAILS
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Name : |
Volkswagen AG |
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Registered Office : |
Berliner Ring 2, Wolfsburg, 38840 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1938 |
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Com. Reg. No.: |
100484 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Automobile Manufacturer |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Germany |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address Bottom
of Form
Volkswagen AG
Berliner Ring 2
Wolfsburg, 38840
Germany
Tel: 49-5361-90
Fax: 49-5361-928282
Web: www.volkswagenag.com/vwag/vwcorp/content/de/homepage.html
Synthesis
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Employees: |
427,184 |
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Company Type: |
Public Parent |
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Corporate Family: |
586 Companies |
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Traded: |
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Incorporation Date: |
1938 |
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Auditor: |
PricewaterhouseCoopers LLP |
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Financials in: |
USD (Millions) |
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Fiscal Year End: |
31-Dec-2010 |
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Reporting Currency: |
Euro |
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Annual Sales: |
168,028.9 1
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Net Income: |
9,053.4 |
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Total Assets: |
267,494.3 2
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Market Value: |
94,034.2 |
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(22-Jul-2011) |
Business Description
Volkswagen AG is a
Germany-based automobile manufacturer. The Company develops vehicles and
components, and also produces and sells vehicles, in particular Volkswagen
brand passenger cars and commercial vehicles. The Company consists of two
divisions: Automotive and Financial Services division. The Automotive division
is responsible for the development of vehicles and engines, the production and
sale of passenger cars, commercial vehicles, trucks and buses, and the genuine
parts business. The Financial services division’s portfolio of services
includes dealer and custom financing, leasing, banking and insurance
activities, and fleet management. The Company brands include Audi, Skoda,
Bentley, SEAT, Scania. During the year ended December 31, 2009, a total of four
million vehicles were delivered to customers worldwide. On February 20, 2009,
the Company acquired Scania AB. In December 2009, the Company acquired 49% of
Porsche Zwischenholding GmbH. For the three months ended 31 March 2011,
Volkswagen AG's total revenue increased 31% to EUR37.47B. Net income for the
period increased from EUR423M to EUR1.6B. Total revenue reflects an increase in
demand for the Company's products and services in the Automotive, Scania and
Financial Services business segments. Net income for the period benefited from
improved operating profit margins, as well as improved result in affiliated
companies.
Industry
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Industry |
Auto and Truck Manufacturers |
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ANZSIC 2006: |
231 - Motor Vehicle and Motor Vehicle Part
Manufacturing |
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NACE 2002: |
3410 - Manufacture of motor vehicles |
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NAICS 2002: |
336111 - Automobile Manufacturing |
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UK SIC 2003: |
3410 - Manufacture of motor vehicles |
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US SIC 1987: |
3711 - Motor Vehicles and Passenger Car
Bodies |
Key Executives
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Name |
Title |
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Wolfgang Dürheimer |
Chief Executive for Bentley and Bugatti |
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Alain Favey |
President - Sales - Europe |
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Hans Dieter Poetsch |
Member of the Management Board, Finance and Controlling |
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Bruce Rosen |
Director - Marketing & Communications - Canada |
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Hussain Ali Al-Abdulla |
Member of the Supervisory Board |
Significant Developments
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Topic |
#* |
Most Recent Headline |
Date |
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Regulatory |
2 |
EU To Probe German Regional Aid To Bayerische Motoren Werke AG (BMW)
And Volkswagen AG-DJ |
13-Jul-2011 |
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Mergers / Acquisitions |
11 |
Volkswagen AG Eyeing General Motors Co's Opel Unit-DJ |
21-Jul-2011 |
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Divestitures / Spin-offs |
1 |
Fiat S.p.A.'s Fiat Industrial Interested In Volkswagen AG's Truck
Operations-DJ |
11-Jan-2011 |
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Restructuring / Reorganization |
1 |
Volkswagen AG And UAW In Talks On U.S. Factory-Reuters |
12-Jul-2011 |
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Officer Changes |
1 |
Volkswagen AG's Extends CEO's Contract Until 2016-Business Standard |
3-Jan-2011 |
* number of significant developments within
the last 12 months
news
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Financial Summary
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As of 31-Mar-2011 |
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Key Ratios |
Company |
Industry |
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Current Ratio (MRQ) |
1.12 |
1.64 |
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Quick Ratio (MRQ) |
0.87 |
1.09 |
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Debt to Equity (MRQ) |
1.69 |
0.50 |
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Sales 5 Year Growth |
6.18 |
-5.43 |
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Net Profit Margin (TTM) % |
6.24 |
2.68 |
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Return on Assets (TTM) % |
4.22 |
0.82 |
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Return on Equity (TTM) % |
18.01 |
4.61 |
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FYE |
Sales |
Assets |
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12/31/2006 |
131,590.6 |
180,131.5 |
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12/31/2007 |
149,043.8 |
212,519.2 |
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12/31/2008 |
166,464.0 |
233,415.8 |
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12/31/2009 |
146,286.7 |
254,204.7 |
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12/31/2010 |
168,028.9 |
267,494.3 |
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Total Revenue USD (mil) |
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12 months ending 31-Dec-2010 |
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Stock Snapshot
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Registered No.(DEU): 100484
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
Location
Berliner Ring 2
Wolfsburg, 38840
Germany
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Tel: |
49-5361-90 |
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Fax: |
49-5361-928282 |
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http://www.volkswagenag.com/vwag/vwcorp/content/de/homepage.html
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Quote Symbol - Exchange |
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VOW - XETRA |
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Sales EUR(mil): |
126,875.0 |
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Assets EUR(mil): |
199,392.0 |
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Employees: |
427,184 |
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Fiscal Year End: |
31-Dec-2010 |
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Industry: |
Auto and Truck Manufacturers |
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Incorporation Date: |
1938 |
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Company Type: |
Public Parent |
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Quoted Status: |
Quoted |
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Registered No.(DEU): |
100484 |
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Global President - Sales |
Micheal Horn |
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Industry Codes |
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Business Description |
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Strategic Initiatives
Sales and
Distribution
It is further forecast that the sales of hybrid vehicles could reach 7.9 million in 2030. Various Automobile manufactures are involved in various research projects related to hybrid vehicles such as Chrysler, working to revamp its fleet; Ford, involved in research related to direct injection, turbo, variable valve; Volkswagen, BMW, and Mercedes among others. Toyota continues to focus on its plans to make hybrids available across its fleet; GM is strengthening its product line-up with the reintroduction of electric vehicle with its plug-in hybrid Volt; and Nissan is also leaning on electric vehicle introduction to beef up is vehicle mix market. Thus, the company is well placed to fulfill the growing demand for light Hybrid Electric technological innovations. Moreover, the company could also gain benefits in the US market, as the US government has introduced new auto investment plan in 2009, under which over a million environmentally friendly vehicles are targeted in the US by 2015.
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Strengths/Weaknesses (SWOT) |
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Helpful |
Harmful |
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Internal Origin |
Strengths |
Weaknesses |
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External Origin |
Opportunities Growth
Prospects: Emerging Markets |
Threats |
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Overview
Volkswagen AG
(Volkswagen) is one of the world’s leading automobile manufacturers and is the
largest carmaker in Europe. The company's strong international presence and
market position are its key strengths. Strategic alliances and growing demand
for fuel efficient vehicles could ensure a strong future for the company.
However, its debt and limited liquidity are areas of concern to the company.
Stricter emission standards and intense competition could also affect the
company's growth.
Strengths
Strong Financial
Performance
The company
exhibited strong financials in fiscal 2010, which provide it with strong cash
base to fuel its operational and business expansion needs. The company’s revenues
increased from € 105187.00m in 2009 to € 126875.00m in 2010. In addition, the
net income of the company increased substantially from € 960.00m in 2009 to €
6836.00m in 2010, and the operating income of the company increased from €
1855.00m in 2009 to € 7142.00m in 2010, respectively. This can be attributed to
strong performance of its business segments. As a result, operating margin of
the company increased from 1.7645 in 2009 to 5.6295 in 2010, and the return on
equity increased from 2.7215 in 2009 to 14.8685 in 2010. In addition, the
return on asset of the company increased from 0.542% in 2009 to 3.428% in 2010;
and the return on capital employed also increased from 1.7235 in 2009 to 5.8315
in 2010, respectively. This growth was also reflected in the growth ratios of
the firm as the sales growth of the company increased from -7.5755 in 2009 to
20.6195 in 2010.
Global Footprints
The company
leverages its strong geographical presence to tap the immense market potential
in the automobile domain. Volkswagen is one of the world’s leading automobile
manufacturers and is the largest carmaker in Europe. Till date, the group
maitains 62 production plants in 15 European countries and seven countries in
the Americas, Asia and Africa. Further, the company produce about 30,000
vehicles or are involved in vehicle-related services. The Volkswagen Group
sells its vehicles in 153 countries. The company operates in various regions,
which include Europe, North America, South America, South Africa, and
Asia-Pacific. Wide geographical presence helps the company mitigate the various
risks associated with overdependence on a particular market. In 2010, the group
increased the number of vehicles delivered to customers to 7.203 million, which
makes a 11.4 % share of the world passenger car market. In Western Europe 21 %
comes from the Volkswagen Group. Such a exhaustive geographical base coupled
with its strong market position provides it a competitive edge over its peers.
Strong Brand
Portfolio
Volkswagen has a
strong brand portfolio, which gives it an edge over its competitors while
attracting and retaining a loyal customer base. It offers nine major brands
which include SEAT, Bentley, Scania, Volkswagen, Audi, Skoda, Bugatti,
Volkswagen Commercial and Lamborghini. The company has approximately 198 models
under nine brands. The Audi and Skoda brands occupy a leading position in the
core European markets. The company manufactures luxury cars, convertibles and
SUVs under the Audi brand. The A4, A6, A3, Audi Q7, A5, TT Coupe, Audi Q5, A8,
A3 Cabriolet, A4 Cabriolet, TT Roadster, A6 allroad quattro and R8 models are
offered under the Audi brand. The company produces hatchback models, sedans,
luxury sedans and compact SUVs under the Skoda brand. Octavia, Fabia, Roomster,
and Superb are the models offered by the company under the Skoda brand. Under
the SEAT brand, it offers passenger cars, which include models such as the
Ibiza, the Leon, Altea/Toledo, Cordoba, Alhambra and Exeo. Under the Bentley
brand, the company offers various luxury sedans and exclusive cars under
different models including Continental GT Coupe, Continental GT Cabriolet,
Continental Flying Spur, Brooklands, Arnage and Azure. Thus, a strong brand
portfolio helps the company serve a diverse customer base.
Weaknesses
High Debt
Component
The company
reported high leveraged capital structure, which may affect its expansion and
growth plans. The company reported a substantially high debt to equity ratio of
167.4975, a net debt to equity ratio of 207.908% and a debt to capital ratio of
62.8715. this can be attributed to its high total debt component of € 77012.00m
consisting of a long term debt component of € 37159.00m. The company incurred
this debt to meet its working capital and capital expenditure needs. If it
fails to comply with any of the debt service requirements, the debt could
become due and payable prior to its scheduled maturity. Such huge debt requires
the company to dedicate a significant portion of its cash flow from operations
to service interest and principal payments. Any reduction in revenues and
operating cash flows could hinder the company’s ability to repay interest and
principal, resulting in default. Hence, such huge debt increases the financial
burden on the company, limiting the availability of cash for its growth.
Further, company's current ratio was 1.12 at the end of fiscal year 2010. This
was below the S&P 500 companies average* of 1.46. A lower than S&P 500
companies average* current ratio indicates that the company is in a weaker
financial position than other companies in the S&P 500 index.
Product Recalls
Product recalls
not only affect the brand image of the product or brand in the market but also
affects the cost structure of the firm in a large way in turn affecting the
revenue stream of the company. In 2011, Volkswagen recalled more than 12,000
Routan minivans in the US because of a defect that could allow the key to slip
while driving, causing the engine to shut down without warning. Further,
Volkswagen recalled over 413,000 cars in the US and Canada for the risk that
they could develop fuel leaks and potentially catch fire. The recall covers the
Golf, Rabbit, Jetta and Jetta Sportwagen models from the 2007 to 2009 model
years. The New Beetle from the 2006 to 2010 model years is also covered under
the recall. Golf, Rabbit and Jetta models have a plastic tab on the windshield
fluid container that could rub against a fuel line and cause a leak to develop.
These type of recalls affect the brand image of its product in the market in
turn affecting the growth prospects of the firm in the long run.
Opportunities
Strategic
Acquisitions
The company
capitalizes on growth opportunities by acquiring businesses that would help it
improve its brand name and geographical presence. Volkswagen acquired 49.9%
stake in Porsche AG Company in December 2009, and in 2011 both the companies
would merge to form a global automotive entity. This would provide the company
immense advantage as Porsche is a high profile brand and this would further
help Volkswagen improve its brand image. In 2011, Volkswagen completely
acquired the operating business of Porsche Holding Salzburg (PHS) in accordance
with previous announcements. The transfer took place at a value of €3.3 billion
on March M011. The Also, in December 2009, Suzuki Motor Corporation signed a
capital alliance with the company to establish a dominating presence especially
in the emerging markets of China and India. According to the deal, Volkswagen
would acquire 19.9% stake in Suzuki Motor Corporation. This partnership would
enable them to provide synergies in the production and development of
fuel-efficient, low-emission vehicle technologies. Earlier, in 2008, Volkswagen
entered into a number of successful joint projects. These strategic alliances
will further broaden the product portfolio and expand the company's reach into
existing and new markets, thereby increasing its revenue.
Growth Prospects:
Emerging Markets
The fast paced
growth in the emerging economies offers a huge growth potential for the company
by enabling it to leverage its strong brand and product portfolio. Despite the
global economic slowdown, growth in the East Asia and Pacific region
(especially China) as well as in South Asia (especially China & India) has
been resilient. This was mainly due to a massive fiscal stimulus package in
China and India's skillful macroeconomic management. In the year 2009, China
became the largest auto market in the world, with vehicle sales increasing 46 %
to reach 13.6 million units. China's annual automobile sales increased 46.15%
Year on Year to 13.64 million units and its automobile output rose 48.3% to
13.79 million units in 2009. Also, in 2009, automotive parts exports to China
rose 4.9 % to $937 million. Further, China’s accession to the WTO (in year
2001) allowed increased access to China’s auto market, which resulted in
explosive growth. Also, China aims to increase its total annual production
capacity of pure electric, plug-in, hybrid and other new energy vehicles to
500, 000 units by 2011. Further, despite the economic slowdown, the commercial
vehicle industry n India grew by 40.1% compared to the decline of 17.4% in
2008-09. The passenger vehicle industry, which had showed a decline of 0.5% in
the previous year, grew by 24.8% in 2009-10. It is expected that the passenger
vehicle sales will grow at a CAGR of 12% to reach 3.75 million units by 2014,
up from 1.89 million units at the end of 2008-09. This would include 1 million
units contributed from exports. Further, to make India a powerhouse in the
global automobile industry, the government launched the Automotive Mission Plan
(AMP) 2006-2012. It aims at making India a destination of choice in the world
for design and manufacture of automobiles and auto components. With an output
aimed at $145 billion, it would account for 10% of the GDP and would provide
employment to 25 million people by 2016. In the future, similar growth
prospects are expected in other BRIC (Brazil, Russia, India, and China) while developed
countries are likely to see static sales or declines. With high competition and
saturated markets most of the global automotive firms have shifted their focus
to these regions for new growth avenues. As the company offers various
automotive products and solutions across emerging markets, the company can
expect a rise in demand for its products. These growth opportunities in the
emerging markets directly correlated with the business of the company and could
provide it with further opportunities to fuel its business & revenue
growth.
Increasing Demand
for Fuel Efficient Vehicles
The company could
find increased opportunities in the area of fuel efficient vehicles, which
feature advanced technologies such as hybrids, clean diesel engines,
flexible-fuel ethanol vehicles and a turbocharged direct injection system.
According to, Energy Information Administration (US Government), the sale of
unconventional vehicles (hybrid) account for 63% of the total Light Duty
Vehicles (LDV) sales. The total sale of hybrid vehicles is estimated to
increase from 2.3% of new LDV sales in the year 2007 to 20.6%, and 39.6% by
2015 and 2030, respectively. It is further forecast that the sales of hybrid
vehicles could reach 7.9 million in 2030. Various Automobile manufactures are
involved in various research projects related to hybrid vehicles such as
Chrysler, working to revamp its fleet; Ford, involved in research related to
direct injection, turbo, variable valve; Volkswagen, BMW, and Mercedes among
others. Toyota continues to focus on its plans to make hybrids available across
its fleet; GM is strengthening its product line-up with the reintroduction of
electric vehicle with its plug-in hybrid Volt; and Nissan is also leaning on
electric vehicle introduction to beef up is vehicle mix market. Thus, the
company is well placed to fulfill the growing demand for light Hybrid Electric
technological innovations. Moreover, the company could also gain benefits in
the US market, as the US government has introduced new auto investment plan in
2009, under which over a million environmentally friendly vehicles are targeted
in the US by 2015. Thus, with the unconventional and hybrid vehicles becoming
the mainstay in the future automobile market, the company could find huge
opportunities to garner higher market share and increase its revenues.
New Partnership
Agreements
The company
entered various new partnership agreements in the recent past to fuel its
research and development initiatives and to fuel its business growth in future.
In 2011, AUDI and Voith GmbH signed a letter of intent to develop partnership
to promote industrialization of fiber-reinforced materials, particularly
through developing a highly automated process chain for high-volume automotive
production. In addition, te Volkswagen Group is expanding its activities in
Southeast Asia under its Strategy 2018 growth program. The company and DRB
Hicom signed an agreement for local vehicle assembly in Malaysia. In 2010, Audi
entered partnership with Tongji University in Shanghai to aim the domain of
electromobility. In addition, in 2010, Volkswagen AG, Argentina government
signed a cooperation agreement on training, research and development. Further,
Scania was granted €3.3m by Sweden’s Strategic Vehicle Research and Innovation
Initiative (FFI) to develop a biofuel engine intended for heavy commercial
vehicles. These new partnership initiatives not only helps the com[any to
develop its research base but also provide it with further opportunities to
fuel its future growth.
Threats
Stringent Emission
Standards
Stricter emission
standards could impact the company’s operations. After the directive adopted by
the European Union (EU) Commission and the EU Parliament to establish stringent
emission standards for passenger and light commercial vehicles in 2005 and
subsequent years through EURO 4 legislation, new directives are impending. EU
introduced a more stringent emission standard, EURO 5 in 2009, followed by the
even more stringent EURO 6 standards, which, if adopted, would be mandated by 2015.
In China, phase-wise regulations similar to the EURO series of emission
regulations have been implemented since 2005. The Step 4 regulations which
would follow the Step 3 regulations (implemented earlier in 2005) are expected
to be implemented from 2010. Similarly, in Australia, regulations equivalent
to, or more stringent than, the Euro 4, are likely to be implemented. In
addition, in the US market, the California Zero Emission Vehicle (ZEV)
regulation was adopted in 2005. The ZEV, which was earlier implemented in the
states of New York, Massachusetts and Vermont, would be extended to the state
of Maine and the state of New Jersey from 2009. Stricter emission standards
could compel the company to redesign its vehicles, increasing its compliance
costs. If the company fails to adopt appropriate measures in the stipulated
time or fails to comply with the regulations at any point of time, it could
face fines and penalties.
Growing
Counterfeit Goods Market
The market for
counterfeit goods has been on the rise across industries and is affecting the
sales as well as the image of the branded products. Counterfeiting continues to
be a major growing issue in the automotive parts industry. According to US
Federal Trade Commission counterfeiting costs the global automotive parts
industry $12 billion a year. The parts that tend to be counterfeited mostly
include brake pads, spark plugs, and various types of filters. Both the Motor
and Equipment Manufacturers Association (MEMA) and the Organization for
Economic Cooperation and Development (OECD) claim the majority of counterfeit
parts are made in China, Taiwan, Hong Kong, Russia, India, Pakistan, and
Uruguay. Counterfeiting in automotive parts not only affects the jobs
prospects, financial health of legitimate companies and increases costs related
to warranty claims, investigations, but also jeopardizes public safety,
tarnishes brand names. Thus, the company is prone to these challenges and the
counterfeit products will have a major effect on the company’s fortunes.
Intensifying
Market Competition
The intense
competition in the global automotive industry poses a threat to the company.
Due to the increasing number of new players, the overall manufacturing capacity
in the industry is exceeding the demand. The company faces intense comptetion
from various firms including Ford Motor Company, Honda Motor Co., Ltd., Mazda
Motor Corporation, Toyota Motor Corporation, Daimler AG, Bayerische Motoren
Werke Aktiengesellschaft, PSA Peugeot Citroen, Volvo Car Corporation, and
Mercedes-Benz. Such excess capacity has been forcing many industry players to
offer marketing incentives such as subsidized financing, price rebates, leasing
programs and others on the vehicles, in order to sustain and improve their
market shares. Growing competition restricts the company’s ability to increase
the prices of its products to an extent that would offset cost increases of raw
materials, or the adverse currency fluctuations in the US and the European
markets. Further, as most of the companies are eyeing the small car segment
market as the future, there is huge pressure on the company to keep up with the
competition and innovate and develop products that match customer expectations
at competitive prices. The competition is stiff in countries such as India and
China. Thus, the intense competition could have a negative impact on the
company’s profitability and market share.
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Corporate Family |
Corporate Structure News: |
|
Total Corporate Family Members: 586 |
|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Wolfsburg |
Germany |
Auto and Truck Manufacturers |
168,028.9 |
427,184 |
|
|
Subsidiary |
Ingolstadt |
Germany |
Auto and Truck Manufacturers |
46,936.9 |
59,221 |
|
|
Franchise |
Bedfordview |
South Africa |
Trucking |
7,039.3 |
35,968 |
|
|
Subsidiary |
Germiston |
South Africa |
Auto and Truck Parts |
252.7 |
1,166 |
|
|
Subsidiary |
High Wycombe |
United Kingdom |
Retail (Specialty) |
196.5 |
805 |
|
|
Subsidiary |
High Wycombe |
United Kingdom |
Nonclassifiable Industries |
0.0 |
|
|
|
Subsidiary |
Bruma |
South Africa |
Rental and Leasing |
|
750 |
|
|
Subsidiary |
Edenvale |
South Africa |
Insurance (Accident and Health) |
|
731 |
|
|
Subsidiary |
Midrand |
South Africa |
Trucking |
|
300 |
|
|
Subsidiary |
Meadowdale |
South Africa |
Rental and Leasing |
|
280 |
|
|
Subsidiary |
Chloorkop |
South Africa |
Miscellaneous Capital Goods |
30.0 |
200 |
|
|
Branch |
Windhoek |
Namibia |
Miscellaneous Transportation |
|
150 |
|
|
Subsidiary |
Germiston |
South Africa |
Trucking |
|
60 |
|
|
Subsidiary |
Isando |
South Africa |
Miscellaneous Financial Services |
|
6 |
|
|
Subsidiary |
Lanseria |
South Africa |
Airlines |
125.0 |
|
|
|
Subsidiary |
Johannesburg |
South Africa |
Insurance (Accident and Health) |
|
|
|
|
Subsidiary |
Bruxelles |
Belgium |
Auto and Truck Manufacturers |
1,387.1 |
2,143 |
|
|
Subsidiary |
Mere |
Belgium |
Construction Services |
0.0 |
1 |
|
|
Subsidiary |
Kortenberg |
Belgium |
Personal and Household Products |
0.0 |
1 |
|
|
Subsidiary |
Kontich |
Belgium |
Software and Programming |
0.0 |
|
|
|
Subsidiary |
Sant'Agata Bolognese, BO |
Italy |
Auto and Truck Manufacturers |
716.6 |
720 |
|
|
Subsidiary |
Neckarsulm, Baden-Württemberg |
Germany |
Auto and Truck Parts |
|
600 |
|
|
Subsidiary |
Ingolstadt |
Germany |
Auto and Truck Manufacturers |
83.0 |
500 |
|
|
Subsidiary |
Potsdam, Brandenburg |
Germany |
Business Services |
|
270 |
|
|
Subsidiary |
Ingolstadt, Bayern |
Germany |
Business Services |
|
210 |
|
|
Subsidiary |
Gyõr |
Hungary |
Auto and Truck Manufacturers |
5,389.1 |
5,624 |
|
|
Subsidiary |
Halle (Saale), Sachsen-Anhalt |
Germany |
Retail (Specialty) |
|
130 |
|
|
Subsidiary |
Botany, NSW |
Australia |
Retail (Specialty) |
405.0 |
80 |
|
|
Subsidiary |
Sant' Agata Bolognese, Bologna |
Italy |
Commercial Banks |
17.4 |
60 |
|
|
Subsidiary |
Sant' Agata Bolognese, Bologna |
Italy |
Miscellaneous Capital Goods |
12.4 |
7 |
|
|
Subsidiary |
Tokyo |
Japan |
Auto and Truck Manufacturers |
1.0 |
|
|
|
Subsidiary |
Tokyo |
Japan |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Dubai |
United Arab Emirates |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
São Paulo |
Brazil |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Berlin |
Germany |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Mladá Boleslav |
Czech Republic |
Auto and Truck Manufacturers |
9,866.1 |
26,153 |
|
|
Subsidiary |
Södertälje, Stockholm |
Sweden |
Auto and Truck Manufacturers |
1,655.7 |
236 |
|
|
Subsidiary |
Nykvarn |
Sweden |
Auto and Truck Parts |
22.0 |
110 |
|
|
Subsidiary |
Södertälje, Stockholm |
Sweden |
Computer Services |
5.6 |
29 |
|
|
Subsidiary |
Praha |
Czech Republic |
Consumer Financial Services |
388.1 |
230 |
|
|
Subsidiary |
Poznan |
Poland |
Auto and Truck Manufacturers |
639.3 |
100 |
|
|
Subsidiary |
Aurangabad |
India |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Vrchlabí |
Czech Republic |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Kvasiny |
Czech Republic |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Sao Carlos, Sao Paulo |
Brazil |
Auto and Truck Manufacturers |
|
22,000 |
|
|
Volkswagen
do Brasil Indústria de Veiculos Automotores Ltda. |
Subsidiary |
São Bernardo do Campo, SP |
Brazil |
Auto and Truck Manufacturers |
16,004.9 |
21,520 |
|
Subsidiary |
Salzburg |
Austria |
Auto and Truck Manufacturers |
17,004.9 |
20,859 |
|
|
Subsidiary |
Salzburg |
Austria |
Auto and Truck Parts |
484.5 |
435 |
|
|
Subsidiary |
Budapest |
Hungary |
Retail (Specialty) |
604.6 |
280 |
|
|
Subsidiary |
Voluntari, Judet Ilfov |
Romania |
Auto and Truck Manufacturers |
|
186 |
|
|
Subsidiary |
Salzburg |
Austria |
Auto and Truck Manufacturers |
290.2 |
40 |
|
|
Subsidiary |
Salzburg |
Austria |
Auto and Truck Manufacturers |
202.5 |
30 |
|
|
Subsidiary |
Sofia |
Bulgaria |
Auto and Truck Manufacturers |
10.7 |
24 |
|
|
Subsidiary |
Sofia |
Bulgaria |
Insurance (Accident and Health) |
2.0 |
6 |
|
|
Subsidiary |
Salzburg |
Austria |
Miscellaneous Financial Services |
|
|
|
|
Subsidiary |
Salzburg |
Austria |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
São Bernado do Campo |
Brazil |
Auto and Truck Manufacturers |
|
16,000 |
|
|
Subsidiary |
Wolfsburg, Niedersachsen |
Germany |
Business Services |
|
11,500 |
|
|
A-Vision -
Prestação De Serviços À Indústria Automóvel, Unipessoal, LDA |
Subsidiary |
Quinta Do Anjo |
Portugal |
Business Services |
12.2 |
278 |
|
Subsidiary |
Berlin, Berlin |
Germany |
Software and Programming |
35.6 |
206 |
|
|
Subsidiary |
Hannover, Niedersachsen |
Germany |
Auto and Truck Parts |
72.7 |
110 |
|
|
Subsidiary |
Potsdam, Brandenburg |
Germany |
Engineering Consultants |
|
81 |
|
|
Subsidiary |
Wolfsburg, Niedersachsen |
Germany |
Furniture and Fixtures |
16.1 |
60 |
|
|
Subsidiary |
Martorell, Barcelona |
Spain |
Auto and Truck Manufacturers |
5,620.4 |
10,549 |
|
|
Subsidiary |
El Prat De Llobregat, Barcelona |
Spain |
Auto and Truck Parts |
310.0 |
1,071 |
|
|
Subsidiary |
Martorell, Barcelona |
Spain |
Biotechnology and Drugs |
196.6 |
955 |
|
|
Subsidiary |
Barcelona |
Spain |
Retail (Specialty) |
248.4 |
502 |
|
|
Subsidiary |
El Prat De Llobregat, Barcelona |
Spain |
Auto and Truck Manufacturers |
6,305.0 |
361 |
|
|
Subsidiary |
Madrid |
Spain |
Auto and Truck Manufacturers |
149.0 |
216 |
|
|
Subsidiary |
Sevilla |
Spain |
Auto and Truck Manufacturers |
116.4 |
195 |
|
|
Subsidiary |
Leioa, Vizcaya |
Spain |
Auto and Truck Manufacturers |
87.0 |
183 |
|
|
Subsidiary |
Barcelona |
Spain |
Auto and Truck Manufacturers |
61.8 |
75 |
|
|
Subsidiary |
Mörfelden-Walldorf |
Germany |
Auto and Truck Manufacturers |
1,137.6 |
150 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Retail (Specialty) |
86.2 |
94 |
|
|
Subsidiary |
Madrid |
Spain |
Auto and Truck Manufacturers |
57.5 |
100 |
|
|
Subsidiary |
Abrera, Barcelona |
Spain |
Auto and Truck Manufacturers |
31.7 |
92 |
|
|
Subsidiary |
Leioa, Vizcaya |
Spain |
Retail (Specialty) |
25.8 |
49 |
|
|
Subsidiary |
Gijon, Asturias |
Spain |
Retail (Specialty) |
16.1 |
44 |
|
|
Subsidiary |
Verona |
Italy |
Auto and Truck Parts |
250.0 |
|
|
|
Subsidiary |
Zwickau, Sachsen |
Germany |
Auto and Truck Parts |
3,750.0 |
7,300 |
|
|
Joint Venture |
Changchun, Jilin Province |
China |
Auto and Truck Manufacturers |
1,000.0 |
7,000 |
|
|
Subsidiary |
Chengdu City, Si Chuan |
China |
Auto and Truck Manufacturers |
18.7 |
2 |
|
|
Subsidiary |
Bratislava |
Slovakia |
Auto and Truck Manufacturers |
4,088.7 |
6,500 |
|
|
Subsidiary |
Poznan |
Poland |
Auto and Truck Manufacturers |
2,576.3 |
6,135 |
|
|
Joint Venture |
Almere |
Netherlands |
Rental and Leasing |
|
6,000 |
|
|
Subsidiary |
Roma, RM |
Italy |
Rental and Leasing |
710.1 |
500 |
|
|
Subsidiary |
Alcobendas, Madrid |
Spain |
Rental and Leasing |
472.0 |
460 |
|
|
Subsidiary |
Roma, Roma (Rome) |
Italy |
Business Services |
710.0 |
444 |
|
|
Subsidiary |
Melbourne, VIC |
Australia |
Consumer Financial Services |
777.7 |
374 |
|
|
Subsidiary |
Rueil Malmaison |
France |
Rental and Leasing |
|
374 |
|
|
Subsidiary |
Rueil Malmaison |
France |
Miscellaneous Financial Services |
3.0 |
34 |
|
|
Subsidiary |
Rueil Malmaison |
France |
Investment Services |
|
34 |
|
|
Subsidiary |
Rueil Malmaison |
France |
Rental and Leasing |
4.4 |
10 |
|
|
Subsidiary |
Rueil Malmaison |
France |
Miscellaneous Transportation |
14.3 |
|
|
|
Subsidiary |
Gouda |
Netherlands |
Business Services |
|
350 |
|
|
Subsidiary |
Neuss |
Germany |
Rental and Leasing |
1,405.6 |
320 |
|
|
Subsidiary |
Neuss, Nordrhein-Westfalen |
Germany |
Consumer Financial Services |
|
320 |
|
|
Subsidiary |
Neuss, Nordrhein-Westfalen |
Germany |
Rental and Leasing |
|
16 |
|
|
Subsidiary |
Alpharetta, GA |
United States |
Rental and Leasing |
|
250 |
|
|
Lease Plan
Portugal - Comércio E Aluguer De Automóveis E Equipamentos, Unipessoal, LDA |
Subsidiary |
Porto Salvo |
Portugal |
Rental and Leasing |
184.7 |
245 |
|
Subsidiary |
Porto Salvo |
Portugal |
Investment Services |
|
21 |
|
|
LeasePlan
Portugal - Comércio e Aluguer de Automóveis e Equipamentos Unipessoal Lda |
Subsidiary |
Porto Salvo, Lisboa |
Portugal |
Rental and Leasing |
172.3 |
220 |
|
Subsidiary |
Amadora |
Portugal |
Rental and Leasing |
76.5 |
60 |
|
|
Subsidiary |
Lisboa |
Portugal |
Rental and Leasing |
|
200 |
|
|
Subsidiary |
Rolling Meadows, IL |
United States |
Rental and Leasing |
15.0 |
150 |
|
|
Subsidiary |
Oslo |
Norway |
Rental and Leasing |
218.8 |
100 |
|
|
Subsidiary |
Wien, Wien |
Austria |
Rental and Leasing |
203.4 |
100 |
|
|
Subsidiary |
Dublin |
Ireland |
Computer Services |
41.5 |
97 |
|
|
Subsidiary |
Neuss |
Germany |
Nonclassifiable Industries |
1,301.7 |
85 |
|
|
Subsidiary |
Solna, Stockholm |
Sweden |
Business Services |
119.6 |
82 |
|
|
Subsidiary |
Urdorf, Zurich |
Switzerland |
Business Services |
|
75 |
|
|
Subsidiary |
Rueil Malmaison |
France |
Business Services |
|
74 |
|
|
Subsidiary |
Brøndby |
Denmark |
Rental and Leasing |
|
67 |
|
|
Subsidiary |
Budapest |
Hungary |
Auto and Truck Manufacturers |
60.0 |
60 |
|
|
Subsidiary |
Wellington |
New Zealand |
Consumer Financial Services |
5.6 |
60 |
|
|
Subsidiary |
Espoo |
Finland |
Business Services |
16.5 |
50 |
|
|
Subsidiary |
Leudelange |
Luxembourg |
Rental and Leasing |
|
50 |
|
|
Subsidiary |
Littlehampton |
United Kingdom |
Rental and Leasing |
|
43 |
|
|
Subsidiary |
Genova, Genova (Genoa) |
Italy |
Rental and Leasing |
72.0 |
25 |
|
|
Subsidiary |
Almere, Flevoland |
Netherlands |
Miscellaneous Financial Services |
|
18 |
|
|
Subsidiary |
Neuss |
Germany |
Rental and Leasing |
1,052.2 |
|
|
|
Subsidiary |
Dublin |
Ireland |
Investment Services |
3.1 |
|
|
|
Subsidiary |
Dublin |
Ireland |
Rental and Leasing |
64.2 |
52 |
|
|
Subsidiary |
Dublin |
Ireland |
Insurance (Accident and Health) |
269.7 |
38 |
|
|
Subsidiary |
Dublin |
Ireland |
Consumer Financial Services |
231.1 |
12 |
|
|
Subsidiary |
Slough |
United Kingdom |
Business Services |
|
|
|
|
Subsidiary |
Slough |
United Kingdom |
Rental and Leasing |
1,133.7 |
589 |
|
|
Subsidiary |
Slough |
United Kingdom |
Business Services |
1.4 |
|
|
|
Subsidiary |
Slough |
United Kingdom |
Rental and Leasing |
|
|
|
|
Subsidiary |
Slough |
United Kingdom |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Slough |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Slough |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Haryana |
India |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Almere, Flevoland |
Netherlands |
Miscellaneous Financial Services |
|
|
|
|
Lease Beheer N.V. |
Subsidiary |
|
|
|
|
|
|
Subsidiary |
Almere-Stad |
Netherlands |
Rental and Leasing |
875.0 |
|
|
|
Subsidiary |
Zaventem |
Belgium |
Rental and Leasing |
510.4 |
245 |
|
|
Subsidiary |
Reuil-Malmaison |
France |
Rental and Leasing |
250.0 |
|
|
|
Subsidiary |
General Pacheco, Buenos Aires |
Argentina |
Auto and Truck Manufacturers |
2,056.8 |
5,663 |
|
|
Subsidiary |
Uitenhage |
South Africa |
Auto and Truck Manufacturers |
1,000.0 |
5,100 |
|
|
Subsidiary |
Braunschweig, Niedersachsen |
Germany |
Commercial Banks |
|
5,055 |
|
|
Subsidiary |
Braunschweig, Niedersachsen |
Germany |
Commercial Banks |
|
620 |
|
|
Branch |
Milano |
Italy |
Miscellaneous Financial Services |
|
80 |
|
|
Subsidiary |
Milton Keynes |
United Kingdom |
Miscellaneous Financial Services |
655.8 |
347 |
|
|
Subsidiary |
Milton Keynes |
United Kingdom |
Rental and Leasing |
|
|
|
|
Subsidiary |
Milton Keynes |
United Kingdom |
Miscellaneous Financial Services |
|
|
|
|
Subsidiary |
Milton Keynes |
United Kingdom |
Miscellaneous Financial Services |
|
|
|
|
Subsidiary |
Alcobendas |
Spain |
Consumer Financial Services |
|
200 |
|
|
Subsidiary |
Boadilla Del Monte, Madrid |
Spain |
Rental and Leasing |
52.3 |
|
|
|
Subsidiary |
Wien, Wien |
Austria |
Consumer Financial Services |
24.0 |
110 |
|
|
Subsidiary |
Braunschweig, Niedersachsen |
Germany |
Commercial Banks |
6.4 |
100 |
|
|
Subsidiary |
Södertälje, Stockholm |
Sweden |
Consumer Financial Services |
230.5 |
73 |
|
|
Subsidiary |
Braunschweig |
Germany |
Rental and Leasing |
11,347.0 |
55 |
|
|
Subsidiary |
Cuautlancingo, Puebla |
Mexico |
Consumer Financial Services |
|
255 |
|
|
Subsidiary |
Botany, NSW |
Australia |
Consumer Financial Services |
1.7 |
15 |
|
|
Subsidiary |
Amsterdam, Noord-Holland |
Netherlands |
Consumer Financial Services |
|
7 |
|
|
Volim
Volkswagen Immobilien Vermietgesellschaft für VW-/Audi-Händlerbetriebe mit
beschränkte |
Subsidiary |
Braunschweig, Niedersachsen |
Germany |
Real Estate Operations |
12.3 |
3 |
|
Subsidiary |
Wolfsburg, Niedersachsen |
Germany |
Commercial Banks |
79.2 |
1,080 |
|
|
Subsidiary |
Wolfsburg, Niedersachsen |
Germany |
Computer Services |
|
185 |
|
|
Subsidiary |
Wolfsburg, Niedersachsen |
Germany |
Rental and Leasing |
|
23 |
|
|
Subsidiary |
Gifhorn |
Germany |
Software and Programming |
29.5 |
460 |
|
|
Volkswagen-Versicherungsdienst
Gesellschaft mit beschränkter Haftung |
Subsidiary |
Braunschweig, Niedersachsen |
Germany |
Investment Services |
171.2 |
2 |
|
Subsidiary |
Wallisellen |
Switzerland |
Investment Services |
1.0 |
|
|
|
Subsidiary |
Bratislava |
Slovakia |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Taipei |
Taiwan |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Auckland |
New Zealand |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Istanbul |
Turkey |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Moscow |
Russian Federation |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Braunschweig, Niedersachsen |
Germany |
Insurance (Accident and Health) |
|
|
|
|
Subsidiary |
Chaoyang District, Beijing |
China |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Cuautlancingo |
Mexico |
Miscellaneous Financial Services |
|
|
|
|
Subsidiary |
Amersfoort, Utrecht |
Netherlands |
Investment Services |
|
|
|
|
Subsidiary |
Istanbul |
Turkey |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Warsaw |
Poland |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Villers Cotterets |
France |
Business Services |
|
|
|
|
Subsidiary |
Amsterdam, Noord-Holland |
Netherlands |
Miscellaneous Financial Services |
|
|
|
|
Subsidiary |
Olza, Navarra |
Spain |
Auto and Truck Manufacturers |
2,921.3 |
4,579 |
|
|
Subsidiary |
Crewe |
United Kingdom |
Auto and Truck Manufacturers |
731.9 |
3,424 |
|
|
Subsidiary |
Crewe |
United Kingdom |
Insurance (Accident and Health) |
|
3,000 |
|
|
Subsidiary |
Boston, MA |
United States |
Auto and Truck Manufacturers |
|
40 |
|
|
Subsidiary |
Crewe |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Crewe |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Crewe |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Crewe |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Lausanne |
Switzerland |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Baunatal, Hessen |
Germany |
Retail (Specialty) |
2,814.0 |
3,300 |
|
|
Subsidiary |
Würzburg, Bayern |
Germany |
Personal Services |
|
210 |
|
|
Subsidiary |
Wolfsburg, Niedersachsen |
Germany |
Personal Services |
|
2,800 |
|
|
Subsidiary |
Wolfsburg, Niedersachsen |
Germany |
Auto and Truck Parts |
1,126.8 |
1,750 |
|
|
Subsidiary |
Polkowice |
Poland |
Auto and Truck Parts |
|
|
|
|
Subsidiary |
Stockholm |
Sweden |
Retail (Specialty) |
1,059.0 |
1,386 |
|
|
Subsidiary |
Polkowice |
Poland |
Auto and Truck Parts |
1,428.8 |
1,137 |
|
|
Subsidiary |
Chaoyang District, Beijing |
China |
Auto and Truck Manufacturers |
150.0 |
1,000 |
|
|
Subsidiary |
São Paulo |
Brazil |
Consumer Financial Services |
|
1,000 |
|
|
Subsidiary |
Södertälje |
Sweden |
Real Estate Operations |
380.4 |
930 |
|
|
Subsidiary |
Södertälje |
Sweden |
Business Services |
|
|
|
|
Subsidiary |
Verona, VR |
Italy |
Retail (Specialty) |
6,360.9 |
917 |
|
|
Subsidiary |
Wolfsburg, Niedersachsen |
Germany |
Miscellaneous Financial Services |
150.2 |
850 |
|
|
Subsidiary |
Herndon, VA |
United States |
Auto and Truck Manufacturers |
10,000.0 |
800 |
|
|
Branch |
Langhorne, PA |
United States |
Retail (Specialty) |
81.6 |
95 |
|
|
Branch |
Pasadena, CA |
United States |
Retail (Specialty) |
64.4 |
75 |
|
|
Branch |
Richardson, TX |
United States |
Retail (Specialty) |
51.5 |
60 |
|
|
Branch |
Charlotte, NC |
United States |
Retail (Specialty) |
43.0 |
50 |
|
|
Branch |
Houston, TX |
United States |
Retail (Specialty) |
43.0 |
50 |
|
|
Branch |
Oakland, CA |
United States |
Business Services |
5.8 |
50 |
|
|
Branch |
Huntsville, AL |
United States |
Retail (Specialty) |
34.4 |
40 |
|
|
Branch |
Bradenton, FL |
United States |
Retail (Specialty) |
34.4 |
40 |
|
|
Branch |
Houston, TX |
United States |
Retail (Specialty) |
21.5 |
25 |
|
|
Subsidiary |
Villers Cotterets |
France |
Auto and Truck Manufacturers |
7,155.5 |
749 |
|
|
Subsidiary |
Paris |
France |
Retail (Specialty) |
82.6 |
74 |
|
|
Subsidiary |
Nice |
France |
Retail (Specialty) |
80.6 |
74 |
|
|
Subsidiary |
Nice |
France |
Retail (Specialty) |
|
74 |
|
|
Subsidiary |
Mougins |
France |
Retail (Specialty) |
81.4 |
34 |
|
|
Subsidiary |
Jaux |
France |
Retail (Specialty) |
40.5 |
|
|
|
Subsidiary |
Villers Cotterets |
France |
Retail (Specialty) |
8.0 |
|
|
|
Subsidiary |
Paris |
France |
Business Services |
|
|
|
|
Subsidiary |
Moncalieri, Torino (Turin) |
Italy |
Engineering Consultants |
106.5 |
635 |
|
|
Subsidiary |
Nichelino, Torino (Turin) |
Italy |
Miscellaneous Fabricated Products |
16.1 |
62 |
|
|
Subsidiary |
Södertalje |
Sweden |
Auto and Truck Manufacturers |
513.0 |
571 |
|
|
Subsidiary |
Milton Keynes |
United Kingdom |
Retail (Specialty) |
719.5 |
1,439 |
|
|
Subsidiary |
West Bromwich |
United Kingdom |
Retail (Specialty) |
110.1 |
428 |
|
|
Subsidiary |
Burton On Trent |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Scania (Great Britain) Ltd. |
Subsidiary |
Renfrew |
United Kingdom |
Auto and Truck Manufacturers |
75.0 |
30 |
|
Subsidiary |
Exeter |
United Kingdom |
Retail (Specialty) |
|
30 |
|
|
Subsidiary |
Milton Keynes |
United Kingdom |
Retail (Specialty) |
|
|
|
|
Subsidiary |
Purfleet |
United Kingdom |
Retail (Specialty) |
|
|
|
|
Subsidiary |
Milton Keynes |
United Kingdom |
Retail (Specialty) |
|
|
|
|
Subsidiary |
Hull |
United Kingdom |
Retail (Specialty) |
|
|
|
|
Subsidiary |
Milton Keynes |
United Kingdom |
Retail (Specialty) |
|
|
|
|
Subsidiary |
Milton Keynes |
United Kingdom |
Real Estate Operations |
|
|
|
|
Subsidiary |
Oslo |
Norway |
Auto and Truck Manufacturers |
414.9 |
850 |
|
|
Subsidiary |
Angers |
France |
Auto and Truck Manufacturers |
468.1 |
749 |
|
|
Subsidiary |
Koblenz |
Germany |
Auto and Truck Manufacturers |
1.0 |
720 |
|
|
Subsidiary |
Koblenz, Rheinland-Pfalz |
Germany |
Retail (Specialty) |
|
110 |
|
|
Subsidiary |
Kerpen, Nordrhein-Westfalen |
Germany |
Retail (Specialty) |
|
100 |
|
|
Subsidiary |
Södertälje, Stockholm |
Sweden |
Auto and Truck Manufacturers |
513.0 |
571 |
|
|
Subsidiary |
Södertälje, Stockholm |
Sweden |
Business Services |
121.8 |
552 |
|
|
Subsidiary |
Helsinki |
Finland |
Auto and Truck Manufacturers |
301.0 |
532 |
|
|
Subsidiary |
Helsinki |
Finland |
Retail (Specialty) |
33.5 |
39 |
|
|
Subsidiary |
Herlev |
Denmark |
Auto and Truck Manufacturers |
|
515 |
|
|
Subsidiary |
Sæby |
Denmark |
Retail (Specialty) |
56.0 |
246 |
|
|
Subsidiary |
Nadarzyn |
Poland |
Auto and Truck Manufacturers |
180.0 |
480 |
|
|
Subsidiary |
Bruxelles |
Belgium |
Auto and Truck Manufacturers |
219.1 |
466 |
|
|
Subsidiary |
Herlev |
Denmark |
Auto and Truck Parts |
231.1 |
448 |
|
|
Subsidiary |
Brunn am Gebirge |
Austria |
Auto and Truck Manufacturers |
207.2 |
415 |
|
|
Subsidiary |
Ecouflant |
France |
Auto and Truck Manufacturers |
42.6 |
374 |
|
|
Subsidiary |
Kloten |
Switzerland |
Auto and Truck Manufacturers |
205.7 |
350 |
|
|
Subsidiary |
Vernier |
Switzerland |
Business Services |
32.2 |
40 |
|
|
Subsidiary |
Aeroton |
South Africa |
Auto and Truck Manufacturers |
60.0 |
350 |
|
|
Subsidiary |
Windhoek |
Namibia |
Auto and Truck Manufacturers |
|
50 |
|
|
Scania-Rus
LLC - General Importer & Distributor of Scania CV AB in Russia |
Subsidiary |
Moscow |
Russian Federation |
Auto and Truck Manufacturers |
|
320 |
|
Subsidiary |
El Marqués, Queretaro |
Mexico |
Auto and Truck Manufacturers |
|
300 |
|
|
Subsidiary |
Campbellfield, VIC |
Australia |
Auto and Truck Manufacturers |
233.5 |
280 |
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Miscellaneous Transportation |
142.7 |
200 |
|
|
Subsidiary |
Biatorbágy |
Hungary |
Auto and Truck Manufacturers |
|
170 |
|
|
Subsidiary |
San Fernando De Henares, Madrid |
Spain |
Auto and Truck Manufacturers |
242.0 |
160 |
|
|
Subsidiary |
San Fernando De Henares, Madrid |
Spain |
Retail (Specialty) |
14.1 |
38 |
|
|
Subsidiary |
San Fernando De Henares, Madrid |
Spain |
Rental and Leasing |
19.5 |
8 |
|
|
Subsidiary |
Lima |
Peru |
Auto and Truck Manufacturers |
30.0 |
120 |
|
|
Subsidiary |
Riga |
Latvia |
Auto and Truck Manufacturers |
25.0 |
106 |
|
|
Subsidiary |
Samutprakarn, Bangkok |
Thailand |
Auto and Truck Manufacturers |
8.0 |
100 |
|
|
Subsidiary |
Cotia, Sao Paulo |
Brazil |
Auto and Truck Manufacturers |
|
88 |
|
|
Subsidiary |
Ilfov |
Romania |
Auto and Truck Manufacturers |
60.1 |
85 |
|
|
Subsidiary |
Trento, Trento |
Italy |
Retail (Specialty) |
55.1 |
77 |
|
|
Subsidiary |
Kloten, Zurich |
Switzerland |
Consumer Financial Services |
|
75 |
|
|
Subsidiary |
Santiago |
Chile |
Miscellaneous Capital Goods |
|
70 |
|
|
Subsidiary |
Södertälje, Stockholm |
Sweden |
Auto and Truck Manufacturers |
233.2 |
68 |
|
|
Subsidiary |
Södertälje, Stockholm |
Sweden |
Consumer Financial Services |
136.3 |
38 |
|
|
Subsidiary |
Koblenz, Rheinland-Pfalz |
Germany |
Consumer Financial Services |
|
35 |
|
|
Subsidiary |
Angers |
France |
Miscellaneous Financial Services |
112.0 |
34 |
|
|
Subsidiary |
Sarajevo |
Bosnia and Herzegovina |
Auto and Truck Manufacturers |
|
30 |
|
|
Subsidiary |
Milano, Milano (Milan) |
Italy |
Miscellaneous Financial Services |
|
29 |
|
|
Subsidiary |
Milton Keynes |
United Kingdom |
Miscellaneous Financial Services |
79.9 |
25 |
|
|
Subsidiary |
Södertälje, Stockholm |
Sweden |
Consumer Financial Services |
20.4 |
25 |
|
|
Subsidiary |
Bruxelles |
Belgium |
Consumer Financial Services |
24.6 |
17 |
|
|
Subsidiary |
Delta, BC |
Canada |
Miscellaneous Capital Goods |
9.0 |
13 |
|
|
Subsidiary |
Södertälje, Stockholm |
Sweden |
Miscellaneous Financial Services |
0.8 |
13 |
|
|
Subsidiary |
Zwolle |
Netherlands |
Auto and Truck Manufacturers |
1,750.0 |
|
|
|
Subsidiary |
den Haag |
Netherlands |
Retail (Specialty) |
450.0 |
|
|
|
Subsidiary |
Shah Alam, Selangor |
Malaysia |
Auto and Truck Manufacturers |
62.6 |
|
|
|
Subsidiary |
Zwolle |
Netherlands |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Sofia |
Bulgaria |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Rudná u Prahy |
Czech Republic |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Tallinn |
Estonia |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Zagreb |
Croatia |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Vilnius |
Lithuania |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Bratislava |
Slovakia |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Dar es Salaam |
Tanzania |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Södertälje |
Sweden |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Golitsino |
Russian Federation |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Ponteareas |
Spain |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Madrid |
Spain |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Rümlingen |
Switzerland |
Business Services |
|
|
|
|
Subsidiary |
Beograd |
Serbia |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Ljubljana |
Slovenia |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Brunn |
Austria |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Istanbul |
Turkey |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Moscow |
Russian Federation |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Gauteng |
South Africa |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Stara Wies |
Poland |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Breda |
Netherlands |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Münsbach |
Luxembourg |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Biatorbágy |
Hungary |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Rudná u Prahy |
Czech Republic |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Quilicura |
Chile |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Valencia |
Venezuela |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Almaty region |
Kazakhstan |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Gaborone |
Botswana |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Opglabbeek |
Belgium |
Retail (Specialty) |
|
|
|
|
Subsidiary |
Saint-Petersburg |
Russian Federation |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Slupsk |
Poland |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Meppel |
Netherlands |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Sodertalje |
Sweden |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Beijing |
China |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Trento |
Italy |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Luleå, Norrbotten |
Sweden |
Auto and Truck Parts |
67.2 |
562 |
|
|
Subsidiary |
Milton Keynes |
United Kingdom |
Retail (Specialty) |
8,974.8 |
538 |
|
|
Volkswagen
Group Insurance And Risk Management Services (Uk) Ltd. |
Subsidiary |
Milton Keynes |
United Kingdom |
Business Services |
|
|
|
Subsidiary |
Crewe |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Milton Keynes |
United Kingdom |
Business Services |
|
|
|
|
Subsidiary |
Chemnitz, Sachsen |
Germany |
Business Services |
51.8 |
400 |
|
|
Subsidiary |
Dresden, Sachsen |
Germany |
Auto and Truck Parts |
|
400 |
|
|
Subsidiary |
Moscow |
Russian Federation |
Auto and Truck Manufacturers |
117.0 |
335 |
|
|
Subsidiary |
Wolfsburg, Niedersachsen |
Germany |
Recreational Activities |
158.5 |
250 |
|
|
Subsidiary |
Wolfsburg, Niedersachsen |
Germany |
Construction Services |
23.2 |
241 |
|
|
Subsidiary |
Södertälje |
Sweden |
Auto and Truck Manufacturers |
1,655.7 |
236 |
|
|
Subsidiary |
Stockholm |
Sweden |
Rental and Leasing |
58.6 |
114 |
|
|
Subsidiary |
Dreieich |
Germany |
Auto and Truck Parts |
445.0 |
220 |
|
|
Subsidiary |
Dreieich |
Germany |
Auto and Truck Parts |
495.7 |
200 |
|
|
Subsidiary |
Guyancourt |
France |
Rental and Leasing |
107.1 |
200 |
|
|
Subsidiary |
Guyancourt |
France |
Rental and Leasing |
500.1 |
1,499 |
|
|
Subsidiary |
Rouen |
France |
Rental and Leasing |
|
|
|
|
Subsidiary |
Madrid |
Spain |
Rental and Leasing |
265.7 |
973 |
|
|
Subsidiary |
Darlington |
United Kingdom |
Rental and Leasing |
179.8 |
746 |
|
|
Subsidiary |
Leicester |
United Kingdom |
Rental and Leasing |
|
|
|
|
Subsidiary |
Leicester |
United Kingdom |
Rental and Leasing |
|
|
|
|
Subsidiary |
Leicester |
United Kingdom |
Rental and Leasing |
|
|
|
|
Subsidiary |
Leicester |
United Kingdom |
Commercial Banks |
|
|
|
|
Subsidiary |
Leicester |
United Kingdom |
Commercial Banks |
|
|
|
|
Subsidiary |
Leicester |
United Kingdom |
Rental and Leasing |
310.5 |
2,756 |
|
|
Subsidiary |
Leicester |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Leicester |
United Kingdom |
Rental and Leasing |
17.6 |
84 |
|
|
Subsidiary |
Leicester |
United Kingdom |
Business Services |
0.7 |
3 |
|
|
Subsidiary |
Leicester |
United Kingdom |
Commercial Banks |
|
2 |
|
|
Subsidiary |
Leicester |
United Kingdom |
Commercial Banks |
|
|
|
|
Subsidiary |
Leicester |
United Kingdom |
Commercial Banks |
|
|
|
|
Subsidiary |
Leicester |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Leicester |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Franchise |
Warsaw |
Poland |
Auto and Truck Manufacturers |
|
100 |
|
|
Subsidiary |
Zaventem |
Belgium |
Rental and Leasing |
|
75 |
|
|
Subsidiary |
Metamorfosi, Athens |
Greece |
Miscellaneous Transportation |
14.0 |
65 |
|
|
Subsidiary |
Abbeville |
France |
Rental and Leasing |
|
3 |
|
|
Subsidiary |
Fiumicino |
Italy |
Rental and Leasing |
1.0 |
|
|
|
Subsidiary |
Guyancourt |
France |
Rental and Leasing |
|
|
|
|
Subsidiary |
Roma, Roma (Rome) |
Italy |
Rental and Leasing |
312.0 |
390 |
|
|
Subsidiary |
Lisboa |
Portugal |
Rental and Leasing |
90.6 |
240 |
|
|
Subsidiary |
Sydney, NSW |
Australia |
Miscellaneous Transportation |
|
|
|
|
Subsidiary |
Ajax, ON |
Canada |
Retail (Specialty) |
|
200 |
|
|
Fahrzeugteile
Service-Zentrum Mellendorf Gesellschaft mit beschränkter Haftung |
Subsidiary |
Wedemark, Niedersachsen |
Germany |
Retail (Specialty) |
|
200 |
|
Subsidiary |
Firenze, Firenze (Florence) |
Italy |
Retail (Specialty) |
|
182 |
|
|
Subsidiary |
Langenhagen, Niedersachsen |
Germany |
Retail (Specialty) |
|
150 |
|
|
Subsidiary |
Barcelona |
Spain |
Auto and Truck Manufacturers |
96.7 |
132 |
|
|
Subsidiary |
Praha |
Czech Republic |
Auto and Truck Manufacturers |
607.9 |
126 |
|
|
Subsidiary |
Madrid |
Spain |
Auto and Truck Manufacturers |
103.6 |
121 |
|
|
Subsidiary |
Dublin |
Ireland |
Auto and Truck Manufacturers |
748.9 |
116 |
|
|
Subsidiary |
Valencia |
Spain |
Auto and Truck Manufacturers |
67.4 |
104 |
|
|
Subsidiary |
Oviedo, Asturias |
Spain |
Auto and Truck Manufacturers |
63.6 |
103 |
|
|
Subsidiary |
Zwickau |
Germany |
Business Services |
1.0 |
103 |
|
|
Subsidiary |
São Paulo , São Paulo |
Brazil |
Insurance (Accident and Health) |
|
100 |
|
|
Subsidiary |
Södertälje, Stockholm |
Sweden |
Engineering Consultants |
11.5 |
92 |
|
|
Subsidiary |
Botany, NSW |
Australia |
Retail (Specialty) |
35.0 |
80 |
|
|
Subsidiary |
Valladolid |
Spain |
Auto and Truck Manufacturers |
55.8 |
78 |
|
|
Subsidiary |
Malaga |
Spain |
Auto and Truck Manufacturers |
46.3 |
71 |
|
|
Subsidiary |
São Paulo |
Brazil |
Consumer Financial Services |
|
70 |
|
|
Subsidiary |
Wolfsburg, Niedersachsen |
Germany |
Miscellaneous Financial Services |
176.1 |
60 |
|
|
Subsidiary |
Wolfsburg, Niedersachsen |
Germany |
Schools |
|
65 |
|
|
Subsidiary |
Wolfsburg |
Germany |
Business Services |
|
|
|
|
Subsidiary |
Singapore |
Singapore |
Auto and Truck Manufacturers |
12.0 |
60 |
|
|
Subsidiary |
Molsheim |
France |
Auto and Truck Manufacturers |
107.4 |
59 |
|
|
Subsidiary |
Bruxelles |
Belgium |
Commercial Banks |
42.7 |
50 |
|
|
Subsidiary |
Setúbal |
Portugal |
Retail (Specialty) |
29.9 |
38 |
|
|
Subsidiary |
Lisboa |
Portugal |
Auto and Truck Manufacturers |
171.7 |
35 |
|
|
Subsidiary |
Paris |
France |
Retail (Specialty) |
18.7 |
34 |
|
|
Subsidiary |
Bremen, Bremen |
Germany |
Commercial Banks |
|
30 |
|
|
MMI
Marketing Management Institut Gesellschaft mit beschränkter Haftung |
Subsidiary |
Braunschweig, Niedersachsen |
Germany |
Schools |
|
21 |
|
Subsidiary |
Linköping, Östergötland |
Sweden |
Auto and Truck Manufacturers |
5.5 |
18 |
|
|
Subsidiary |
Dubai |
United Arab Emirates |
Auto and Truck Manufacturers |
5.0 |
12 |
|
|
Subsidiary |
Amsterdam, Noord-Holland |
Netherlands |
Consumer Financial Services |
|
8 |
|
|
Subsidiary |
Quinta do Anjo |
Portugal |
Auto and Truck Manufacturers |
1,807.2 |
3,135 |
|
|
Subsidiary |
Botany, NSW |
Australia |
Auto and Truck Manufacturers |
2.0 |
5 |
|
|
Subsidiary |
Wolfsburg, Niedersachsen |
Germany |
Miscellaneous Financial Services |
|
5 |
|
|
Subsidiary |
München, Bayern |
Germany |
Commercial Banks |
1,077.9 |
1,706 |
|
|
Subsidiary |
München, Bayern |
Germany |
Retail (Specialty) |
673.6 |
1,330 |
|
|
Subsidiary |
Berlin |
Germany |
Auto and Truck Manufacturers |
|
388 |
|
|
Subsidiary |
Berlin, Berlin |
Germany |
Retail (Specialty) |
|
36 |
|
|
Subsidiary |
München, Bayern |
Germany |
Retail (Specialty) |
|
110 |
|
|
Subsidiary |
München, Bayern |
Germany |
Retail (Specialty) |
|
80 |
|
|
Motorent
München Autovermietung Gesellschaft mit beschränkter Haftung |
Subsidiary |
München, Bayern |
Germany |
Business Services |
|
20 |
|
Subsidiary |
München, Bayern |
Germany |
Commercial Banks |
174.1 |
147 |
|
|
Subsidiary |
München, Bayern |
Germany |
Retail (Specialty) |
|
51 |
|
|
Subsidiary |
München, Bayern |
Germany |
Retail (Specialty) |
|
50 |
|
|
Subsidiary |
München, Bayern |
Germany |
Retail (Specialty) |
|
40 |
|
|
Subsidiary |
München, Bayern |
Germany |
Commercial Banks |
|
1 |
|
|
Subsidiary |
Ulm, Baden-Württemberg |
Germany |
Retail (Specialty) |
|
300 |
|
|
Subsidiary |
Ulm, Baden-Württemberg |
Germany |
Retail (Specialty) |
|
53 |
|
|
Subsidiary |
München |
Germany |
Retail (Specialty) |
81.6 |
100 |
|
|
Subsidiary |
Stuttgart, Baden-Württemberg |
Germany |
Retail (Specialty) |
215.6 |
600 |
|
|
Subsidiary |
Hamburg, Hamburg |
Germany |
Retail (Specialty) |
4.5 |
600 |
|
|
Subsidiary |
Hannover, Niedersachsen |
Germany |
Retail (Specialty) |
90.3 |
185 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Retail (Specialty) |
231.9 |
360 |
|
|
Subsidiary |
Unna, Nordrhein-Westfalen |
Germany |
Business Services |
30.8 |
300 |
|
|
Subsidiary |
Chemnitz, Sachsen |
Germany |
Retail (Specialty) |
85.8 |
215 |
|
|
Subsidiary |
Mannheim, Baden-Württemberg |
Germany |
Retail (Specialty) |
119.4 |
200 |
|
|
Subsidiary |
Leipzig |
Germany |
Retail (Specialty) |
164.0 |
155 |
|
|
Subsidiary |
Aurich, Niedersachsen |
Germany |
Retail (Specialty) |
74.3 |
152 |
|
|
Subsidiary |
Potsdam |
Germany |
Retail (Specialty) |
27.3 |
120 |
|
|
Subsidiary |
Potsdam, Brandenburg |
Germany |
Business Services |
|
23 |
|
|
Subsidiary |
Wolfsburg, Niedersachsen |
Germany |
Business Services |
47.8 |
15 |
|
|
Subsidiary |
Bochum, Nordrhein-Westfalen |
Germany |
Retail (Specialty) |
|
1 |
|
|
Subsidiary |
Wolfsburg, Niedersachsen |
Germany |
Electric Utilities |
718.1 |
2 |
|
|
Subsidiary |
Wolfsburg, Niedersachsen |
Germany |
Business Services |
16.3 |
2 |
|
|
Subsidiary |
Sao Paulo, Sao Paulo |
Brazil |
Insurance (Accident and Health) |
|
2 |
|
|
Subsidiary |
Uitenhage |
South Africa |
Auto and Truck Manufacturers |
1,750.0 |
|
|
|
Subsidiary |
Södertälje |
Sweden |
Auto and Truck Parts |
875.0 |
|
|
|
Subsidiary |
Amersfoort, Utrecht |
Netherlands |
Consumer Financial Services |
363.8 |
|
|
|
Subsidiary |
Amersfoort, Utrecht |
Netherlands |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Amersfoort |
Netherlands |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Amersfoort |
Netherlands |
Consumer Financial Services |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Retail (Specialty) |
320.4 |
|
|
|
Subsidiary |
San Juan |
Puerto Rico |
Retail (Specialty) |
75.0 |
|
|
|
Subsidiary |
Puebla, Puebla |
Mexico |
Auto and Truck Manufacturers |
9,262.1 |
14,700 |
|
|
Subsidiary |
Wolfsburg, Niedersachsen |
Germany |
Business Services |
65.9 |
|
|
|
Subsidiary |
Toyohashi |
Japan |
Retail (Specialty) |
1.0 |
|
|
|
Subsidiary |
Berlin |
Germany |
Retail (Specialty) |
1.0 |
|
|
|
Subsidiary |
Mumbai |
India |
Auto and Truck Manufacturers |
|
|
|
|
Joint Venture |
Tekirdag |
Turkey |
Auto and Truck Parts |
|
|
|
|
Subsidiary |
Shanghai |
China |
Auto and Truck Parts |
|
|
|
|
Subsidiary |
Wolfsburg |
Germany |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Cuautlancingo, Puebla |
Mexico |
Commercial Banks |
|
|
|
|
Subsidiary |
Södertälje |
Sweden |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Salta |
Argentina |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Bahía Blanca |
Argentina |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Mannheim |
Germany |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Jaçatuba |
Brazil |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Guaymayén |
Argentina |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Pune |
India |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Aurich |
Germany |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Milano |
Italy |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Amman |
Jordan |
Rental and Leasing |
|
|
|
|
Subsidiary |
Zwickau |
Germany |
Real Estate Operations |
|
|
|
|
Subsidiary |
Crewe |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Vogosca |
Bosnia and Herzegovina |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Bratislava |
Slovakia |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
New Delhi |
India |
Retail (Specialty) |
|
|
|
|
Subsidiary |
Berlin |
Germany |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Wolfsburg |
Germany |
Engineering Consultants |
|
|
|
|
Subsidiary |
Berlin |
Germany |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Berlin |
Germany |
Business Services |
|
|
|
|
Subsidiary |
Bratislava |
Slovakia |
Investment Services |
|
|
|
|
Subsidiary |
Hong Kong |
Hong Kong |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Amersfoort |
Netherlands |
Rental and Leasing |
|
|
|
|
Subsidiary |
Warsaw |
Poland |
Business Services |
|
|
|
|
Subsidiary |
Kaluga Region |
Russian Federation |
Auto and Truck Manufacturers |
|
|
|
|
Subsidiary |
Södertälje |
Sweden |
Business Services |
|
|
|
|
Scania CV Ab |
Subsidiary |
|
|
|
|
|
|
Subsidiary |
Bruxelles |
Belgium |
Retail (Specialty) |
|
|
|
|
Subsidiary |
Drongen |
Belgium |
Retail (Specialty) |
104.2 |
155 |
Competitors Report
|
CompanyName |
Location |
Employees |
Ownership |
|
AB Volvo |
Gothenburg, Sweden |
94,723 |
Public |
|
Bayerische Motoren Werke AG |
Munich, Germany |
96,045 |
Public |
|
Daimler AG |
Stuttgart, Germany |
261,718 |
Public |
|
Fiat SpA |
Turin, Italy |
137,801 |
Public |
|
Ford Motor Company |
Dearborn, Michigan, United States |
164,000 |
Public |
|
HONDA MOTOR CO., LTD. |
Minato-ku, Japan |
179,060 |
Public |
|
Motors Liquidation Company |
Detroit, Michigan, United States |
205,000 |
Public |
|
Nissan Motor Co., Ltd. |
Yokohama-shi, Japan |
155,099 |
Public |
|
Renault SA |
Boulogne Billancourt, France |
124,749 |
Public |
|
Saab AB |
Stockholm, Sweden |
12,541 |
Public |
|
SUZUKI MOTOR CORPORATION |
Hamamatsu-shi, Japan |
52,731 |
Public |
|
TOYOTA MOTOR CORPORATION |
Toyota-shi, Japan |
317,716 |
Public |
Executives Report
|
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Significant Developments
|
Hamilton County July vehicle sales rise 15 percent
Chattanooga Times (TN): 03 August 2011
[What follows is the full text of the news story.]
Aug. 03--Demand
for new cars and trucks in Hamilton County was up sharply in July over a year
ago, figures show.
New vehicle
registrations rose 15 percent in July versus the same month in 2010 to 851 cars
and trucks, according to the Hamilton County Clerk's Office.
For the first
seven months of the year, registrations are up 14.2 percent in the county
compared with the same period a year ago.
But compared to
June, the number of vehicles titled in July was down 13.6 percent in Hamilton
County.
The industry was
hurt last month by consumer uncertainty about the economy, higher prices and
spot shortages of the Japanese brands and small cars, analysts and industry
executives said.
"The auto
industry is having a difficult time shaking off adversity," said Jeff
Schuster, executive director of global forecasting at J.D. Power and
Associates.
General Motors Co.
said July sales rose 7.6 percent to a 214,915 vehicles compared to the same
month a year earlier.
American Honda
Motor Co. said its July sales fell 28.4 percent to 80,052 vehicles.
Honda was one of the
auto companies hit hardest by manufacturing and parts supply disruptions caused
by the Japanese earthquake and tsunami.
"We look
forward to improved inventory levels in the coming months as most of our North
American facilities begin to return to full production in August," said
John Mendel, executive vice president of sales for American Honda.
Toyota Motor Corp.
said its July sales fell 22.7 percent to 130,802 vehicles, while Subaru sales
fell 9.4 percent to 21,730 vehicles. Nissan North America said its sales rose
just 2.7 percent to 84,601 vehicles.
Other automakers
posted better results.
Ford Motor Co.
said its July sales totaled 180,865, up 8.9 percent from the same month a year
earlier.
Chrysler Group
posted a 20 percent increase to 112,026 vehicles.
It was the
automaker's best July since 2007 despite a sales environment "tougher than
a cheap steak," said Reid Bigland, chief executive of Chrysler's Dodge
brand.
Volkswagen of
America also posted a gain, reporting sales of 29,066 vehicles, a 21.7 percent
increase over the same month a year earlier.
More than half of
its sales volume came from one model, the Jetta compact sedan.
"July was a
strong month and signaled a good start for the second half of the year,"
said Jonathan Browning, Volkswagen's U.S. chief executive.
"For the
seventh month in a row, we significantly outpaced the industry
performance," Browning said.
To see more of the
Chattanooga Times Free Press, or to subscribe to the newspaper, go to
http://www.timesfreepress.com.
For more information
about the content services offered by McClatchy-Tribune Information Services
(MCT), visit www.mctinfoservices.com, e-mail services@mctinfoservices.com, or
call 866-280-5210 (outside the United States, call +1 312-222-4544)
German Jul new car registrations rise by 9.9% Y/Y –
KBA
ADP Germany News: 03 August 2011
[What follows is the full text of the news story.]
(SeeNews) - Aug 3,
2011 - New passenger car registrations in Germany increased by 9.9% on the year
to 260,907 in July 2011, the German Federal Motor Transport Authority (KBA)
said on Wednesday.
As compared with
June 2011, new car registrations in July decreased by 9.5%.
New motor vehicle
registrations in July grew by 9.6% on an annual basis to 306,725. On a monthly
basis they fell by 8.4%.
Registrations of
cars produced by German carmaker Volkswagen AG (ETR:VOW) grew by 32.2% on the
year in July, while Opel and Audi registered a rise of 11.1%. Porsche's
registrations, on the other hand, declined by 23.2% in annual terms in July.
From January to July,
the number of newly-registered passenger cars in Germany advanced by 10.4% on
the year to 1.88 billion.
VW Tie-Up
'Premised On Equal Partnership': Suzuki VP
Nikkei English
News: 03 August 2011
[What follows is
the full text of the news story.]
TOKYO (NQN)--The
vice president of Suzuki Motor Corp. (7269) said Wednesday that the automaker's
alliance with Volkswagen AG has from the start been premised on being an
"equal partnership."
Toshihiro Suzuki made the comment at a news conference to announce the
firm's earnings.
VW is considering taking another look at the tie-up, which the German
automaker thinks is not going well.
Suzuki said VW has not mentioned specifically what points it is
reviewing.
SocGen leads sharp
drop for European markets
Euro leaps as Switzerland moves to cool its overvalued franc
MarketWatch: 03 August 2011
[What follows is the full text of the news story.]
LONDON
(MarketWatch) European stock markets
fell sharply Wednesday on the heels of fresh sell-offs in both the U.S. and Asia,
with Societe Generale leading the decline after the French bank warned that its
2012 earnings target will be hard to achieve.
The Stoxx Europe
600 index SXXPdropped 1.1% to 254.26 in morning trading, hitting its lowest
level since September as worries about stalling economies in Europe and the
U.S. pushed all sectors into the red.
The losses
followed a 2.2% drop for the Dow Jones Industrial Average DJIA on Tuesday, its
eighth consecutive decline, as an agreement to lift the U.S. debt ceiling could
do nothing to halt the mounting concerns about growth.
Among the worst
performers was Societe Generale GLE, which dropped 6.6% after reporting a 31%
drop in second-quarter net profit, driven by write-downs on its Greek bond
holdings, and warning that its 2012 profit target of 6 billion euros ($8.5
billion) now appears difficult to achieve.
The stock led the
French CAC 40 index PX1down 1.3% to 3,476.66.
Other bank stocks
were also mostly lower, including a 2.5% drop for Credit Agricole ACAand a 2.6%
fall for Italys UniCredit SpA UCG,which is scheduled to report earnings later
in the day.
Standard Chartered
PLC STANwas the main exception, rising 2.2% in London after the emerging
markets-focused lender reported a 20% rise in its first-half profit.
The euro EURCHFwas
stronger, rising 0.5% against the dollar and surging 2% against the Swiss franc
as the Swiss National Bank took steps to halt the francs recent rise.
Calling the franc
massively overvalued at present, the SNB said it would move its target for
three-month Libor as close to zero as possible, narrowing the target range to
0% to 0.25% from 0% to 0.75%.
The bank said it
will simultaneously very significantly increase the supply of liquidity to the
Swiss franc money market over the next few days, and that it aims to expand
banks sight deposits at the SNB from around 30 billion Swiss francs to 80
billion Swiss francs.
Other heavy losers
on Europes stock markets included Cairn Energy PLC CNE, which dropped 4.5% in
London after the oil and gas exploration firm said a well off the coast of
Greenland didnt find oil.
Most other
commodities-related stocks were lower, including a 2.8% drop for BHP Billiton
BLTBHPafter Credit Suisse downgraded the stock to neutral from outperform,
saying rival Rio Tinto RIORIOwas its preferred play. Shares in Rio Tinto were
down a more muted 1.4%.
The U.K.s FTSE 100
index UKXdropped 1.1% to 5,653.79 and the German DAX 30 index DAXwas down 1.2%
at 6,712.60.
Volkswagen AG
VOW3was the biggest decliner on the German market, dropping 3.8% as auto stocks
lost ground across the continent.
Among other stocks
in focus across Europe, shares in Thomas Cook Group PLC TCGrose 5.3% after the
company announced the departure of its CEO just weeks after a profit warning.
Munich the only
big spenders in modest Bundesliga transfer market By John Bagratuni, dpa
Dpa English: 03 August 2011
[What follows is the full text of the news story.]
Berlin (dpa) -
Bayern Munich have been the biggest summer spenders as they aim to return to
the top of the Bundesliga which has been modest overall on the transfer market
ahead of Friday's kickoff.
Led by Germany
goalkeeper and freshly crowned Footballer of the Year Manuel Neuer, Munich
spent around 45 million euros (64.7 million dollars) from the 132 million euros
all 18 clubs invested in new players.
The sum tops the
87 million euros from last year, but is far below the record 194 million euros
spent in 2007. In addition, the top flight clubs have raked in 102 million
dollars from player sales.
The figures are
subject to change as the transfer window remains open until August 31.
VfL Wolfsburg are
still trying to get rid of out-of-favour Brazilian playmaker Diego and some
clubs may look at additional players if they don't get out of the starting
blocks well.
But due to
Bundesliga ownership rules, which outlaw investors fully taking over a club,
huge transfers as in England, Italy and Spain are simply out of the question.
Munich have a new
coach in Jupp Heynckes and also spent big on players after having to settle for
third in the past season without a trophy.
Neuer came from
Schalke for an estimated 22 million euros, the biggest Bundesliga summer
transfer fee. The troubled defence is to be bolstered by Jerome Boateng and
Rafinha, who cost some 19 million euros.
"We want to
became national champions and cup winners. That is Bayern Munich's aim, year
after year," said captain Philipp Lahm.
The new players
are also to raise Munich's chances in the Champions League as the 2012 final
takes place in their home stadium.
Munich remain Germany's
weathiest club while Borussia Dortmund were forced into modesty in recent years
after almost going bankrupt.
However, relying
on young talent and cheap hirings did not stop them from winning the Bundesliga
title by a mile in the past season.
Juergen Klopp's
young squad is almost unchanged, with Turkey midfielder Nuri Sahin the only
notable departure for around 10 million euros to Real Madrid. Dortmund nvested
5.5 million in Brugge's Ivan Perisic and also got Ilkay Guendogan from
Nuremberg.
SV Hamburg and
Schalke, both below par last season, are also in a money-saving mood as they
cut down on big and expensive rosters, with the likes of Ruud van Nisterooy
leaving.
Both clubs appear
set to follow Dortmund's example of breeding young and hungry talent, a move
which has also led to big success in the national team.
Elsewhere,
Volkswagen-backed VfL Wolfsburg spent 9 million euros on midfielder Christian
Traesch and may go shopping again if they manage to sell Diego.
Runners-up Bayer
Leverkusen invested 8 million euros in Germany talent Andre Schuerrle and got
even more by selling Arturo Vidal to Italy's Juventus.
German automakers record rising vehicle sales in
USA for Jul 2011
ADP Germany News:
03 August 2011
[What follows is
the full text of the news story.]
(SeeNews) - Aug 3,
2011 - Germany's car makers reported increasing unit sales for July in the
United States amid growing demand for German-made cars in the country.
BMW (ETR:BMW)
delivered 26,120 vehicles in the United States in July, an increase of 11.7%
from the same month a year earlier. Sales of the core BMW brand advanced 12.3%
to 21,409 and the Mini smallcar brand saw volumes gain 8.9% to 4,711. The
biggest rise was registered by the X3 mid-size sport utility vehicle (SUV),
which saw deliveries surge 295% to 2,207 units.
Daimler's
(ETR:DAI) US sales increased 16.7% to 21,065 units in July, with sales of the
core Mercedes-Benz brand advancing 9.4% to 19,006. The Mercedes-Benz E-Class
was the best-selling model with 5,114 sold vehicles.
Porsche (ETR:PAH3)
sold 2,768 units in the United States in July 2011, up 2% from the prior-year
period thanks to strong demand for the Cayenne offroader, which delivered 1,342
units last month. Sales of the high-margin 911 model fell to 480 vehicles from
593 a year earlier.
Audi (ETR:NSU),
part of Volkswagen (ETR:VOW), saw vehicle sales grow 17% to 9,146 units in
July. The A4 was again Audi's best-selling model with 2,274 delivered vehicles.
Suzuki Motor 1Q
Group Net Profit Up 24% On One-Time Gain From Sec Sales
Nikkei English News: 03 August 2011
[What follows is the full text of the news story.]
TOKYO (Dow
Jones)--Suzuki Motor Corp. (7269.TO) said Wednesday that its net profit climbed
24% in the April-June quarter from a year earlier, due to an extraordinary profit
from the sale of part of its securities holdings.
The car maker,
which specializes in small vehicles, posted a net profit of Y18.73 billion,
down from Y15.16 billion, due to the extraordinary gain, worth Y8.31 billion.
But its main
business was battered by a fall in sales stemming from lower output caused by
disrupted parts procurement in the aftermath of the March 11 earthquake, and
the yen's appreciation. Sales revenue declined 7.5% to Y607.34 billion from
Y656.28 billion.
Squeezed by hefty
fixed-costs in manufacturing amid the fall in production, its operating profit
fell 20% to Y25.57 billion from Y31.95 billion.
Suzuki, which
enjoys a share of about half of the growing Indian car market through local
subsidiary Maruti Suzuki India Ltd. (532500.BY), left unchanged its forecast
for this fiscal year.
The car maker,
which is allied with Volkswagen AG (VOW.XE), expects a net profit of Y50
billion, an operating profit of Y110 billion and sales of Y2.610 trillion for
the full fiscal year.
The company
reports earnings under Japanese accounting standards.
-By Yoshio Takahashi, Dow Jones Newswires; 813-6269-2791;
yoshio.takahashi@dowjones.com
Business: Peter Hargreaves Executive director, Hargreaves Lansdown
The business on...
Independent (UK): 03 August 2011
[What follows is the full text of the news story.]
The City is in a
bit of lather over Hargreaves Lansdown, we hear?
Well, the
Financial Services Authority has announced a potential ban on payments by fund
managers to online platforms that sell their products, such as HL's. Investors
fear this will force HL to reshape its business model, which is why its shares
fell by up to 10 per cent yesterday.
Oh dear, so
Peter's cross again?
Are you referring
to Mr Hargreaves' tendency to freely voice his fairly trenchant views on
everything and anything? Apparently not. HL has issued a rather bland statement
explaining that it is "relaxed about the short and long-term
outcomes" and had a variety of "proven revenue models" if the
FSA does opt for a ban.
Isn't that rather
restrained?
Well HL is no
longer run by Mr Hargreaves and his partner Stephen Lansdown. Ian Gorham, an
accountant by trade who joined the business in 2009, is the chief executive
these days. Mr Hargreaves is still a major presence though, boasting the rather
nebulous title of "executive director".
What should we
make of this?
Mr Hargreaves
might be opinionated but he's not stupid. He's steered the the company, which
started off as a two-man band, through a plethora of regulatory upheavals over
the years and he'll no doubt steer it through this one too. With Mr Gorham's
help of course. Citigroup issued a note yesterday suggesting the share-price
fall should be viewed a buying opportunity. Shrewd.
A bit of a hit to
his wallet though?
Short term, old
boy. Mr Hargreaves practises what he preaches. With the exception of his flash
car (a 90,000 Audi) he describes himself as a saver rather than a spender. And
he puts lots of his money (including the millions he made when HL floated) into
the unit trusts his company is so good at selling, rather than buying shares.
Don't worry about him.
No chance of fireworks at all?
Have no fears. Mr Hargreaves, who has advocated a flat tax and has
furiously described Bristol (where the company is headquartered) as "anti
business", won't be quiet for too long. It's not in his nature.
News
Independent (UK): 03 August 2011
[What follows is the full text of the news story.]
THEY MAY not have
known it, but users of MP3 players, CDs or DVDs have probably been breaking the
law for years as they transferred their favourite song from one format to
another.
Today the Business
Secretary, Vince Cable, will back plans that will legalise the practice, and
also give the makers of spoof videos free rein.
Under the
proposals, based on recommendations made in the Hargreaves Review of
Intellectual Property, the sharing of legitimately purchased media across
platforms, and with immediate family members, will be allowed by law.
Under the UK's
current copyright laws, transferring media from one format to another - for
example, from a CD to a computer or an iPod - is illegal, even if the owner is
the only person who ever uses the media. And, last year "Newport State of
Mind", a popular video parodying Alicia Keys and Jay-Z's song "Empire
State of Mind" was removed from YouTube after the songwriters complained
that it infringed their copyright. Strict laws also govern how resources like
academic journals can be used.
In his response to
Professor Ian Hargreaves' review, commissioned by David Cameron to look at how
copyright law should be modernised to fit in with digital advancements, Mr
Cable will say that he wants to introduce "exceptions" to the UK's
copyright laws. In his report, Professor Hargreaves said that sharing of
legitimately purchased media across platforms and with immediate family members
should be allowed by law. Professor Hargreaves also said that parodies should
be excepted from copyright law.
The move is likely
to be welcomed by performers, who would be allowed to spoof work without
seeking permission from the copyright holder, proposals the Business Secretary
will accept when he delivers his response at a conference this morning.
A Department for
Business, Innovation and Skills spokesman said that thousands of people copy
music privately every day, "assuming it is already legal to do so".
He added: "This move will bring copyright law into line with the real
world, and with consumers' reasonable expectations."
Mr Cable said:
"Allowing people to create parody or satire without fear of copyright
infringement has the potential to boost the creative industries and expand
their freedom of expression."
. . . AND THE
PARODIES THAT WILL ALMOST CERTAINLY FOLLOW
Perhaps the most
famous parody video to fall foul of the copyright holder was "Newport State
of Mind", a spoof of Alicia Keys and Jay-Z's "Empire State of
Mind". Despite its popularity and "affectionate" take on the
Welsh town, the songwriters demanded it be taken down.
Incensed at what
it saw as "one-sided reporting" of the Gaza Flotilla clash, an
Israeli group released a spoof, in which they sang "We Are the
World", changing the lyrics to suggest the Gazans were conning the media.
It was removed after Warner/Chappell Music, Inc complained.
When a Volkswagen
ad - itself a parody of the Star Wars films - was sent up by Greenpeace, the
environmental group could have been forgiven for thinking that the film studio
would be charitable. But the vigilant people at LucasFilm insisted it be
removed from YouTube.
The
"Downfall" parody video, in which the subtitles on Hitler's rant
sequence from Der Untergang are changed to parody a topical event, has become
popular in recent years. Constantin films, which owns the copyright, has tried
in vain to have them all removed from the internet.
European car owners
rank Volvo and Renault highest
Courier Mail (Australia): 03 August
2011
[What follows is the full text of the news story.]
VOLVO and Renault
drivers are the most satisfied of the one million owners of European cars in
Australia.
For the 12 months
to March, 94 per cent of Volvo and Renault drivers say they are satisfied with
their vehicle, according to a Roy Morgan automotive report.
This is 4
percentage points above the European average. Volvo moves up from equal fourth
five years ago and Renault up from equal second.
Roy Morgan
spokesman Norman Morris says the number of drivers of European cars has
increased 45 per cent in the past five years with almost two-thirds coming from
German brands.
``It is
interesting to note that (of the German brands) only Mercedes-Benz have made
gains over the last five years,'' he says.
Of the remaining
German brands, Audi had the strongest percentage point drop, moving from top
position five years ago to equal fifth. BMW is also down, falling marginally
under the 90 per cent mark.
Citroen and Saab
had the biggest declines in driver satisfaction with Citroen dropping 10
percentage points and Saab five.
``This is a
concerning result,'' says Morris.
``With vehicle
satisfaction being one of the key drivers of brand loyalty, this is a very
important measure for manufacturers to be aware of.''
Pune Pleased; Marc Berrocal from Spain, who shifted to the city three
months ago, says Pune is a modern city and maintains its Indian roots
DNA (Daily News & Analysis)
01 August 2011
By Preeti Devnani
[What follows is
the full text of the article.]
Marc Berrocal
moved to Pune from Spain just three months ago to set up his company's Indian
branch. "The Mazel Group has its headquarters in Barcelona but is spread
across the world. The company specialises in transport designing and
engineering. Along with designing planes and trains, we specialise in car
designing and have clients like Ferrari, Honda, Jaguar, Land Rover, Nissan,
Skoda, Audi and BMW. Many of our international clients have their presence in
Pune like Volkswagen, FIAT, and Mercedes-Benz while Renault is in Mumbai,"
says Marc. "It made sense for us to come down here to provide support to
their activities," says the Spaniard, who is busy scouting for good technicians,
car engineers and designers to be a part of his Pune team.
The expat, who
shifted to Pune with his girlfriend (also an assistant in the company), loves
Koregaon Park. "The area is green and cool. There are many European-style
restaurants here. We love visiting Terttulia's as it serves red meat too. We
aren't familiar with vegetarian food and don't even know what to order,"
says the expat, who feels Pune is a modern city and maintains its Indian roots.
Another reason why he likes the place is that it's not as big as Delhi or
Mumbai where you have to travel long distances and get stuck in traffic every
five minutes. "But what I don't like is the infrastructure which is not
prepared for the monsoons. When it's dry and clean, I love going for walks but
when it rains, the city becomes a mess. I just wish they created proper pipes
or drainage system," says Marc.
Talking about his
own hometown, Marc explains that like Pune Barcelona is a city that welcomes
everybody. "People follow the simple rule of enjoying life. We work hard
but also party hard. In Pune, people only work and work all week and enjoy just
on the weekends. But in Barcelona, it's common for us to finish work early and
hit the beach in the afternoon even on a weekday or go for some tapas and beer
after work or even to the theatre. Barcelona also has one of the best football
teams in the world. Just like cricket is a passion here, football is what
everybody breathes over there," says Marc, who has already made a lot of
Spanish friends in Pune due to the community's large presence here.
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The vehicle
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3711 Motor
vehicles and car bodies
Auto &
Truck Manufacturers [profile]
34100
Manufacture of motor vehicles
2812 Motor
Vehicle Body Manufacturing
Annual Profit & Loss
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.755078 |
0.719047 |
0.683679 |
|
Consolidated |
Yes |
Yes |
Yes |
|
|
|
|
|
|
Total income |
168,028.9 |
146,286.7 |
166,464.0 |
|
Net sales |
168,028.9 |
146,286.7 |
166,464.0 |
|
Other operating income |
10,128.8 |
10,992.3 |
12,827.7 |
|
Cost of sales |
139,629.2 |
127,402.0 |
141,311.9 |
|
Gross profit |
28,399.7 |
18,884.7 |
25,152.1 |
|
Advertising, distribution, and commercial expenses |
16,174.5 |
14,654.1 |
15,434.1 |
|
General expenses |
4,353.2 |
3,807.8 |
4,010.7 |
|
Other operating costs |
8,542.2 |
8,833.9 |
9,271.9 |
|
Net operating income |
9,458.6 |
2,581.2 |
9,263.1 |
|
Other income |
935.0 |
1,025.0 |
2,157.4 |
|
Interest payable on loans |
2,839.4 |
3,154.2 |
2,654.8 |
|
Total expenses |
-2,451.4 |
828.9 |
-402.2 |
|
Profit before tax |
11,910.0 |
1,752.3 |
9,665.4 |
|
Provisions |
60,220.3 |
56,445.6 |
56,854.1 |
|
Total taxation |
2,340.2 |
485.4 |
2,808.3 |
|
Net profit |
9,569.9 |
1,267.0 |
6,857.0 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
Yes |
Yes |
Yes |
|
|
|
|
|
|
Issued capital |
1,597.8 |
1,470.6 |
1,423.4 |
|
Capital reserves |
12,511.3 |
7,684.5 |
7,438.2 |
|
Total reserves |
50,555.0 |
45,348.1 |
43,817.2 |
|
Total stockholders equity |
65,349.6 |
53,702.7 |
51,971.2 |
|
Minority interests |
3,667.8 |
3,080.4 |
3,304.1 |
|
Deferred taxation |
7,629.4 |
7,057.5 |
6,554.1 |
|
Other provisions |
30,430.4 |
27,989.1 |
24,389.8 |
|
Provision for pensions |
20,702.8 |
19,994.7 |
18,008.1 |
|
Provisions and allowances |
61,001.6 |
58,232.2 |
54,031.2 |
|
Other debentures |
16,825.7 |
16,019.0 |
11,859.9 |
|
Mortgages and loans |
32,711.0 |
36,794.2 |
34,124.3 |
|
Advance payments |
- |
- |
48.7 |
|
Taxes and social security |
6,675.6 |
4,607.0 |
4,692.8 |
|
Total long-term liabilities |
56,212.3 |
57,420.1 |
50,725.7 |
|
Trade creditors |
16,828.4 |
14,670.3 |
13,450.1 |
|
Advances received |
2,571.8 |
1,751.8 |
1,609.7 |
|
Bank loans and overdrafts |
23,125.6 |
26,395.1 |
22,795.4 |
|
Other loans |
30,092.3 |
31,578.8 |
27,185.2 |
|
Taxation and social security |
11,705.0 |
9,742.0 |
11,105.1 |
|
Due to group companies |
398.4 |
460.6 |
354.5 |
|
Total current liabilities |
84,932.2 |
84,851.1 |
76,687.7 |
|
Total liabilities (including net worth) |
267,495.7 |
254,206.1 |
233,415.8 |
|
Patents |
1,538.8 |
1,361.6 |
16.7 |
|
Goodwill |
4,574.7 |
4,202.4 |
3,851.8 |
|
Other intangibles |
11,466.2 |
12,954.4 |
13,216.6 |
|
Intangibles |
17,579.7 |
18,518.3 |
17,085.1 |
|
Land and buildings |
12,860.1 |
13,021.8 |
11,682.0 |
|
Machinery and tools |
9,343.9 |
9,566.9 |
8,451.5 |
|
Fixtures and equipment |
12,860.1 |
13,021.8 |
11,682.0 |
|
Fixed assets under construction |
4,170.9 |
4,285.6 |
4,142.3 |
|
Total tangible fixed assets |
35,013.1 |
35,380.9 |
32,347.9 |
|
Deposits |
858.6 |
779.1 |
810.4 |
|
Total financial assets |
19,007.1 |
15,678.9 |
9,669.2 |
|
Other long-term assets |
15,846.4 |
14,760.7 |
13,746.2 |
|
Total non-current assets |
87,446.3 |
84,338.9 |
72,848.4 |
|
Raw materials |
3,345.8 |
2,912.5 |
2,792.6 |
|
Work in progress |
2,464.4 |
2,282.7 |
2,301.9 |
|
Finished goods |
17,827.9 |
14,945.8 |
19,598.3 |
|
Net stocks and work in progress |
23,638.1 |
20,141.0 |
24,692.8 |
|
Trade debtors |
9,233.9 |
8,166.6 |
8,297.2 |
|
Other receivables |
106,162.2 |
100,319.2 |
99,387.2 |
|
Total receivables |
118,284.5 |
111,158.7 |
112,816.5 |
|
Owing from associated companies |
2,888.4 |
2,672.9 |
5,132.1 |
|
Cash and liquid assets |
25,046.7 |
29,468.3 |
13,169.3 |
|
Short-term investments |
7,379.9 |
4,777.7 |
5,240.5 |
|
Shares in associated companies |
18,148.5 |
14,899.9 |
8,858.8 |
|
Recoverable taxation |
5,700.2 |
4,321.5 |
4,648.3 |
|
Total current assets |
174,349.2 |
165,545.8 |
155,919.1 |
|
Total assets |
267,495.7 |
254,206.1 |
233,415.8 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
Yes |
Yes |
Yes |
|
|
|
|
|
|
Current ratio |
20.53 |
19.51 |
20.33 |
|
Acid test ratio |
17.74 |
17.14 |
17.11 |
|
Total liabilities to net worth |
0.22% |
0.26% |
0.25% |
|
Net worth to total assets |
0.02% |
0.02% |
0.02% |
|
Current liabilities to net worth |
0.13% |
0.16% |
0.15% |
|
Current liabilities to stock |
0.36% |
0.42% |
0.31% |
|
Fixed assets to net worth |
0.13% |
0.16% |
0.14% |
|
Collection period |
197.00 |
197.00 |
190.00 |
|
Stock turnover rate |
1.39 |
1.33 |
1.56 |
|
Profit margin |
0.01% |
0.00% |
0.00% |
|
Return on assets |
0.00% |
0.00% |
0.00% |
|
Shareholders' return |
0.01% |
0.00% |
0.01% |
|
Sales per employee |
36.05 |
31.07 |
34.26 |
|
Profit per employee |
2.05 |
0.27 |
1.41 |
|
Net worth |
65,349.6 |
53,702.7 |
51,971.2 |
|
Number of employees |
351,907 |
338,499 |
332,192 |
Annual Income Statement
Financials
in: USD (mil)
Except
for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
PricewaterhouseCoopers AG |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
161,171.4 |
139,494.4 |
160,091.2 |
149,043.8 |
131,590.6 |
|
Revenue |
161,171.4 |
139,494.4 |
160,091.2 |
149,043.8 |
131,590.6 |
|
Interest Income, Non-Bank |
6,857.6 |
6,792.3 |
6,372.9 |
- |
- |
|
Other Revenue, Total |
6,857.6 |
6,792.3 |
6,372.9 |
- |
- |
|
Total Revenue |
168,028.9 |
146,286.7 |
166,464.0 |
149,043.8 |
131,590.6 |
|
|
|
|
|
|
|
|
Cost of Revenue |
139,629.2 |
127,402.0 |
141,311.9 |
126,742.8 |
114,206.2 |
|
Cost of Revenue, Total |
139,629.2 |
127,402.0 |
141,311.9 |
126,742.8 |
114,206.2 |
|
Gross Profit |
21,542.1 |
12,092.4 |
18,779.3 |
22,301.1 |
17,384.4 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
20,527.7 |
18,463.3 |
19,444.8 |
16,050.4 |
14,419.4 |
|
Total Selling/General/Administrative Expenses |
20,527.7 |
18,463.3 |
19,444.8 |
16,050.4 |
14,419.4 |
|
Investment Income -
Operating |
-427.8 |
-1,013.8 |
-1,455.4 |
- |
- |
|
Interest/Investment Income - Operating |
-427.8 |
-1,013.8 |
-1,455.4 |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
-427.8 |
-1,013.8 |
-1,455.4 |
- |
- |
|
Loss (Gain) on Sale of Assets - Operating |
-13.2 |
-52.8 |
43.9 |
-64.3 |
- |
|
Unusual Expense (Income) |
-13.2 |
-52.8 |
43.9 |
-64.3 |
- |
|
Other Operating Expense |
4,369.1 |
4,379.4 |
3,680.1 |
6,035.8 |
6,359.0 |
|
Other, Net |
-5,514.7 |
-5,471.1 |
-5,824.4 |
-8,139.5 |
-5,914.8 |
|
Other Operating Expenses, Total |
-1,145.6 |
-1,091.7 |
-2,144.3 |
-2,103.6 |
444.2 |
|
Total Operating Expense |
158,570.3 |
143,706.9 |
157,200.9 |
140,625.2 |
129,069.8 |
|
|
|
|
|
|
|
|
Operating Income |
9,458.6 |
2,579.8 |
9,263.1 |
8,418.7 |
2,520.8 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-2,839.4 |
-3,154.2 |
-2,654.8 |
-2,254.2 |
-1,990.0 |
|
Interest Expense, Net Non-Operating |
-2,839.4 |
-3,154.2 |
-2,654.8 |
-2,254.2 |
-1,990.0 |
|
Interest Income -
Non-Operating |
936.3 |
1,026.4 |
2,157.4 |
1,335.8 |
835.7 |
|
Investment Income -
Non-Operating |
4,357.2 |
1,300.3 |
899.5 |
1,004.6 |
683.8 |
|
Interest/Investment Income - Non-Operating |
5,293.5 |
2,326.7 |
3,057.0 |
2,340.4 |
1,519.5 |
|
Interest Income (Expense) - Net Non-Operating
Total |
2,454.1 |
-827.5 |
402.2 |
86.2 |
-470.5 |
|
Other Non-Operating Income (Expense) |
- |
- |
- |
450.3 |
199.5 |
|
Other, Net |
- |
- |
- |
450.3 |
199.5 |
|
Income Before Tax |
11,912.7 |
1,752.3 |
9,665.4 |
8,955.2 |
2,249.7 |
|
|
|
|
|
|
|
|
Total Income Tax |
2,340.2 |
485.4 |
2,808.3 |
3,313.5 |
-203.3 |
|
Income After Tax |
9,572.5 |
1,267.0 |
6,857.0 |
5,641.6 |
2,453.0 |
|
|
|
|
|
|
|
|
Minority Interest |
-519.2 |
68.1 |
95.1 |
-2.7 |
-1.3 |
|
Net Income Before Extraord Items |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
2,451.8 |
|
Discontinued Operations |
- |
- |
- |
0.0 |
997.5 |
|
Total Extraord Items |
- |
- |
- |
0.0 |
997.5 |
|
Net Income |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
3,449.3 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
2,451.8 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
3,449.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
449.9 |
402.6 |
398.1 |
394.3 |
387.8 |
|
Basic EPS Excl Extraord Items |
20.12 |
3.32 |
17.46 |
14.30 |
6.32 |
|
Basic/Primary EPS Incl Extraord Items |
20.12 |
3.32 |
17.46 |
14.30 |
8.90 |
|
Diluted Net Income |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
3,449.3 |
|
Diluted Weighted Average Shares |
449.9 |
402.7 |
399.7 |
397.7 |
389.8 |
|
Diluted EPS Excl Extraord Items |
20.12 |
3.32 |
17.39 |
14.18 |
6.29 |
|
Diluted EPS Incl Extraord Items |
20.12 |
3.32 |
17.39 |
14.18 |
8.85 |
|
Dividends per Share - Common Stock Primary Issue |
2.91 |
2.23 |
2.82 |
2.46 |
1.57 |
|
Dividends per Share - Common Stock Issue 2 |
2.99 |
2.29 |
2.89 |
2.53 |
1.63 |
|
Gross Dividends - Common Stock |
1,369.4 |
899.8 |
1,139.4 |
985.4 |
623.6 |
|
Interest Expense, Supplemental |
2,839.4 |
3,154.2 |
2,654.8 |
2,254.2 |
1,990.0 |
|
Depreciation, Supplemental |
9,273.2 |
9,170.5 |
9,296.8 |
6,610.7 |
6,598.7 |
|
Total Special Items |
1,709.8 |
769.1 |
43.9 |
-64.3 |
0.0 |
|
Normalized Income Before Tax |
13,622.4 |
2,521.4 |
9,709.2 |
8,890.9 |
2,249.7 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
335.9 |
213.0 |
12.7 |
-23.8 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
2,676.0 |
698.4 |
2,821.1 |
3,289.7 |
-203.3 |
|
Normalized Income After Tax |
10,946.4 |
1,823.0 |
6,888.1 |
5,601.1 |
2,453.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
10,427.3 |
1,891.2 |
6,983.2 |
5,598.4 |
2,451.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
23.18 |
4.70 |
17.54 |
14.20 |
6.32 |
|
Diluted Normalized EPS |
23.17 |
4.70 |
17.47 |
14.08 |
6.29 |
|
Amort of Acquisition Costs, Supplemental |
- |
- |
- |
- |
0.0 |
|
Amort of Intangibles, Supplemental |
2,515.0 |
2,415.7 |
2,545.1 |
2,174.8 |
1,934.8 |
|
Rental Expenses |
834.4 |
757.9 |
535.3 |
- |
- |
|
Research & Development Exp, Supplemental |
9,093.1 |
7,550.3 |
7,462.6 |
7,281.3 |
5,756.7 |
|
Normalized EBIT |
10,740.6 |
2,335.0 |
7,851.6 |
8,354.3 |
2,520.8 |
|
Normalized EBITDA |
22,528.8 |
13,921.2 |
19,693.4 |
17,139.8 |
11,054.2 |
|
Current Tax - Domestic |
2,276.6 |
706.5 |
1,981.9 |
2,563.5 |
-574.7 |
|
Current Tax - Foreign |
2,034.2 |
1,129.3 |
1,589.9 |
1,368.7 |
997.5 |
|
Current Tax - Other |
-386.7 |
-244.8 |
-152.1 |
-176.6 |
-156.8 |
|
Current Tax - Total |
3,924.1 |
1,591.0 |
3,419.7 |
3,755.6 |
266.0 |
|
Deferred Tax - Domestic |
-565.5 |
-500.7 |
-125.8 |
142.3 |
-522.0 |
|
Deferred Tax - Foreign |
-1,017.1 |
-606.4 |
-485.6 |
-584.4 |
52.7 |
|
Deferred Tax - Total |
-1,582.6 |
-1,107.0 |
-611.4 |
-442.1 |
-469.3 |
|
Income Tax - Total |
2,341.5 |
484.0 |
2,808.3 |
3,313.5 |
-203.3 |
|
Interest Cost - Domestic |
1,287.3 |
1,276.7 |
1,293.0 |
1,089.5 |
- |
|
Service Cost - Domestic |
484.7 |
477.0 |
473.9 |
459.9 |
- |
|
Prior Service Cost - Domestic |
4.0 |
-45.9 |
24.9 |
13.7 |
- |
|
Expected Return on Assets - Domestic |
-327.1 |
-282.3 |
-314.5 |
-297.0 |
- |
|
Curtailments & Settlements - Domestic |
-31.8 |
-1.4 |
2.9 |
-34.2 |
- |
|
Other Pension, Net - Domestic |
-10.6 |
5.6 |
20.5 |
-10.9 |
- |
|
Domestic Pension Plan Expense |
1,406.5 |
1,429.7 |
1,500.7 |
1,220.9 |
- |
|
Total Pension Expense |
1,406.5 |
1,429.7 |
1,500.7 |
1,220.9 |
- |
|
Total Plan Interest Cost |
1,287.3 |
1,276.7 |
1,293.0 |
1,089.5 |
- |
|
Total Plan Service Cost |
484.7 |
477.0 |
473.9 |
459.9 |
- |
|
Total Plan Expected Return |
-327.1 |
-282.3 |
-314.5 |
-297.0 |
- |
|
Total Plan Other Expense |
-10.6 |
5.6 |
20.5 |
-10.9 |
- |
Annual Balance Sheet
Financials in: USD
(mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
0.683971 |
0.758351 |
|
Auditor |
PricewaterhouseCoopers AG |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
24,986.4 |
29,421.0 |
12,535.5 |
- |
- |
|
Cash & Equivalents |
60.4 |
47.3 |
633.9 |
14,784.2 |
12,351.8 |
|
Short Term Investments |
7,379.9 |
4,777.7 |
5,240.5 |
9,671.5 |
6,713.2 |
|
Cash and Short Term Investments |
32,426.6 |
34,246.0 |
18,409.8 |
24,455.7 |
19,065.0 |
|
Trade Accounts Receivable - Net |
11,289.1 |
10,252.7 |
12,624.4 |
8,320.5 |
6,657.9 |
|
Notes Receivable - Short Term |
40,466.5 |
39,316.5 |
37,580.0 |
36,425.5 |
30,890.7 |
|
Other Receivables |
3,186.2 |
3,023.0 |
3,326.4 |
10,458.0 |
7,691.7 |
|
Total Receivables, Net |
54,941.8 |
52,592.2 |
53,530.8 |
55,204.1 |
45,240.2 |
|
Inventories - Finished Goods |
14,514.2 |
12,686.1 |
17,231.1 |
15,241.9 |
11,933.8 |
|
Inventories - Work In Progress |
2,464.4 |
2,281.3 |
2,301.9 |
1,995.7 |
1,770.9 |
|
Inventories - Raw Materials |
3,345.8 |
2,912.5 |
2,792.6 |
3,253.1 |
2,717.7 |
|
Inventories - Other |
3,328.4 |
2,383.1 |
2,439.5 |
23.4 |
11.9 |
|
Total Inventory |
23,652.9 |
20,263.0 |
24,765.1 |
20,514.0 |
16,434.3 |
|
Discontinued Operations - Current Asset |
- |
0.0 |
1,399.8 |
0.0 |
- |
|
Other Current Assets |
4,266.1 |
4,487.9 |
7,764.8 |
- |
- |
|
Other Current Assets, Total |
4,266.1 |
4,487.9 |
9,164.6 |
0.0 |
- |
|
Total Current Assets |
115,287.4 |
111,589.1 |
105,870.4 |
100,173.8 |
80,739.6 |
|
|
|
|
|
|
|
|
Land/Improvements |
24,798.6 |
24,841.3 |
22,486.8 |
21,088.6 |
18,647.0 |
|
Machinery/Equipment |
92,431.5 |
93,046.4 |
84,070.2 |
84,313.5 |
73,645.3 |
|
Construction in
Progress |
4,244.7 |
4,350.2 |
4,293.9 |
2,684.3 |
2,001.7 |
|
Other
Property/Plant/Equipment |
21,856.5 |
20,261.5 |
18,070.7 |
- |
- |
|
Property/Plant/Equipment - Gross |
143,331.2 |
142,499.4 |
128,921.6 |
108,086.4 |
94,294.0 |
|
Accumulated Depreciation |
-92,471.7 |
-92,359.2 |
-82,827.5 |
-79,813.3 |
-67,472.7 |
|
Property/Plant/Equipment - Net |
50,859.5 |
50,140.2 |
46,094.1 |
28,273.1 |
26,821.3 |
|
Goodwill - Gross |
- |
- |
- |
293.9 |
257.1 |
|
Accumulated Goodwill Amortization |
- |
- |
- |
- |
0.0 |
|
Goodwill, Net |
4,574.7 |
4,202.4 |
3,851.8 |
293.9 |
257.1 |
|
Intangibles - Gross |
13,005.0 |
14,315.9 |
13,233.3 |
20,242.1 |
17,626.4 |
|
Accumulated Intangible Amortization |
- |
- |
- |
-10,550.2 |
-8,398.5 |
|
Intangibles, Net |
13,005.0 |
14,315.9 |
13,233.3 |
9,691.9 |
9,227.9 |
|
LT Investment - Affiliate Companies |
19,007.1 |
15,678.9 |
9,669.2 |
12,197.9 |
9,607.7 |
|
LT Investments - Other |
- |
- |
- |
222.2 |
201.8 |
|
Long Term Investments |
19,007.1 |
15,678.9 |
9,669.2 |
12,420.1 |
9,809.4 |
|
Note Receivable - Long Term |
59,061.7 |
53,955.2 |
50,048.8 |
45,162.7 |
38,871.2 |
|
Deferred Income Tax - Long Term Asset |
5,698.9 |
4,322.9 |
4,648.3 |
4,545.5 |
4,006.1 |
|
Other Long Term Assets |
- |
- |
- |
11,958.1 |
10,398.9 |
|
Other Long Term Assets, Total |
5,698.9 |
4,322.9 |
4,648.3 |
16,503.6 |
14,404.9 |
|
Total Assets |
267,494.3 |
254,204.7 |
233,415.8 |
212,519.2 |
180,131.5 |
|
|
|
|
|
|
|
|
Accounts Payable |
17,226.8 |
15,130.9 |
13,680.9 |
13,303.2 |
10,799.7 |
|
Accrued Expenses |
4,564.0 |
3,582.6 |
3,414.0 |
- |
- |
|
Notes Payable/Short Term Debt |
12,536.8 |
15,519.7 |
9,904.1 |
10,151.0 |
9,879.3 |
|
Current Portion - Long Term Debt/Capital Leases |
40,928.0 |
42,739.8 |
40,308.7 |
31,776.2 |
29,710.5 |
|
Customer Advances |
2,571.8 |
1,753.3 |
1,609.7 |
- |
- |
|
Income Taxes Payable |
3,170.1 |
1,500.7 |
1,694.5 |
2,815.9 |
44.8 |
|
Other Current Liabilities |
22,167.8 |
19,537.0 |
19,466.3 |
23,927.9 |
20,093.6 |
|
Other Current liabilities, Total |
27,909.6 |
22,791.0 |
22,770.4 |
26,743.8 |
20,138.4 |
|
Total Current Liabilities |
103,165.2 |
99,763.9 |
90,078.0 |
81,974.2 |
70,528.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
49,536.7 |
52,813.1 |
45,984.2 |
42,577.8 |
37,626.4 |
|
Capital Lease Obligations |
313.9 |
262.6 |
244.6 |
282.2 |
263.7 |
|
Total Long Term Debt |
49,850.7 |
53,075.7 |
46,228.9 |
42,860.0 |
37,890.1 |
|
Total Debt |
103,315.4 |
111,335.2 |
96,441.7 |
84,787.2 |
77,479.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
2,239.0 |
3,190.9 |
5,079.2 |
3,855.4 |
2,840.4 |
|
Deferred Income Tax |
2,239.0 |
3,190.9 |
5,079.2 |
3,855.4 |
2,840.4 |
|
Minority Interest |
3,667.8 |
3,083.3 |
3,304.1 |
92.1 |
72.5 |
|
Reserves |
14,985.1 |
14,473.8 |
12,611.9 |
12,099.9 |
9,357.1 |
|
Pension Benefits - Underfunded |
20,702.8 |
19,994.7 |
18,008.1 |
18,426.2 |
18,268.6 |
|
Other Long Term Liabilities |
11,204.6 |
10,005.9 |
9,438.4 |
6,608.5 |
5,697.9 |
|
Other Liabilities, Total |
46,892.5 |
44,474.4 |
40,058.5 |
37,134.6 |
33,323.6 |
|
Total Liabilities |
205,815.2 |
203,588.2 |
184,748.8 |
165,916.4 |
144,654.6 |
|
|
|
|
|
|
|
|
Common Stock |
1,597.8 |
1,470.6 |
1,423.4 |
1,484.0 |
1,323.9 |
|
Common Stock |
1,597.8 |
1,470.6 |
1,423.4 |
1,484.0 |
1,323.9 |
|
Additional Paid-In Capital |
12,511.3 |
7,684.5 |
7,438.2 |
7,517.9 |
6,516.8 |
|
Retained Earnings (Accumulated Deficit) |
47,712.2 |
42,932.0 |
39,805.5 |
37,601.0 |
27,636.3 |
|
Translation Adjustment |
-221.4 |
-2,698.8 |
- |
- |
- |
|
Other Equity |
- |
-2.9 |
- |
- |
- |
|
Other Comprehensive Income |
81.8 |
1,233.9 |
- |
- |
- |
|
Other Equity, Total |
-139.5 |
-1,467.7 |
- |
- |
- |
|
Total Equity |
61,681.8 |
50,619.4 |
48,667.0 |
46,602.8 |
35,477.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
267,497.0 |
254,207.6 |
233,415.8 |
212,519.2 |
180,131.5 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
295.0 |
295.0 |
294.9 |
291.3 |
287.0 |
|
Shares Outstanding - Common Stock Issue 2 |
170.1 |
105.9 |
105.9 |
105.9 |
105.9 |
|
Total Common Shares Outstanding |
465.2 |
400.9 |
400.8 |
397.2 |
392.9 |
|
Employees |
399,381 |
368,500 |
369,928 |
329,305 |
324,875 |
|
Accumulated Goodwill Amortization Suppl. |
- |
- |
- |
- |
0.0 |
|
Accumulated Intangible Amort, Suppl. |
12,194.7 |
12,056.2 |
10,692.3 |
10,550.2 |
8,398.5 |
|
Deferred Revenue - Current |
2,571.8 |
1,753.3 |
1,609.7 |
- |
- |
|
Total Long Term Debt, Supplemental |
112,784.1 |
116,345.3 |
- |
- |
77,479.9 |
|
Long Term Debt Maturing within 1 Year |
56,858.9 |
60,400.1 |
- |
- |
39,589.8 |
|
Long Term Debt Maturing in Year 2 |
12,497.2 |
12,139.8 |
- |
- |
7,768.2 |
|
Long Term Debt Maturing in Year 3 |
12,497.2 |
12,139.8 |
- |
- |
7,768.2 |
|
Long Term Debt Maturing in Year 4 |
12,497.2 |
12,139.8 |
- |
- |
7,768.2 |
|
Long Term Debt Maturing in Year 5 |
12,497.2 |
12,139.8 |
- |
- |
7,768.2 |
|
Long Term Debt Maturing in 2-3 Years |
24,994.4 |
24,279.6 |
- |
- |
15,536.3 |
|
Long Term Debt Maturing in 4-5 Years |
24,994.4 |
24,279.6 |
- |
- |
15,536.3 |
|
Long Term Debt Matur. in Year 6 & Beyond |
5,936.4 |
7,386.1 |
- |
- |
6,817.4 |
|
Total Capital Leases, Supplemental |
348.8 |
295.6 |
289.1 |
312.9 |
284.8 |
|
Capital Lease Payments Due in Year 1 |
34.9 |
33.0 |
44.5 |
30.7 |
21.1 |
|
Capital Lease Payments Due in Year 2 |
43.9 |
32.6 |
23.3 |
27.4 |
24.4 |
|
Capital Lease Payments Due in Year 3 |
43.9 |
32.6 |
23.3 |
27.4 |
24.4 |
|
Capital Lease Payments Due in Year 4 |
43.9 |
32.6 |
23.3 |
27.4 |
24.4 |
|
Capital Lease Payments Due in Year 5 |
43.9 |
32.6 |
23.3 |
27.4 |
24.4 |
|
Capital Lease Payments Due in 2-3 Years |
87.9 |
65.3 |
46.6 |
54.8 |
48.8 |
|
Capital Lease Payments Due in 4-5 Years |
87.9 |
65.3 |
46.6 |
54.8 |
48.8 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
138.2 |
132.0 |
151.5 |
172.5 |
166.1 |
|
Total Operating Leases, Supplemental |
3,292.2 |
3,407.5 |
- |
3,678.5 |
3,341.5 |
|
Operating Lease Payments Due in Year 1 |
1,761.5 |
1,770.5 |
- |
1,805.6 |
1,661.5 |
|
Operating Lease Payments Due in Year 2 |
382.7 |
409.3 |
- |
453.2 |
406.8 |
|
Operating Lease Payments Due in Year 3 |
382.7 |
409.3 |
- |
453.2 |
406.8 |
|
Operating Lease Payments Due in Year 4 |
382.7 |
409.3 |
- |
453.2 |
406.8 |
|
Operating Lease Payments Due in Year 5 |
382.7 |
409.3 |
- |
453.2 |
406.8 |
|
Operating Lease Pymts. Due in 2-3 Years |
765.4 |
818.5 |
- |
906.5 |
813.6 |
|
Operating Lease Pymts. Due in 4-5 Years |
765.4 |
818.5 |
- |
906.5 |
813.6 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
0.0 |
0.0 |
- |
59.9 |
52.7 |
|
Pension Obligation - Domestic |
6,553.5 |
5,911.2 |
4,503.8 |
4,868.6 |
4,265.8 |
|
Plan Assets - Domestic |
6,109.4 |
5,526.7 |
4,382.8 |
5,003.1 |
4,165.6 |
|
Funded Status - Domestic |
-444.1 |
-384.5 |
-120.9 |
134.5 |
-100.2 |
|
Unfunded Plan Obligations |
20,104.5 |
19,443.7 |
17,713.4 |
18,322.4 |
18,002.2 |
|
Total Funded Status |
-20,548.5 |
-19,828.2 |
-17,834.3 |
-18,187.9 |
-18,102.4 |
|
Other Assets, Net - Domestic |
-20,626.3 |
-19,917.2 |
- |
- |
- |
|
Net Assets Recognized on Balance Sheet |
-20,626.3 |
-19,917.2 |
- |
- |
- |
|
Equity % - Domestic |
29.80% |
29.30% |
20.10% |
35.60% |
- |
|
Debt Securities % - Domestic |
52.90% |
53.20% |
54.80% |
52.40% |
- |
|
Real Estate % - Domestic |
4.30% |
4.10% |
2.50% |
3.10% |
- |
|
Total Plan Obligations |
26,657.9 |
25,354.9 |
22,217.2 |
23,191.0 |
22,268.0 |
|
Total Plan Assets |
6,109.4 |
5,526.7 |
4,382.8 |
5,003.1 |
4,165.6 |
|
|
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified Normal |
Reclassified Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
PricewaterhouseCoopers AG |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
11,911.3 |
1,753.7 |
9,665.4 |
8,955.2 |
2,249.7 |
|
Depreciation |
10,424.1 |
10,117.6 |
10,259.2 |
7,438.7 |
7,443.1 |
|
Depreciation/Depletion |
10,424.1 |
10,117.6 |
10,259.2 |
7,438.7 |
7,443.1 |
|
Amortization of Intangibles |
2,937.4 |
2,205.7 |
2,036.0 |
2,522.5 |
2,291.2 |
|
Amortization |
2,937.4 |
2,205.7 |
2,036.0 |
2,522.5 |
2,291.2 |
|
Unusual Items |
135.1 |
-760.7 |
54.1 |
2,480.0 |
1,607.3 |
|
Equity in Net Earnings (Loss) |
-994.6 |
-414.4 |
-320.3 |
-97.2 |
-258.5 |
|
Other Non-Cash Items |
1,639.6 |
3,341.9 |
1,910.3 |
2,499.2 |
4,326.3 |
|
Non-Cash Items |
780.1 |
2,166.8 |
1,644.0 |
4,882.0 |
5,675.2 |
|
Accounts Receivable |
-6,730.4 |
-353.2 |
-9,340.6 |
-1,289.3 |
923.5 |
|
Inventories |
-3,320.2 |
5,778.5 |
-4,469.9 |
-2,540.2 |
-184.4 |
|
Other Assets |
-4,155.9 |
-3,575.6 |
-3,999.0 |
- |
- |
|
Other Liabilities |
5,382.2 |
361.6 |
1,192.1 |
3,071.3 |
878.3 |
|
Other Operating Cash Flow |
-2,058.1 |
-735.7 |
-3,035.0 |
-1,604.1 |
-1,114.2 |
|
Changes in Working Capital |
-10,882.3 |
1,475.6 |
-19,652.5 |
-2,362.3 |
503.1 |
|
Cash from Operating Activities |
15,170.6 |
17,719.3 |
3,952.1 |
21,436.1 |
18,162.3 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-7,625.7 |
-8,292.9 |
-10,086.6 |
-10,129.5 |
-7,849.6 |
|
Purchase/Acquisition of Intangibles |
-2,207.7 |
-2,709.1 |
-3,241.3 |
-1,979.1 |
-1,854.5 |
|
Capital Expenditures |
-9,833.4 |
-11,002.1 |
-13,327.9 |
-12,108.6 |
-9,704.1 |
|
Sale of Fixed Assets |
393.3 |
212.8 |
139.0 |
253.2 |
682.6 |
|
Sale/Maturity of Investment |
5.3 |
1,835.8 |
1.5 |
19.2 |
1,983.7 |
|
Investment, Net |
-2,344.1 |
1,047.2 |
628.9 |
-3,199.9 |
-1,238.4 |
|
Purchase of Investments |
-2,852.7 |
-5,547.6 |
-3,798.6 |
-1,694.4 |
-3,436.7 |
|
Other Investing Cash Flow |
- |
- |
- |
-4,910.8 |
-4,470.6 |
|
Other Investing Cash Flow Items, Total |
-4,798.2 |
-2,451.9 |
-3,029.2 |
-9,532.8 |
-6,479.5 |
|
Cash from Investing Activities |
-14,631.6 |
-13,453.9 |
-16,357.1 |
-21,641.4 |
-16,183.6 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
5.3 |
-513.2 |
-533.9 |
-16.4 |
289.8 |
|
Financing Cash Flow Items |
5.3 |
-513.2 |
-533.9 |
-16.4 |
289.8 |
|
Cash Dividends Paid - Common |
-1,056.8 |
-1,215.5 |
-1,056.1 |
-680.2 |
-565.9 |
|
Total Cash Dividends Paid |
-1,056.8 |
-1,215.5 |
-1,056.1 |
-680.2 |
-565.9 |
|
Sale/Issuance of
Common |
5,431.2 |
5.6 |
318.9 |
288.8 |
426.6 |
|
Common Stock, Net |
5,431.2 |
5.6 |
318.9 |
288.8 |
426.6 |
|
Issuance (Retirement) of Stock, Net |
5,431.2 |
5.6 |
318.9 |
288.8 |
426.6 |
|
Long Term Debt Issued |
10,475.7 |
21,685.7 |
11,220.2 |
13,024.2 |
9,981.4 |
|
Long Term Debt
Reduction |
-15,814.3 |
-14,188.2 |
-12,388.9 |
-11,611.8 |
-10,541.1 |
|
Long Term Debt, Net |
-5,508.0 |
9,419.4 |
13,152.4 |
1,485.0 |
-293.6 |
|
Issuance (Retirement) of Debt, Net |
-5,508.0 |
9,419.4 |
13,152.4 |
1,485.0 |
-293.6 |
|
Cash from Financing Activities |
-1,128.4 |
7,696.3 |
11,881.3 |
1,077.1 |
-143.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
580.1 |
264.2 |
-165.3 |
-123.2 |
-74.0 |
|
Net Change in Cash |
-10.6 |
12,227.3 |
-688.9 |
748.7 |
1,761.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
24,149.8 |
13,132.7 |
14,501.0 |
12,820.3 |
9,991.5 |
|
Net Cash - Ending Balance |
24,140.5 |
25,360.0 |
13,812.0 |
13,569.0 |
11,753.1 |
|
Cash Interest Paid |
4,038.0 |
4,411.4 |
4,978.9 |
4,015.7 |
3,995.1 |
|
Cash Taxes Paid |
2,058.1 |
735.7 |
3,035.0 |
1,604.1 |
1,114.2 |
Annual Income Statement
Financials
in: USD (mil)
Except
for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
PricewaterhouseCoopers AG |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Total Sales |
161,171.4 |
139,494.4 |
160,091.2 |
149,043.8 |
131,590.6 |
|
Interest Income |
6,857.6 |
6,792.3 |
6,372.9 |
- |
- |
|
Total Revenue |
168,028.9 |
146,286.7 |
166,464.0 |
149,043.8 |
131,590.6 |
|
|
|
|
|
|
|
|
Cost of Sales |
139,629.2 |
127,402.0 |
141,311.9 |
126,742.8 |
114,206.2 |
|
Selling/Distribution |
16,174.5 |
14,654.1 |
15,434.1 |
12,693.0 |
11,518.5 |
|
General Administrative |
4,353.2 |
3,809.2 |
4,010.7 |
3,357.3 |
2,901.0 |
|
Income from foreign currency hedging der |
-1,860.7 |
-3,083.2 |
-3,576.2 |
- |
- |
|
Income from foreign exchange gains |
-2,526.9 |
-2,258.5 |
-3,296.9 |
- |
- |
|
Income from investment property |
-78.1 |
-80.7 |
-87.8 |
- |
- |
|
Gain on Assets Disposal |
-148.3 |
-98.7 |
-42.4 |
-64.3 |
- |
|
Other operating income |
-5,514.7 |
-5,471.1 |
-5,824.4 |
-8,139.5 |
-5,914.8 |
|
Losses from foreign currency hedging der |
2,254.1 |
1,858.0 |
1,768.4 |
- |
- |
|
Foreign exchange losses |
1,783.9 |
2,550.6 |
3,737.1 |
- |
- |
|
Losses on disposal of noncurrent asset |
135.1 |
45.9 |
86.3 |
- |
- |
|
Other Expenses |
4,369.1 |
4,379.4 |
3,680.1 |
6,035.8 |
6,359.0 |
|
Total Operating Expense |
158,570.3 |
143,706.9 |
157,200.9 |
140,625.2 |
129,069.8 |
|
|
|
|
|
|
|
|
Participations |
2,574.6 |
974.9 |
1,331.0 |
1,004.6 |
468.0 |
|
Interest Expense |
-2,839.4 |
-3,154.2 |
-2,654.8 |
-2,254.2 |
-1,990.0 |
|
Other Investment Income, Net |
- |
- |
- |
- |
-89.1 |
|
Income from profit and loss transfer agr |
31.8 |
32.0 |
29.3 |
- |
- |
|
Cost of loss absorption |
-19.9 |
-77.9 |
-52.7 |
- |
- |
|
Other income from equity investments |
11.9 |
61.2 |
65.8 |
- |
- |
|
Other expenses from equity investments |
-47.7 |
-43.1 |
-51.2 |
- |
- |
|
Income from marketable securities and lo |
113.9 |
47.3 |
21.9 |
- |
- |
|
Other Interest Income |
936.3 |
1,026.4 |
2,157.4 |
1,335.8 |
835.7 |
|
financial instruments Gains and losses f |
91.4 |
58.4 |
-356.9 |
- |
- |
|
Gains & losses from fair value remeassur |
1,650.2 |
317.1 |
-76.1 |
- |
- |
|
Gains and losses on hedges |
-49.0 |
-69.5 |
-11.7 |
- |
- |
|
Other Financial Result |
- |
- |
- |
450.3 |
199.5 |
|
Income from Securities |
- |
- |
- |
- |
304.9 |
|
Net Income Before Taxes |
11,912.7 |
1,752.3 |
9,665.4 |
8,955.2 |
2,249.7 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
2,340.2 |
485.4 |
2,808.3 |
3,313.5 |
-203.3 |
|
Net Income After Taxes |
9,572.5 |
1,267.0 |
6,857.0 |
5,641.6 |
2,453.0 |
|
|
|
|
|
|
|
|
Minority Interest |
-519.2 |
68.1 |
95.1 |
-2.7 |
-1.3 |
|
Net Income Before Extra. Items |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
2,451.8 |
|
Discontinued Operations |
- |
- |
- |
0.0 |
997.5 |
|
Net Income |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
3,449.3 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
2,451.8 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
3,449.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
449.9 |
402.6 |
398.1 |
394.3 |
387.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
20.12 |
3.32 |
17.46 |
14.30 |
6.32 |
|
Basic EPS Including ExtraOrdinary Item |
20.12 |
3.32 |
17.46 |
14.30 |
8.90 |
|
Diluted Net Income |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
3,449.3 |
|
Diluted Weighted Average Shares |
449.9 |
402.7 |
399.7 |
397.7 |
389.8 |
|
Diluted EPS Excluding ExtraOrd Items |
20.12 |
3.32 |
17.39 |
14.18 |
6.29 |
|
Diluted EPS Including ExtraOrd Items |
20.12 |
3.32 |
17.39 |
14.18 |
8.85 |
|
DPS-Ordinary Shares |
2.91 |
2.23 |
2.82 |
2.46 |
1.57 |
|
DPS-Preference Shares |
2.99 |
2.29 |
2.89 |
2.53 |
1.63 |
|
Gross Dividends - Common Stock |
1,369.4 |
899.8 |
1,139.4 |
985.4 |
623.6 |
|
Normalized Income Before Taxes |
13,622.4 |
2,521.4 |
9,709.2 |
8,890.9 |
2,249.7 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
2,676.0 |
698.4 |
2,821.1 |
3,289.7 |
-203.3 |
|
Normalized Income After Taxes |
10,946.4 |
1,823.0 |
6,888.1 |
5,601.1 |
2,453.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
10,427.3 |
1,891.2 |
6,983.2 |
5,598.4 |
2,451.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
23.18 |
4.70 |
17.54 |
14.20 |
6.32 |
|
Diluted Normalized EPS |
23.17 |
4.70 |
17.47 |
14.08 |
6.29 |
|
Interest Expenses |
2,839.4 |
3,154.2 |
2,654.8 |
2,254.2 |
1,990.0 |
|
Depreciation |
9,273.2 |
9,170.5 |
9,296.8 |
6,610.7 |
6,598.7 |
|
Amortisation of Intangibles |
2,515.0 |
2,415.7 |
2,545.1 |
2,174.8 |
1,934.8 |
|
Amortisation of Acquisition Costs |
- |
- |
- |
- |
0.0 |
|
Research & Development Expenses |
9,093.1 |
7,550.3 |
7,462.6 |
7,281.3 |
5,756.7 |
|
Rental Expense |
834.4 |
757.9 |
535.3 |
- |
- |
|
Current Tax - Germany |
2,276.6 |
706.5 |
1,981.9 |
2,563.5 |
-574.7 |
|
Current Tax - Foreign |
2,034.2 |
1,129.3 |
1,589.9 |
1,368.7 |
997.5 |
|
Current Tax - Other |
-386.7 |
-244.8 |
-152.1 |
-176.6 |
-156.8 |
|
Current Tax - Total |
3,924.1 |
1,591.0 |
3,419.7 |
3,755.6 |
266.0 |
|
Deferred Tax - Germany |
-565.5 |
-500.7 |
-125.8 |
142.3 |
-522.0 |
|
Deferred Tax - Foreign |
-1,017.1 |
-606.4 |
-485.6 |
-584.4 |
52.7 |
|
Deferred Tax - Total |
-1,582.6 |
-1,107.0 |
-611.4 |
-442.1 |
-469.3 |
|
Income Tax - Total |
2,341.5 |
484.0 |
2,808.3 |
3,313.5 |
-203.3 |
|
Current Service Cost |
484.7 |
477.0 |
473.9 |
459.9 |
- |
|
Interest Cost |
1,287.3 |
1,276.7 |
1,293.0 |
1,089.5 |
- |
|
Expected Return on Plan Assets |
-327.1 |
-282.3 |
-314.5 |
-297.0 |
- |
|
Past Service Cost |
4.0 |
-45.9 |
24.9 |
13.7 |
- |
|
Gains from Plan Curtailments |
-31.8 |
-1.4 |
2.9 |
-34.2 |
- |
|
Gains/Losses from Application of IAS |
-10.6 |
5.6 |
20.5 |
-10.9 |
- |
|
Domestic Pension Plan Expense |
1,406.5 |
1,429.7 |
1,500.7 |
1,220.9 |
- |
|
Total Pension Expense |
1,406.5 |
1,429.7 |
1,500.7 |
1,220.9 |
- |
|
Discount Rate |
4.90% |
5.40% |
5.75% |
5.50% |
- |
|
Expected Return on Plan Assets |
4.25% |
5.00% |
5.00% |
5.00% |
- |
|
Salary Trend |
2.70% |
2.50% |
2.50% |
2.50% |
- |
|
Pension Trend |
1.00% |
1.00% |
1.00% |
1.00% |
- |
|
Discount Rate/Abroad |
1.20% |
1.20% |
2.00% |
2.00% |
- |
|
Expected Return on Plan Assets/Abroad |
3.00% |
4.00% |
2.00% |
2.00% |
- |
|
Salary Trend/Abroad |
1.60% |
1.50% |
1.50% |
2.00% |
- |
|
Pension Trend/Abroad |
0.80% |
0.80% |
0.80% |
2.20% |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
0.683971 |
0.758351 |
|
Auditor |
PricewaterhouseCoopers AG |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash in Banks |
24,986.4 |
29,421.0 |
12,535.5 |
- |
- |
|
Cash/Equivalents |
60.4 |
47.3 |
633.9 |
14,784.2 |
12,351.8 |
|
Securities |
7,379.9 |
4,777.7 |
5,240.5 |
9,671.5 |
6,713.2 |
|
Raw Materials |
3,345.8 |
2,912.5 |
2,792.6 |
3,253.1 |
2,717.7 |
|
Work in Progress |
2,464.4 |
2,281.3 |
2,301.9 |
1,995.7 |
1,770.9 |
|
Finished Goods |
14,514.2 |
12,686.1 |
17,231.1 |
15,241.9 |
11,933.8 |
|
Current Leased Assets |
3,313.6 |
2,259.7 |
2,367.3 |
- |
- |
|
Pay. on Account |
14.8 |
123.4 |
72.3 |
23.4 |
11.9 |
|
Trade Receivables |
9,233.9 |
8,166.6 |
8,297.2 |
8,320.5 |
6,657.9 |
|
Financial Service Receivables |
40,466.5 |
39,316.5 |
37,580.0 |
36,425.5 |
30,890.7 |
|
Receivables to Affiliates/Join Ventures |
2,055.3 |
2,086.1 |
4,327.2 |
- |
- |
|
Other Assets |
4,266.1 |
4,487.9 |
7,764.8 |
- |
- |
|
Other Receivables |
2,539.6 |
1,929.7 |
1,903.0 |
9,727.0 |
7,347.5 |
|
Current Tax Receivables |
646.6 |
1,093.3 |
1,423.4 |
731.0 |
344.2 |
|
Assets Held for Sale |
- |
0.0 |
1,399.8 |
0.0 |
- |
|
Total Current Assets |
115,287.4 |
111,589.1 |
105,870.4 |
100,173.8 |
80,739.6 |
|
|
|
|
|
|
|
|
Goodwill, Net |
4,574.7 |
4,202.4 |
3,851.8 |
- |
- |
|
Intangibles |
25,199.7 |
26,372.1 |
23,925.5 |
- |
- |
|
Concessions, Rights & Licences |
-12,194.7 |
-12,056.2 |
-10,692.3 |
98.0 |
83.1 |
|
Cap. Costs for Prod Under Develop. |
- |
- |
- |
2,833.5 |
2,468.5 |
|
Cap. Costs for Products In Use |
- |
- |
- |
15,307.7 |
13,379.0 |
|
Other Intangible Assets |
- |
- |
- |
2,003.0 |
1,695.8 |
|
Amortisation |
- |
- |
- |
-10,550.2 |
-8,398.5 |
|
Goodwill |
- |
- |
- |
293.9 |
257.1 |
|
Amortisation |
- |
- |
- |
- |
0.0 |
|
Land/Buildings |
24,798.6 |
24,841.3 |
22,486.8 |
21,088.6 |
18,647.0 |
|
Tech. Eqp./Mach. |
40,690.6 |
41,157.2 |
36,910.0 |
36,621.4 |
32,357.0 |
|
Factory/Off.Eqp. |
51,740.9 |
51,889.2 |
47,160.2 |
47,692.1 |
41,288.3 |
|
Construction |
4,244.7 |
4,350.2 |
4,293.9 |
2,684.3 |
2,001.7 |
|
Depreciation |
-86,799.6 |
-87,168.2 |
-78,711.6 |
-79,813.3 |
-67,472.7 |
|
Leasing/Rental |
- |
- |
- |
11,958.1 |
10,398.9 |
|
Leasing/Rental Assets |
21,281.0 |
19,713.5 |
17,646.7 |
- |
- |
|
Investment property |
575.5 |
548.1 |
424.0 |
- |
- |
|
Accumulated Depreciation on Leasing prop |
-5,672.1 |
-5,190.9 |
-4,115.9 |
- |
- |
|
Investment Property |
- |
- |
- |
222.2 |
201.8 |
|
Investment in Co's Using Equity Method |
18,148.5 |
14,899.9 |
8,858.8 |
11,396.7 |
9,067.0 |
|
Other Equity Investments |
858.6 |
779.1 |
810.4 |
801.2 |
540.6 |
|
Other Receivables & Fin. Assets |
10,087.1 |
5,376.0 |
4,708.1 |
3,532.3 |
2,634.7 |
|
Financial Services Receivable |
48,050.3 |
47,596.4 |
44,280.0 |
40,238.5 |
34,878.3 |
|
Non-Current Tax Receivables |
924.3 |
982.8 |
1,060.6 |
1,391.9 |
1,358.2 |
|
Deferred Taxes |
5,698.9 |
4,322.9 |
4,648.3 |
4,545.5 |
4,006.1 |
|
Total Assets |
267,494.3 |
254,204.7 |
233,415.8 |
212,519.2 |
180,131.5 |
|
|
|
|
|
|
|
|
Trade Payables |
16,828.4 |
14,670.3 |
13,450.1 |
13,303.2 |
10,799.7 |
|
Bonds |
12,536.8 |
15,519.7 |
9,904.1 |
10,151.0 |
9,879.3 |
|
Capital Leases |
34.9 |
33.0 |
44.5 |
30.7 |
21.1 |
|
Other Financial Debt |
40,893.1 |
42,706.8 |
40,264.2 |
31,745.5 |
29,689.4 |
|
Provision for Taxes |
2,786.4 |
1,396.0 |
1,612.5 |
2,672.6 |
- |
|
Current Tax Payables |
383.7 |
104.7 |
82.0 |
143.3 |
44.8 |
|
Accrued Expenses |
4,564.0 |
3,582.6 |
3,414.0 |
- |
- |
|
Due to Affiliate |
398.4 |
460.6 |
230.7 |
- |
- |
|
Advance Payments |
2,571.8 |
1,753.3 |
1,609.7 |
- |
- |
|
Other Liabilities |
6,722.5 |
6,021.6 |
6,623.6 |
10,357.2 |
8,351.0 |
|
Current Provisions |
15,445.3 |
13,515.3 |
11,777.9 |
13,570.7 |
11,742.6 |
|
Liabs Held for Sale |
- |
0.0 |
1,064.8 |
0.0 |
- |
|
Total Current Liabilities |
103,165.2 |
99,763.9 |
90,078.0 |
81,974.2 |
70,528.0 |
|
|
|
|
|
|
|
|
Bonds |
26,015.3 |
30,710.8 |
27,345.1 |
29,773.2 |
25,287.8 |
|
Capital Leases |
313.9 |
262.6 |
244.6 |
282.2 |
263.7 |
|
Other LT Financial Debt |
23,521.4 |
22,102.3 |
18,639.2 |
12,804.6 |
12,338.6 |
|
Total Long Term Debt |
49,850.7 |
53,075.7 |
46,228.9 |
42,860.0 |
37,890.1 |
|
|
|
|
|
|
|
|
Minority Interest |
3,667.8 |
3,083.3 |
3,304.1 |
92.1 |
72.5 |
|
Pension Provision |
20,702.8 |
19,994.7 |
18,008.1 |
18,426.2 |
18,268.6 |
|
Tax Provision |
4,843.0 |
5,661.5 |
4,941.6 |
3,326.2 |
3,410.0 |
|
Provisions |
14,985.1 |
14,473.8 |
12,611.9 |
12,099.9 |
9,357.1 |
|
Deferred Tax |
2,239.0 |
3,190.9 |
5,079.2 |
3,855.4 |
2,840.4 |
|
Other Liabilities |
6,361.6 |
4,344.4 |
4,496.8 |
3,282.3 |
2,287.9 |
|
Total Liabilities |
205,815.2 |
203,588.2 |
184,748.8 |
165,916.4 |
144,654.6 |
|
|
|
|
|
|
|
|
Share Capital |
1,597.8 |
1,470.6 |
1,423.4 |
1,484.0 |
1,323.9 |
|
Paid in Capital |
12,511.3 |
7,684.5 |
7,438.2 |
7,517.9 |
6,516.8 |
|
Retained Earnings |
50,555.0 |
45,348.1 |
39,805.5 |
37,601.0 |
27,636.3 |
|
Currency Adj Res |
-221.4 |
-2,698.8 |
- |
- |
- |
|
Reserves |
-2,952.8 |
-1,827.9 |
- |
- |
- |
|
C/F Hedge Res. |
81.8 |
1,233.9 |
- |
- |
- |
|
Fair value reserve for securities |
-33.5 |
-1.4 |
- |
- |
- |
|
Equity accounted investment |
143.5 |
-586.8 |
- |
- |
- |
|
Adjustment |
- |
-2.9 |
- |
- |
- |
|
Total Equity |
61,681.8 |
50,619.4 |
48,667.0 |
46,602.8 |
35,477.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
267,497.0 |
254,207.6 |
233,415.8 |
212,519.2 |
180,131.5 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
295.0 |
295.0 |
294.9 |
291.3 |
287.0 |
|
S/O-Preference Shares |
170.1 |
105.9 |
105.9 |
105.9 |
105.9 |
|
Total Common Shares Outstanding |
465.2 |
400.9 |
400.8 |
397.2 |
392.9 |
|
Deferred Revenue - Current |
2,571.8 |
1,753.3 |
1,609.7 |
- |
- |
|
Accumulated Intangible Amortization |
12,194.7 |
12,056.2 |
10,692.3 |
10,550.2 |
8,398.5 |
|
Accumulated Goodwill Amortization |
- |
- |
- |
- |
0.0 |
|
Full-Time Employees |
399,381 |
368,500 |
369,928 |
329,305 |
324,875 |
|
Financial Debt within 1 Year |
56,858.9 |
60,400.1 |
- |
- |
39,589.8 |
|
Financial Debt 1-5 Years |
49,988.8 |
48,559.1 |
- |
- |
31,072.7 |
|
Financial Debt over 5 Years |
5,936.4 |
7,386.1 |
- |
- |
6,817.4 |
|
Total Long Term Debt, Supplemental |
112,784.1 |
116,345.3 |
- |
- |
77,479.9 |
|
Capital Lease within 1 Year |
34.9 |
33.0 |
44.5 |
30.7 |
21.1 |
|
Capital Lease from 1-5 Years |
175.7 |
130.6 |
93.1 |
109.7 |
97.6 |
|
Capital Lease over 5 Years |
138.2 |
132.0 |
151.5 |
172.5 |
166.1 |
|
Total Capital Leases |
348.8 |
295.6 |
289.1 |
312.9 |
284.8 |
|
Operating Lease within 1 Year |
1,761.5 |
1,770.5 |
- |
1,805.6 |
1,661.5 |
|
Operating Lease from 1-5 Years |
1,530.7 |
1,637.0 |
- |
1,812.9 |
1,627.2 |
|
Operating Lease over 5 Years |
0.0 |
0.0 |
- |
59.9 |
52.7 |
|
Total Operating Leases |
3,292.2 |
3,407.5 |
- |
3,678.5 |
3,341.5 |
|
Present Value of Funded Obligations |
6,553.5 |
5,911.2 |
4,503.8 |
4,868.6 |
4,265.8 |
|
FV of Plan Assets |
6,109.4 |
5,526.7 |
4,382.8 |
5,003.1 |
4,165.6 |
|
Funded Status |
-444.1 |
-384.5 |
-120.9 |
134.5 |
-100.2 |
|
Unfunded Obligations |
20,104.5 |
19,443.7 |
17,713.4 |
18,322.4 |
18,002.2 |
|
Total Funded Status |
-20,548.5 |
-19,828.2 |
-17,834.3 |
-18,187.9 |
-18,102.4 |
|
Discount Rate |
4.90% |
5.40% |
5.75% |
5.50% |
- |
|
Expected Return on Plan Assets |
4.25% |
5.00% |
5.00% |
5.00% |
- |
|
Salary Trend |
2.70% |
2.50% |
2.50% |
2.50% |
- |
|
Pension Trend |
1.00% |
1.00% |
1.00% |
1.00% |
- |
|
Discount Rate/Abroad |
1.20% |
1.20% |
2.00% |
2.00% |
- |
|
Expected Return on Plan Assets/Abroad |
3.00% |
4.00% |
2.00% |
2.00% |
- |
|
Salary Trend/Abroad |
1.60% |
1.50% |
1.50% |
2.00% |
- |
|
Pension Trend/Abroad |
0.80% |
0.80% |
0.80% |
2.20% |
- |
|
Provision for Pension |
-20,702.8 |
-19,994.7 |
- |
- |
- |
|
Other Assets |
76.5 |
77.5 |
- |
- |
- |
|
Net Assets Recognized on Balance Sheet |
-20,626.3 |
-19,917.2 |
- |
- |
- |
|
Equities |
29.80% |
29.30% |
20.10% |
35.60% |
- |
|
Fixed-Income Securities |
52.90% |
53.20% |
54.80% |
52.40% |
- |
|
Cash |
8.00% |
7.40% |
18.70% |
5.00% |
- |
|
Real Estate |
4.30% |
4.10% |
2.50% |
3.10% |
- |
|
Other Assets |
5.10% |
6.00% |
3.90% |
3.90% |
- |
Annual Cash Flows
Financials in: USD
(mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified Normal |
Reclassified Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
PricewaterhouseCoopers AG |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Profit before Tax |
11,911.3 |
1,753.7 |
9,665.4 |
8,955.2 |
2,249.7 |
|
Depreciation |
10,424.1 |
10,117.6 |
10,259.2 |
7,438.7 |
7,443.1 |
|
Income Tax Paid |
-2,058.1 |
-735.7 |
-3,035.0 |
-1,604.1 |
-1,114.2 |
|
Amort. Cap. Dev Cost |
2,937.4 |
2,205.7 |
2,036.0 |
2,522.5 |
2,291.2 |
|
Depreciation of Financial Assets |
10.6 |
22.3 |
46.8 |
246.4 |
43.9 |
|
Depreciation of Assets & Property |
- |
- |
- |
2,436.2 |
2,013.9 |
|
Provisions |
3,514.9 |
2,308.6 |
744.5 |
2,267.9 |
4,259.8 |
|
Sale Non-Curr Assets |
135.1 |
-760.7 |
54.1 |
43.8 |
-406.5 |
|
Retained Group Earnings |
-994.6 |
-414.4 |
-320.3 |
-97.2 |
-258.5 |
|
Other Exp./Inc. |
-1,885.9 |
1,011.1 |
1,118.9 |
-15.1 |
16.3 |
|
Inventories |
-3,320.2 |
5,778.5 |
-4,469.9 |
-2,540.2 |
-184.4 |
|
Rcvbls. (excl. Fin.) |
-2,622.2 |
646.7 |
-1,949.7 |
-1,289.3 |
923.5 |
|
Liab's(excl Borrow.) |
5,382.2 |
361.6 |
1,192.1 |
3,071.3 |
878.3 |
|
Leasing and Rental assets |
-4,155.9 |
-3,575.6 |
-3,999.0 |
- |
- |
|
Financial Service Receivables |
-4,108.2 |
-999.9 |
-7,390.9 |
- |
- |
|
Change Scope Consol. |
- |
- |
- |
- |
6.3 |
|
Cash from Operating Activities |
15,170.6 |
17,719.3 |
3,952.1 |
21,436.1 |
18,162.3 |
|
|
|
|
|
|
|
|
Acq. Tang./Intang. |
-7,625.7 |
-8,292.9 |
-10,086.6 |
-6,347.9 |
-4,677.7 |
|
Capitalized Development Cost |
-2,207.7 |
-2,709.1 |
-3,241.3 |
-1,979.1 |
-1,854.5 |
|
Acq. Investments |
-2,852.7 |
-5,547.6 |
-3,798.6 |
-1,694.4 |
-3,412.9 |
|
Disposal of Equity Investments |
5.3 |
1,835.8 |
1.5 |
19.2 |
1,983.7 |
|
Financial Assets |
- |
- |
- |
- |
-23.8 |
|
Leasing/Rental Asset |
- |
- |
- |
-3,781.6 |
-3,172.0 |
|
Fin. Services Rcvbl. |
- |
- |
- |
-4,910.8 |
-4,470.6 |
|
Sale Non-Curr Assets |
393.3 |
212.8 |
139.0 |
253.2 |
682.6 |
|
Invest. Securities |
-4,338.6 |
1,375.4 |
2,985.3 |
-2,384.2 |
-1,238.4 |
|
Change in loans and time deposits |
1,994.5 |
-328.2 |
-2,356.4 |
-815.7 |
- |
|
Cash from Investing Activities |
-14,631.6 |
-13,453.9 |
-16,357.1 |
-21,641.4 |
-16,183.6 |
|
|
|
|
|
|
|
|
Capital Increase |
5,431.2 |
5.6 |
318.9 |
288.8 |
426.6 |
|
Dividends Paid |
-1,056.8 |
-1,215.5 |
-1,056.1 |
-680.2 |
-565.9 |
|
Capital Transactions/Minority Interest |
0.0 |
-545.2 |
-529.5 |
0.0 |
- |
|
Other Equity |
5.3 |
32.0 |
-4.4 |
-16.4 |
-28.9 |
|
Take -up of Bonds |
10,475.7 |
21,685.7 |
11,220.2 |
13,024.2 |
9,981.4 |
|
Repayment of Bonds |
-15,814.3 |
-14,188.2 |
-12,388.9 |
-11,611.8 |
-10,541.1 |
|
Other Borrowings |
-137.7 |
1,954.0 |
14,343.0 |
127.3 |
287.3 |
|
Fin. Lease Repayment |
-31.8 |
-32.0 |
-21.9 |
-54.7 |
-21.3 |
|
Loans to Group Co.s |
- |
- |
- |
- |
318.7 |
|
Cash from Financing Activities |
-1,128.4 |
7,696.3 |
11,881.3 |
1,077.1 |
-143.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
580.1 |
264.2 |
-165.3 |
-123.2 |
-74.0 |
|
Net Change in Cash |
-10.6 |
12,227.3 |
-688.9 |
748.7 |
1,761.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
24,149.8 |
13,132.7 |
14,501.0 |
12,820.3 |
9,991.5 |
|
Net Cash - Ending Balance |
24,140.5 |
25,360.0 |
13,812.0 |
13,569.0 |
11,753.1 |
|
Cash Interest Paid |
4,038.0 |
4,411.4 |
4,978.9 |
4,015.7 |
3,995.1 |
|
Cash Taxes Paid |
2,058.1 |
735.7 |
3,035.0 |
1,604.1 |
1,114.2 |
Financial Health
Financials
in: USD (mil)
Except
for share items (millions) and per share items (actual units)
|
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Ratio Comparisons
Traded: Over The Counter:
VLKAY Financials
in: USD (actual units)
Industry: Auto & Truck
Manufacturers As
of 22-Jul-2011
Sector: Consumer
Cyclical
Company Industry Sector S&P
500
Valuation Ratios
P/E Excluding Extraordinary (TTM) 7.92 22.96 24.19 19.68
P/E High Excluding Extraordinary - Last 5 Yrs 32.74 63.34 29.06 32.79
P/E Low Excluding Extraordinary - Last 5 Yrs 7.02 9.00 9.37 10.71
Beta - 2.11 1.71 1.00
Price/Revenue (TTM) 0.48 0.89 1.29 2.57
Price/Book (MRQ) 1.29 3.49 3.76 3.67
Price to Tangible Book (MRQ) 1.87 9.67 6.82 5.21
Price to Cash Flow Per Share (TTM) 3.54 14.40 15.89 14.22
Price to Free Cash Flow Per Share (TTM) 19.53 17.13 22.86 26.26
Dividends
Dividend Yield 1.55% 0.91% 1.69% 2.26%
Dividend Per Share - 5 Yr Avg 0.50 1.88 1.64 1.99
Dividend 5 Yr Growth 13.85% -80.07% -29.80% 0.08%
Payout Ratio (TTM) 12.91% 4.72% 13.41% 25.98%
Growth Rates (%)
Revenue (MRQ) vs Qtr 1 Yr Ago 30.80% 14.82% 17.88% 15.58%
Revenue (TTM) vs TTM 1 Yr Ago 23.55% 7.10% 15.15% 17.69%
Revenue 5 Yr Growth 6.18% -5.43% 1.89% 8.97%
EPS (MRQ) vs Qtr 1 Yr Ago 227.87% -17.23% -0.73% 19.49%
EPS (TTM) vs TTM 1 Yr Ago 515.14% 67.26% 48.61% 32.55%
EPS 5 Yr Growth 40.94% -14.46% 0.58% 9.86%
Capital Spending 5 Yr Growth 4.83% -4.63% -1.26% -2.04%
Financial Strength
Quick Ratio (MRQ) 0.87 1.09 1.36 1.24
Current Ratio (MRQ) 1.12 1.64 2.26 1.79
LT Debt/Equity (MRQ) 0.78 0.28 0.52 0.64
Total Debt/Equity (MRQ) 1.33 0.50 0.65 0.73
Interest Coverage (TTM) - 7.23 7.89 13.80
Profitability
Ratios (%)
Gross Margin (TTM) 18.04% 13.08% 26.74% 45.21%
Gross Margin - 5 Yr Avg 12.46% 17.18% 29.20% 44.91%
EBITD Margin (TTM) 14.22% 3.68% 8.96% 24.43%
EBITD Margin - 5 Yr Avg 11.65% 5.57% 9.28% 22.84%
Operating Margin (TTM) 6.78% 2.05% 6.73% 20.63%
Operating Margin - 5 Yr Avg 4.20% -2.20% 5.31% 18.28%
Pretax Margin (TTM) 7.75% 3.20% 6.58% 17.95%
Pretax Margin - 5 Yr Avg 4.50% -0.85% 5.03% 17.10%
Net Profit Margin (TTM) 6.24% 2.68% 4.89% 13.65%
Net Profit Margin - 5 Yr Avg 3.38% -0.33% 3.66% 12.10%
Effective Tax Rate (TTM) 19.48% 14.43% 24.56% 28.45%
Effective Tax rate - 5 Yr Avg 24.98% 24.36% 31.05% 29.92%
Management
Effectiveness (%)
Return on Assets (TTM) 4.22% 0.82% 5.40% 8.54%
Return on Assets - 5 Yr Avg 2.38% 0.85% 5.11% 8.40%
Return on Investment (TTM) 7.12% 1.79% 5.61% 7.90%
Return on Investment - 5 Yr Avg 3.95% -0.43% 4.46% 8.27%
Return on Equity (TTM) 18.01% 4.61% 13.72% 19.72%
Return on Equity - 5 Yr Avg 11.37% 20.19% 15.21% 20.06%
Efficiency
Revenue/Employee (TTM) 487,671.90 621,295.07 495,155.30 927,613.77
Net Income/Employee (TTM) 30,432.33 21,076.53 35,593.51 116,121.92
Receivables Turnover (TTM) 16.63 7.30 7.92 13.25
Inventory Turnover (TTM) 6.03 19.64 12.48 14.53
Asset Turnover (TTM) 0.68 0.80 1.11 0.93
Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per
share items (actual units)
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Stock Report
Stock
Snapshot
Traded: Over The Counter: VLKAY
As of 22-Jul-2011
US Dollars
Recent Price $39.16 EPS $4.36
52 Week High $39.31 Price/Sales 0.52
52 Week Low $17.57 Dividend Rate $0.61
Avg. Volume (mil) 0.06 Price/Earnings 6.29
Market Value (mil) $94,397.95 Price/Book 1.38
Price % Change Rel S&P 500%
4 Week 12.30%
13 Week 21.61%
52 Week 105.03%
Year to Date 37.16%
2 Year Weekly End Price &
Volume
Tooltip
Tooltip
Stock History
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Annual Income Statement
Standardized
Financials
in: USD (mil)
Except
for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
PricewaterhouseCoopers AG |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
161,171.4 |
139,494.4 |
160,091.2 |
149,043.8 |
131,590.6 |
|
Revenue |
161,171.4 |
139,494.4 |
160,091.2 |
149,043.8 |
131,590.6 |
|
Interest Income, Non-Bank |
6,857.6 |
6,792.3 |
6,372.9 |
- |
- |
|
Other Revenue, Total |
6,857.6 |
6,792.3 |
6,372.9 |
- |
- |
|
Total Revenue |
168,028.9 |
146,286.7 |
166,464.0 |
149,043.8 |
131,590.6 |
|
|
|
|
|
|
|
|
Cost of Revenue |
139,629.2 |
127,402.0 |
141,311.9 |
126,742.8 |
114,206.2 |
|
Cost of Revenue, Total |
139,629.2 |
127,402.0 |
141,311.9 |
126,742.8 |
114,206.2 |
|
Gross Profit |
21,542.1 |
12,092.4 |
18,779.3 |
22,301.1 |
17,384.4 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
20,527.7 |
18,463.3 |
19,444.8 |
16,050.4 |
14,419.4 |
|
Total Selling/General/Administrative Expenses |
20,527.7 |
18,463.3 |
19,444.8 |
16,050.4 |
14,419.4 |
|
Investment Income - Operating |
-427.8 |
-1,013.8 |
-1,455.4 |
- |
- |
|
Interest/Investment Income - Operating |
-427.8 |
-1,013.8 |
-1,455.4 |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
-427.8 |
-1,013.8 |
-1,455.4 |
- |
- |
|
Loss (Gain) on Sale of Assets - Operating |
-13.2 |
-52.8 |
43.9 |
-64.3 |
- |
|
Unusual Expense (Income) |
-13.2 |
-52.8 |
43.9 |
-64.3 |
- |
|
Other Operating Expense |
4,369.1 |
4,379.4 |
3,680.1 |
6,035.8 |
6,359.0 |
|
Other, Net |
-5,514.7 |
-5,471.1 |
-5,824.4 |
-8,139.5 |
-5,914.8 |
|
Other Operating Expenses, Total |
-1,145.6 |
-1,091.7 |
-2,144.3 |
-2,103.6 |
444.2 |
|
Total Operating Expense |
158,570.3 |
143,706.9 |
157,200.9 |
140,625.2 |
129,069.8 |
|
|
|
|
|
|
|
|
Operating Income |
9,458.6 |
2,579.8 |
9,263.1 |
8,418.7 |
2,520.8 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-2,839.4 |
-3,154.2 |
-2,654.8 |
-2,254.2 |
-1,990.0 |
|
Interest Expense, Net Non-Operating |
-2,839.4 |
-3,154.2 |
-2,654.8 |
-2,254.2 |
-1,990.0 |
|
Interest Income -
Non-Operating |
936.3 |
1,026.4 |
2,157.4 |
1,335.8 |
835.7 |
|
Investment Income -
Non-Operating |
4,357.2 |
1,300.3 |
899.5 |
1,004.6 |
683.8 |
|
Interest/Investment Income - Non-Operating |
5,293.5 |
2,326.7 |
3,057.0 |
2,340.4 |
1,519.5 |
|
Interest Income (Expense) - Net Non-Operating
Total |
2,454.1 |
-827.5 |
402.2 |
86.2 |
-470.5 |
|
Other Non-Operating Income (Expense) |
- |
- |
- |
450.3 |
199.5 |
|
Other, Net |
- |
- |
- |
450.3 |
199.5 |
|
Income Before Tax |
11,912.7 |
1,752.3 |
9,665.4 |
8,955.2 |
2,249.7 |
|
|
|
|
|
|
|
|
Total Income Tax |
2,340.2 |
485.4 |
2,808.3 |
3,313.5 |
-203.3 |
|
Income After Tax |
9,572.5 |
1,267.0 |
6,857.0 |
5,641.6 |
2,453.0 |
|
|
|
|
|
|
|
|
Minority Interest |
-519.2 |
68.1 |
95.1 |
-2.7 |
-1.3 |
|
Net Income Before Extraord Items |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
2,451.8 |
|
Discontinued Operations |
- |
- |
- |
0.0 |
997.5 |
|
Total Extraord Items |
- |
- |
- |
0.0 |
997.5 |
|
Net Income |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
3,449.3 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
2,451.8 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
3,449.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
449.9 |
402.6 |
398.1 |
394.3 |
387.8 |
|
Basic EPS Excl Extraord Items |
20.12 |
3.32 |
17.46 |
14.30 |
6.32 |
|
Basic/Primary EPS Incl Extraord Items |
20.12 |
3.32 |
17.46 |
14.30 |
8.90 |
|
Diluted Net Income |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
3,449.3 |
|
Diluted Weighted Average Shares |
449.9 |
402.7 |
399.7 |
397.7 |
389.8 |
|
Diluted EPS Excl Extraord Items |
20.12 |
3.32 |
17.39 |
14.18 |
6.29 |
|
Diluted EPS Incl Extraord Items |
20.12 |
3.32 |
17.39 |
14.18 |
8.85 |
|
Dividends per Share - Common Stock Primary Issue |
2.91 |
2.23 |
2.82 |
2.46 |
1.57 |
|
Dividends per Share - Common Stock Issue 2 |
2.99 |
2.29 |
2.89 |
2.53 |
1.63 |
|
Gross Dividends - Common Stock |
1,369.4 |
899.8 |
1,139.4 |
985.4 |
623.6 |
|
Interest Expense, Supplemental |
2,839.4 |
3,154.2 |
2,654.8 |
2,254.2 |
1,990.0 |
|
Depreciation, Supplemental |
9,273.2 |
9,170.5 |
9,296.8 |
6,610.7 |
6,598.7 |
|
Total Special Items |
1,709.8 |
769.1 |
43.9 |
-64.3 |
0.0 |
|
Normalized Income Before Tax |
13,622.4 |
2,521.4 |
9,709.2 |
8,890.9 |
2,249.7 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
335.9 |
213.0 |
12.7 |
-23.8 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
2,676.0 |
698.4 |
2,821.1 |
3,289.7 |
-203.3 |
|
Normalized Income After Tax |
10,946.4 |
1,823.0 |
6,888.1 |
5,601.1 |
2,453.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
10,427.3 |
1,891.2 |
6,983.2 |
5,598.4 |
2,451.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
23.18 |
4.70 |
17.54 |
14.20 |
6.32 |
|
Diluted Normalized EPS |
23.17 |
4.70 |
17.47 |
14.08 |
6.29 |
|
Amort of Acquisition Costs, Supplemental |
- |
- |
- |
- |
0.0 |
|
Amort of Intangibles, Supplemental |
2,515.0 |
2,415.7 |
2,545.1 |
2,174.8 |
1,934.8 |
|
Rental Expenses |
834.4 |
757.9 |
535.3 |
- |
- |
|
Research & Development Exp, Supplemental |
9,093.1 |
7,550.3 |
7,462.6 |
7,281.3 |
5,756.7 |
|
Normalized EBIT |
10,740.6 |
2,335.0 |
7,851.6 |
8,354.3 |
2,520.8 |
|
Normalized EBITDA |
22,528.8 |
13,921.2 |
19,693.4 |
17,139.8 |
11,054.2 |
|
Current Tax - Domestic |
2,276.6 |
706.5 |
1,981.9 |
2,563.5 |
-574.7 |
|
Current Tax - Foreign |
2,034.2 |
1,129.3 |
1,589.9 |
1,368.7 |
997.5 |
|
Current Tax - Other |
-386.7 |
-244.8 |
-152.1 |
-176.6 |
-156.8 |
|
Current Tax - Total |
3,924.1 |
1,591.0 |
3,419.7 |
3,755.6 |
266.0 |
|
Deferred Tax - Domestic |
-565.5 |
-500.7 |
-125.8 |
142.3 |
-522.0 |
|
Deferred Tax - Foreign |
-1,017.1 |
-606.4 |
-485.6 |
-584.4 |
52.7 |
|
Deferred Tax - Total |
-1,582.6 |
-1,107.0 |
-611.4 |
-442.1 |
-469.3 |
|
Income Tax - Total |
2,341.5 |
484.0 |
2,808.3 |
3,313.5 |
-203.3 |
|
Interest Cost - Domestic |
1,287.3 |
1,276.7 |
1,293.0 |
1,089.5 |
- |
|
Service Cost - Domestic |
484.7 |
477.0 |
473.9 |
459.9 |
- |
|
Prior Service Cost - Domestic |
4.0 |
-45.9 |
24.9 |
13.7 |
- |
|
Expected Return on Assets - Domestic |
-327.1 |
-282.3 |
-314.5 |
-297.0 |
- |
|
Curtailments & Settlements - Domestic |
-31.8 |
-1.4 |
2.9 |
-34.2 |
- |
|
Other Pension, Net - Domestic |
-10.6 |
5.6 |
20.5 |
-10.9 |
- |
|
Domestic Pension Plan Expense |
1,406.5 |
1,429.7 |
1,500.7 |
1,220.9 |
- |
|
Total Pension Expense |
1,406.5 |
1,429.7 |
1,500.7 |
1,220.9 |
- |
|
Total Plan Interest Cost |
1,287.3 |
1,276.7 |
1,293.0 |
1,089.5 |
- |
|
Total Plan Service Cost |
484.7 |
477.0 |
473.9 |
459.9 |
- |
|
Total Plan Expected Return |
-327.1 |
-282.3 |
-314.5 |
-297.0 |
- |
|
Total Plan Other Expense |
-10.6 |
5.6 |
20.5 |
-10.9 |
- |
Interim Income Statement
Standardized
Financials in: USD (mil)
Except for share items (millions) and per
share items (actual units)
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.731463 |
0.736368 |
0.774922 |
0.785482 |
0.722987 |
|
|
|
|
|
|
|
|
Net Sales |
51,226.1 |
46,618.0 |
39,665.9 |
42,218.6 |
39,623.1 |
|
Revenue |
51,226.1 |
46,618.0 |
39,665.9 |
42,218.6 |
39,623.1 |
|
Total Revenue |
51,226.1 |
46,618.0 |
39,665.9 |
42,218.6 |
39,623.1 |
|
|
|
|
|
|
|
|
Cost of Revenue |
41,464.8 |
38,813.5 |
32,266.5 |
34,760.8 |
33,945.3 |
|
Cost of Revenue, Total |
41,464.8 |
38,813.5 |
32,266.5 |
34,760.8 |
33,945.3 |
|
Gross Profit |
9,761.3 |
7,804.5 |
7,399.5 |
7,457.8 |
5,677.8 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
5,505.4 |
5,711.8 |
4,770.8 |
5,322.8 |
4,724.8 |
|
Total Selling/General/Administrative Expenses |
5,505.4 |
5,711.8 |
4,770.8 |
5,322.8 |
4,724.8 |
|
Other Operating Expense |
1.4 |
-1.4 |
- |
1.3 |
-1.4 |
|
Other, Net |
274.8 |
-1,052.5 |
67.1 |
-401.0 |
-219.9 |
|
Other Operating Expenses, Total |
276.2 |
-1,053.8 |
67.1 |
-399.8 |
-221.3 |
|
Total Operating Expense |
47,246.4 |
43,471.5 |
37,104.4 |
39,683.9 |
38,448.8 |
|
|
|
|
|
|
|
|
Operating Income |
3,979.7 |
3,146.5 |
2,561.5 |
2,534.7 |
1,174.3 |
|
|
|
|
|
|
|
|
Investment Income -
Non-Operating |
-940.6 |
1,677.2 |
1,077.5 |
-91.7 |
-201.9 |
|
Interest/Investment Income - Non-Operating |
-940.6 |
1,677.2 |
1,077.5 |
-91.7 |
-201.9 |
|
Interest Income (Expense) - Net Non-Operating
Total |
-940.6 |
1,677.2 |
1,077.5 |
-91.7 |
-201.9 |
|
Income Before Tax |
3,039.1 |
4,823.7 |
3,639.1 |
2,443.1 |
972.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
698.6 |
476.7 |
793.6 |
725.7 |
318.1 |
|
Income After Tax |
2,340.5 |
4,347.0 |
2,845.4 |
1,717.4 |
654.2 |
|
|
|
|
|
|
|
|
Minority Interest |
-160.0 |
-191.5 |
-129.0 |
-128.6 |
-69.2 |
|
Net Income Before Extraord Items |
2,180.6 |
4,155.5 |
2,716.4 |
1,588.8 |
585.1 |
|
Net Income |
2,180.6 |
4,155.5 |
2,716.4 |
1,588.8 |
585.1 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
2,180.6 |
4,155.5 |
2,716.4 |
1,588.8 |
585.1 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
2,180.6 |
4,155.5 |
2,716.4 |
1,588.8 |
585.1 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
465.1 |
465.8 |
465.1 |
465.1 |
403.3 |
|
Basic EPS Excl Extraord Items |
4.69 |
8.92 |
5.84 |
3.42 |
1.45 |
|
Basic/Primary EPS Incl Extraord Items |
4.69 |
8.92 |
5.84 |
3.42 |
1.45 |
|
Diluted Net Income |
2,180.6 |
4,155.5 |
2,716.4 |
1,588.8 |
585.1 |
|
Diluted Weighted Average Shares |
465.2 |
465.9 |
465.1 |
465.1 |
403.3 |
|
Diluted EPS Excl Extraord Items |
4.69 |
8.92 |
5.84 |
3.42 |
1.45 |
|
Diluted EPS Incl Extraord Items |
4.69 |
8.92 |
5.84 |
3.42 |
1.45 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
2.99 |
0.00 |
0.00 |
0.00 |
|
Dividends per Share - Common Stock Issue 2 |
0.00 |
3.07 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
1,404.2 |
0.0 |
0.0 |
0.0 |
|
Depreciation, Supplemental |
2,396.6 |
3,602.8 |
2,947.4 |
3,694.5 |
2,361.0 |
|
Normalized Income Before Tax |
3,039.1 |
4,823.7 |
3,639.1 |
2,443.1 |
972.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
698.6 |
476.7 |
793.6 |
725.7 |
318.1 |
|
Normalized Income After Tax |
2,340.5 |
4,347.0 |
2,845.4 |
1,717.4 |
654.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
2,180.6 |
4,155.5 |
2,716.4 |
1,588.8 |
585.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
4.69 |
8.92 |
5.84 |
3.42 |
1.45 |
|
Diluted Normalized EPS |
4.69 |
8.92 |
5.84 |
3.42 |
1.45 |
|
Amort of Intangibles, Supplemental |
690.4 |
- |
- |
- |
767.6 |
|
Research & Development Exp, Supplemental |
2,597.5 |
2,311.3 |
2,158.9 |
2,528.4 |
2,081.6 |
|
Normalized EBIT |
3,979.7 |
3,146.5 |
2,561.5 |
2,534.7 |
1,174.3 |
|
Normalized EBITDA |
7,066.7 |
6,749.3 |
5,508.9 |
6,229.3 |
4,303.0 |
|
Discount Rate - Domestic |
5.30% |
4.90% |
4.20% |
4.80% |
5.10% |
Annual Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per
share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
0.683971 |
0.758351 |
|
Auditor |
PricewaterhouseCoopers AG |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
24,986.4 |
29,421.0 |
12,535.5 |
- |
- |
|
Cash & Equivalents |
60.4 |
47.3 |
633.9 |
14,784.2 |
12,351.8 |
|
Short Term Investments |
7,379.9 |
4,777.7 |
5,240.5 |
9,671.5 |
6,713.2 |
|
Cash and Short Term Investments |
32,426.6 |
34,246.0 |
18,409.8 |
24,455.7 |
19,065.0 |
|
Trade Accounts Receivable - Net |
11,289.1 |
10,252.7 |
12,624.4 |
8,320.5 |
6,657.9 |
|
Notes Receivable - Short Term |
40,466.5 |
39,316.5 |
37,580.0 |
36,425.5 |
30,890.7 |
|
Other Receivables |
3,186.2 |
3,023.0 |
3,326.4 |
10,458.0 |
7,691.7 |
|
Total Receivables, Net |
54,941.8 |
52,592.2 |
53,530.8 |
55,204.1 |
45,240.2 |
|
Inventories - Finished Goods |
14,514.2 |
12,686.1 |
17,231.1 |
15,241.9 |
11,933.8 |
|
Inventories - Work In Progress |
2,464.4 |
2,281.3 |
2,301.9 |
1,995.7 |
1,770.9 |
|
Inventories - Raw Materials |
3,345.8 |
2,912.5 |
2,792.6 |
3,253.1 |
2,717.7 |
|
Inventories - Other |
3,328.4 |
2,383.1 |
2,439.5 |
23.4 |
11.9 |
|
Total Inventory |
23,652.9 |
20,263.0 |
24,765.1 |
20,514.0 |
16,434.3 |
|
Discontinued Operations - Current Asset |
- |
0.0 |
1,399.8 |
0.0 |
- |
|
Other Current Assets |
4,266.1 |
4,487.9 |
7,764.8 |
- |
- |
|
Other Current Assets, Total |
4,266.1 |
4,487.9 |
9,164.6 |
0.0 |
- |
|
Total Current Assets |
115,287.4 |
111,589.1 |
105,870.4 |
100,173.8 |
80,739.6 |
|
|
|
|
|
|
|
|
Land/Improvements |
24,798.6 |
24,841.3 |
22,486.8 |
21,088.6 |
18,647.0 |
|
Machinery/Equipment |
92,431.5 |
93,046.4 |
84,070.2 |
84,313.5 |
73,645.3 |
|
Construction in
Progress |
4,244.7 |
4,350.2 |
4,293.9 |
2,684.3 |
2,001.7 |
|
Other
Property/Plant/Equipment |
21,856.5 |
20,261.5 |
18,070.7 |
- |
- |
|
Property/Plant/Equipment - Gross |
143,331.2 |
142,499.4 |
128,921.6 |
108,086.4 |
94,294.0 |
|
Accumulated Depreciation |
-92,471.7 |
-92,359.2 |
-82,827.5 |
-79,813.3 |
-67,472.7 |
|
Property/Plant/Equipment - Net |
50,859.5 |
50,140.2 |
46,094.1 |
28,273.1 |
26,821.3 |
|
Goodwill - Gross |
- |
- |
- |
293.9 |
257.1 |
|
Accumulated Goodwill Amortization |
- |
- |
- |
- |
0.0 |
|
Goodwill, Net |
4,574.7 |
4,202.4 |
3,851.8 |
293.9 |
257.1 |
|
Intangibles - Gross |
13,005.0 |
14,315.9 |
13,233.3 |
20,242.1 |
17,626.4 |
|
Accumulated Intangible Amortization |
- |
- |
- |
-10,550.2 |
-8,398.5 |
|
Intangibles, Net |
13,005.0 |
14,315.9 |
13,233.3 |
9,691.9 |
9,227.9 |
|
LT Investment - Affiliate Companies |
19,007.1 |
15,678.9 |
9,669.2 |
12,197.9 |
9,607.7 |
|
LT Investments - Other |
- |
- |
- |
222.2 |
201.8 |
|
Long Term Investments |
19,007.1 |
15,678.9 |
9,669.2 |
12,420.1 |
9,809.4 |
|
Note Receivable - Long Term |
59,061.7 |
53,955.2 |
50,048.8 |
45,162.7 |
38,871.2 |
|
Deferred Income Tax - Long Term Asset |
5,698.9 |
4,322.9 |
4,648.3 |
4,545.5 |
4,006.1 |
|
Other Long Term Assets |
- |
- |
- |
11,958.1 |
10,398.9 |
|
Other Long Term Assets, Total |
5,698.9 |
4,322.9 |
4,648.3 |
16,503.6 |
14,404.9 |
|
Total Assets |
267,494.3 |
254,204.7 |
233,415.8 |
212,519.2 |
180,131.5 |
|
|
|
|
|
|
|
|
Accounts Payable |
17,226.8 |
15,130.9 |
13,680.9 |
13,303.2 |
10,799.7 |
|
Accrued Expenses |
4,564.0 |
3,582.6 |
3,414.0 |
- |
- |
|
Notes Payable/Short Term Debt |
12,536.8 |
15,519.7 |
9,904.1 |
10,151.0 |
9,879.3 |
|
Current Portion - Long Term Debt/Capital Leases |
40,928.0 |
42,739.8 |
40,308.7 |
31,776.2 |
29,710.5 |
|
Customer Advances |
2,571.8 |
1,753.3 |
1,609.7 |
- |
- |
|
Income Taxes Payable |
3,170.1 |
1,500.7 |
1,694.5 |
2,815.9 |
44.8 |
|
Other Current Liabilities |
22,167.8 |
19,537.0 |
19,466.3 |
23,927.9 |
20,093.6 |
|
Other Current liabilities, Total |
27,909.6 |
22,791.0 |
22,770.4 |
26,743.8 |
20,138.4 |
|
Total Current Liabilities |
103,165.2 |
99,763.9 |
90,078.0 |
81,974.2 |
70,528.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
49,536.7 |
52,813.1 |
45,984.2 |
42,577.8 |
37,626.4 |
|
Capital Lease Obligations |
313.9 |
262.6 |
244.6 |
282.2 |
263.7 |
|
Total Long Term Debt |
49,850.7 |
53,075.7 |
46,228.9 |
42,860.0 |
37,890.1 |
|
Total Debt |
103,315.4 |
111,335.2 |
96,441.7 |
84,787.2 |
77,479.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
2,239.0 |
3,190.9 |
5,079.2 |
3,855.4 |
2,840.4 |
|
Deferred Income Tax |
2,239.0 |
3,190.9 |
5,079.2 |
3,855.4 |
2,840.4 |
|
Minority Interest |
3,667.8 |
3,083.3 |
3,304.1 |
92.1 |
72.5 |
|
Reserves |
14,985.1 |
14,473.8 |
12,611.9 |
12,099.9 |
9,357.1 |
|
Pension Benefits - Underfunded |
20,702.8 |
19,994.7 |
18,008.1 |
18,426.2 |
18,268.6 |
|
Other Long Term Liabilities |
11,204.6 |
10,005.9 |
9,438.4 |
6,608.5 |
5,697.9 |
|
Other Liabilities, Total |
46,892.5 |
44,474.4 |
40,058.5 |
37,134.6 |
33,323.6 |
|
Total Liabilities |
205,815.2 |
203,588.2 |
184,748.8 |
165,916.4 |
144,654.6 |
|
|
|
|
|
|
|
|
Common Stock |
1,597.8 |
1,470.6 |
1,423.4 |
1,484.0 |
1,323.9 |
|
Common Stock |
1,597.8 |
1,470.6 |
1,423.4 |
1,484.0 |
1,323.9 |
|
Additional Paid-In Capital |
12,511.3 |
7,684.5 |
7,438.2 |
7,517.9 |
6,516.8 |
|
Retained Earnings (Accumulated Deficit) |
47,712.2 |
42,932.0 |
39,805.5 |
37,601.0 |
27,636.3 |
|
Translation Adjustment |
-221.4 |
-2,698.8 |
- |
- |
- |
|
Other Equity |
- |
-2.9 |
- |
- |
- |
|
Other Comprehensive Income |
81.8 |
1,233.9 |
- |
- |
- |
|
Other Equity, Total |
-139.5 |
-1,467.7 |
- |
- |
- |
|
Total Equity |
61,681.8 |
50,619.4 |
48,667.0 |
46,602.8 |
35,477.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
267,497.0 |
254,207.6 |
233,415.8 |
212,519.2 |
180,131.5 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
295.0 |
295.0 |
294.9 |
291.3 |
287.0 |
|
Shares Outstanding - Common Stock Issue 2 |
170.1 |
105.9 |
105.9 |
105.9 |
105.9 |
|
Total Common Shares Outstanding |
465.2 |
400.9 |
400.8 |
397.2 |
392.9 |
|
Employees |
399,381 |
368,500 |
369,928 |
329,305 |
324,875 |
|
Accumulated Goodwill Amortization Suppl. |
- |
- |
- |
- |
0.0 |
|
Accumulated Intangible Amort, Suppl. |
12,194.7 |
12,056.2 |
10,692.3 |
10,550.2 |
8,398.5 |
|
Deferred Revenue - Current |
2,571.8 |
1,753.3 |
1,609.7 |
- |
- |
|
Total Long Term Debt, Supplemental |
112,784.1 |
116,345.3 |
- |
- |
77,479.9 |
|
Long Term Debt Maturing within 1 Year |
56,858.9 |
60,400.1 |
- |
- |
39,589.8 |
|
Long Term Debt Maturing in Year 2 |
12,497.2 |
12,139.8 |
- |
- |
7,768.2 |
|
Long Term Debt Maturing in Year 3 |
12,497.2 |
12,139.8 |
- |
- |
7,768.2 |
|
Long Term Debt Maturing in Year 4 |
12,497.2 |
12,139.8 |
- |
- |
7,768.2 |
|
Long Term Debt Maturing in Year 5 |
12,497.2 |
12,139.8 |
- |
- |
7,768.2 |
|
Long Term Debt Maturing in 2-3 Years |
24,994.4 |
24,279.6 |
- |
- |
15,536.3 |
|
Long Term Debt Maturing in 4-5 Years |
24,994.4 |
24,279.6 |
- |
- |
15,536.3 |
|
Long Term Debt Matur. in Year 6 & Beyond |
5,936.4 |
7,386.1 |
- |
- |
6,817.4 |
|
Total Capital Leases, Supplemental |
348.8 |
295.6 |
289.1 |
312.9 |
284.8 |
|
Capital Lease Payments Due in Year 1 |
34.9 |
33.0 |
44.5 |
30.7 |
21.1 |
|
Capital Lease Payments Due in Year 2 |
43.9 |
32.6 |
23.3 |
27.4 |
24.4 |
|
Capital Lease Payments Due in Year 3 |
43.9 |
32.6 |
23.3 |
27.4 |
24.4 |
|
Capital Lease Payments Due in Year 4 |
43.9 |
32.6 |
23.3 |
27.4 |
24.4 |
|
Capital Lease Payments Due in Year 5 |
43.9 |
32.6 |
23.3 |
27.4 |
24.4 |
|
Capital Lease Payments Due in 2-3 Years |
87.9 |
65.3 |
46.6 |
54.8 |
48.8 |
|
Capital Lease Payments Due in 4-5 Years |
87.9 |
65.3 |
46.6 |
54.8 |
48.8 |
|
Cap. Lease Pymts. Due in Year 6 & Beyond |
138.2 |
132.0 |
151.5 |
172.5 |
166.1 |
|
Total Operating Leases, Supplemental |
3,292.2 |
3,407.5 |
- |
3,678.5 |
3,341.5 |
|
Operating Lease Payments Due in Year 1 |
1,761.5 |
1,770.5 |
- |
1,805.6 |
1,661.5 |
|
Operating Lease Payments Due in Year 2 |
382.7 |
409.3 |
- |
453.2 |
406.8 |
|
Operating Lease Payments Due in Year 3 |
382.7 |
409.3 |
- |
453.2 |
406.8 |
|
Operating Lease Payments Due in Year 4 |
382.7 |
409.3 |
- |
453.2 |
406.8 |
|
Operating Lease Payments Due in Year 5 |
382.7 |
409.3 |
- |
453.2 |
406.8 |
|
Operating Lease Pymts. Due in 2-3 Years |
765.4 |
818.5 |
- |
906.5 |
813.6 |
|
Operating Lease Pymts. Due in 4-5 Years |
765.4 |
818.5 |
- |
906.5 |
813.6 |
|
Oper. Lse. Pymts. Due in Year 6 & Beyond |
0.0 |
0.0 |
- |
59.9 |
52.7 |
|
Pension Obligation - Domestic |
6,553.5 |
5,911.2 |
4,503.8 |
4,868.6 |
4,265.8 |
|
Plan Assets - Domestic |
6,109.4 |
5,526.7 |
4,382.8 |
5,003.1 |
4,165.6 |
|
Funded Status - Domestic |
-444.1 |
-384.5 |
-120.9 |
134.5 |
-100.2 |
|
Unfunded Plan Obligations |
20,104.5 |
19,443.7 |
17,713.4 |
18,322.4 |
18,002.2 |
|
Total Funded Status |
-20,548.5 |
-19,828.2 |
-17,834.3 |
-18,187.9 |
-18,102.4 |
|
Other Assets, Net - Domestic |
-20,626.3 |
-19,917.2 |
- |
- |
- |
|
Net Assets Recognized on Balance Sheet |
-20,626.3 |
-19,917.2 |
- |
- |
- |
|
Equity % - Domestic |
29.80% |
29.30% |
20.10% |
35.60% |
- |
|
Debt Securities % - Domestic |
52.90% |
53.20% |
54.80% |
52.40% |
- |
|
Real Estate % - Domestic |
4.30% |
4.10% |
2.50% |
3.10% |
- |
|
Total Plan Obligations |
26,657.9 |
25,354.9 |
22,217.2 |
23,191.0 |
22,268.0 |
|
Total Plan Assets |
6,109.4 |
5,526.7 |
4,382.8 |
5,003.1 |
4,165.6 |
Interim Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per
share items (actual units)
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.704672 |
0.745406 |
0.732493 |
0.816393 |
0.739044 |
|
|
|
|
|
|
|
|
Cash & Equivalents |
30,412.7 |
25,046.7 |
29,978.4 |
25,611.4 |
28,845.4 |
|
Short Term Investments |
7,768.2 |
7,379.9 |
6,544.8 |
4,955.9 |
4,722.3 |
|
Cash and Short Term Investments |
38,180.9 |
32,426.6 |
36,523.2 |
30,567.4 |
33,567.7 |
|
Trade Accounts Receivable - Net |
12,253.9 |
- |
- |
- |
- |
|
Notes Receivable - Short Term |
44,237.6 |
40,466.5 |
38,609.2 |
35,309.0 |
37,555.3 |
|
Other Receivables |
11,699.1 |
18,741.5 |
21,237.1 |
17,599.4 |
20,322.2 |
|
Total Receivables, Net |
68,190.6 |
59,208.0 |
59,846.3 |
52,908.3 |
57,877.5 |
|
Inventories - Finished Goods |
18,644.1 |
14,514.2 |
13,159.2 |
11,903.6 |
13,441.7 |
|
Inventories - Work In Progress |
2,650.9 |
2,464.4 |
2,517.4 |
2,046.8 |
2,072.9 |
|
Inventories - Raw Materials |
3,661.3 |
3,345.8 |
3,546.8 |
2,854.0 |
2,993.1 |
|
Inventories - Other |
4,958.3 |
3,328.4 |
3,586.4 |
3,264.4 |
2,910.5 |
|
Total Inventory |
29,914.6 |
23,652.9 |
22,809.8 |
20,068.8 |
21,418.2 |
|
Total Current Assets |
136,286.1 |
115,287.4 |
119,179.2 |
103,544.5 |
112,863.4 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
54,875.2 |
50,521.4 |
48,856.4 |
44,635.4 |
47,998.5 |
|
Intangibles, Net |
20,227.9 |
17,579.7 |
17,628.8 |
15,757.1 |
17,771.6 |
|
LT Investments - Other |
38,706.0 |
36,055.5 |
33,470.6 |
28,964.0 |
45,745.6 |
|
Long Term Investments |
38,706.0 |
36,055.5 |
33,470.6 |
28,964.0 |
45,745.6 |
|
Note Receivable - Long Term |
52,535.1 |
48,050.3 |
48,081.0 |
43,454.6 |
30,170.1 |
|
Total Assets |
302,630.2 |
267,494.3 |
267,216.1 |
236,355.5 |
254,549.2 |
|
|
|
|
|
|
|
|
Accounts Payable |
20,409.5 |
16,828.4 |
17,069.1 |
15,487.6 |
15,950.3 |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
63,553.0 |
53,463.5 |
56,257.2 |
50,599.4 |
51,274.4 |
|
Other Current Liabilities |
37,966.6 |
32,872.0 |
32,606.4 |
29,207.7 |
30,592.2 |
|
Other Current liabilities, Total |
37,966.6 |
32,872.0 |
32,606.4 |
29,207.7 |
30,592.2 |
|
Total Current Liabilities |
121,929.1 |
103,163.9 |
105,932.7 |
95,294.8 |
97,817.0 |
|
|
|
|
|
|
|
|
Long Term Debt |
54,513.3 |
49,850.7 |
48,651.6 |
44,613.3 |
54,276.9 |
|
Total Long Term Debt |
54,513.3 |
49,850.7 |
48,651.6 |
44,613.3 |
54,276.9 |
|
Total Debt |
118,066.3 |
103,314.1 |
104,908.8 |
95,212.7 |
105,551.3 |
|
|
|
|
|
|
|
|
Minority Interest |
4,023.1 |
3,667.8 |
3,497.6 |
2,955.7 |
3,120.2 |
|
Pension Benefits - Underfunded |
20,982.8 |
20,702.8 |
22,629.6 |
18,787.5 |
19,764.7 |
|
Other Long Term Liabilities |
31,130.8 |
28,428.8 |
29,013.2 |
27,512.5 |
26,002.5 |
|
Other Liabilities, Total |
52,113.6 |
49,131.6 |
51,642.8 |
46,300.0 |
45,767.3 |
|
Total Liabilities |
232,579.1 |
205,813.9 |
209,724.8 |
189,163.8 |
200,981.4 |
|
|
|
|
|
|
|
|
Common Stock |
1,690.1 |
1,597.8 |
1,626.0 |
1,458.9 |
1,611.5 |
|
Common Stock |
1,690.1 |
1,597.8 |
1,626.0 |
1,458.9 |
1,611.5 |
|
Additional Paid-In Capital |
13,234.5 |
12,511.3 |
12,730.5 |
11,419.7 |
12,615.0 |
|
Retained Earnings (Accumulated Deficit) |
53,319.8 |
47,712.2 |
43,084.3 |
36,917.3 |
40,484.8 |
|
Translation Adjustment |
-850.0 |
-221.4 |
-724.9 |
-253.6 |
-1,359.9 |
|
Other Comprehensive Income |
2,658.0 |
81.8 |
774.1 |
-2,350.6 |
213.8 |
|
Other Equity, Total |
1,807.9 |
-139.5 |
49.1 |
-2,604.1 |
-1,146.1 |
|
Total Equity |
70,052.5 |
61,681.8 |
57,489.9 |
47,191.7 |
53,565.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
302,631.6 |
267,495.7 |
267,214.7 |
236,355.5 |
254,546.5 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
295.0 |
295.0 |
295.0 |
295.0 |
295.0 |
|
Shares Outstanding - Common Stock Issue 2 |
170.1 |
170.1 |
170.1 |
170.1 |
170.1 |
|
Total Common Shares Outstanding |
465.2 |
465.2 |
465.2 |
465.2 |
465.1 |
|
Employees |
427,184 |
399,381 |
389,714 |
377,074 |
371,289 |
|
Discount Rate - Domestic |
5.30% |
4.90% |
4.20% |
4.80% |
5.10% |
Annual Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per
share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified Normal |
Reclassified Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
PricewaterhouseCoopers AG |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
11,911.3 |
1,753.7 |
9,665.4 |
8,955.2 |
2,249.7 |
|
Depreciation |
10,424.1 |
10,117.6 |
10,259.2 |
7,438.7 |
7,443.1 |
|
Depreciation/Depletion |
10,424.1 |
10,117.6 |
10,259.2 |
7,438.7 |
7,443.1 |
|
Amortization of Intangibles |
2,937.4 |
2,205.7 |
2,036.0 |
2,522.5 |
2,291.2 |
|
Amortization |
2,937.4 |
2,205.7 |
2,036.0 |
2,522.5 |
2,291.2 |
|
Unusual Items |
135.1 |
-760.7 |
54.1 |
2,480.0 |
1,607.3 |
|
Equity in Net Earnings (Loss) |
-994.6 |
-414.4 |
-320.3 |
-97.2 |
-258.5 |
|
Other Non-Cash Items |
1,639.6 |
3,341.9 |
1,910.3 |
2,499.2 |
4,326.3 |
|
Non-Cash Items |
780.1 |
2,166.8 |
1,644.0 |
4,882.0 |
5,675.2 |
|
Accounts Receivable |
-6,730.4 |
-353.2 |
-9,340.6 |
-1,289.3 |
923.5 |
|
Inventories |
-3,320.2 |
5,778.5 |
-4,469.9 |
-2,540.2 |
-184.4 |
|
Other Assets |
-4,155.9 |
-3,575.6 |
-3,999.0 |
- |
- |
|
Other Liabilities |
5,382.2 |
361.6 |
1,192.1 |
3,071.3 |
878.3 |
|
Other Operating Cash Flow |
-2,058.1 |
-735.7 |
-3,035.0 |
-1,604.1 |
-1,114.2 |
|
Changes in Working Capital |
-10,882.3 |
1,475.6 |
-19,652.5 |
-2,362.3 |
503.1 |
|
Cash from Operating Activities |
15,170.6 |
17,719.3 |
3,952.1 |
21,436.1 |
18,162.3 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-7,625.7 |
-8,292.9 |
-10,086.6 |
-10,129.5 |
-7,849.6 |
|
Purchase/Acquisition of Intangibles |
-2,207.7 |
-2,709.1 |
-3,241.3 |
-1,979.1 |
-1,854.5 |
|
Capital Expenditures |
-9,833.4 |
-11,002.1 |
-13,327.9 |
-12,108.6 |
-9,704.1 |
|
Sale of Fixed Assets |
393.3 |
212.8 |
139.0 |
253.2 |
682.6 |
|
Sale/Maturity of Investment |
5.3 |
1,835.8 |
1.5 |
19.2 |
1,983.7 |
|
Investment, Net |
-2,344.1 |
1,047.2 |
628.9 |
-3,199.9 |
-1,238.4 |
|
Purchase of Investments |
-2,852.7 |
-5,547.6 |
-3,798.6 |
-1,694.4 |
-3,436.7 |
|
Other Investing Cash Flow |
- |
- |
- |
-4,910.8 |
-4,470.6 |
|
Other Investing Cash Flow Items, Total |
-4,798.2 |
-2,451.9 |
-3,029.2 |
-9,532.8 |
-6,479.5 |
|
Cash from Investing Activities |
-14,631.6 |
-13,453.9 |
-16,357.1 |
-21,641.4 |
-16,183.6 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
5.3 |
-513.2 |
-533.9 |
-16.4 |
289.8 |
|
Financing Cash Flow Items |
5.3 |
-513.2 |
-533.9 |
-16.4 |
289.8 |
|
Cash Dividends Paid - Common |
-1,056.8 |
-1,215.5 |
-1,056.1 |
-680.2 |
-565.9 |
|
Total Cash Dividends Paid |
-1,056.8 |
-1,215.5 |
-1,056.1 |
-680.2 |
-565.9 |
|
Sale/Issuance of
Common |
5,431.2 |
5.6 |
318.9 |
288.8 |
426.6 |
|
Common Stock, Net |
5,431.2 |
5.6 |
318.9 |
288.8 |
426.6 |
|
Issuance (Retirement) of Stock, Net |
5,431.2 |
5.6 |
318.9 |
288.8 |
426.6 |
|
Long Term Debt Issued |
10,475.7 |
21,685.7 |
11,220.2 |
13,024.2 |
9,981.4 |
|
Long Term Debt
Reduction |
-15,814.3 |
-14,188.2 |
-12,388.9 |
-11,611.8 |
-10,541.1 |
|
Long Term Debt, Net |
-5,508.0 |
9,419.4 |
13,152.4 |
1,485.0 |
-293.6 |
|
Issuance (Retirement) of Debt, Net |
-5,508.0 |
9,419.4 |
13,152.4 |
1,485.0 |
-293.6 |
|
Cash from Financing Activities |
-1,128.4 |
7,696.3 |
11,881.3 |
1,077.1 |
-143.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
580.1 |
264.2 |
-165.3 |
-123.2 |
-74.0 |
|
Net Change in Cash |
-10.6 |
12,227.3 |
-688.9 |
748.7 |
1,761.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
24,149.8 |
13,132.7 |
14,501.0 |
12,820.3 |
9,991.5 |
|
Net Cash - Ending Balance |
24,140.5 |
25,360.0 |
13,812.0 |
13,569.0 |
11,753.1 |
|
Cash Interest Paid |
4,038.0 |
4,411.4 |
4,978.9 |
4,015.7 |
3,995.1 |
|
Cash Taxes Paid |
2,058.1 |
735.7 |
3,035.0 |
1,604.1 |
1,114.2 |
Interim Cash Flows
Standardized
Financials in: USD (mil)
Except for share items (millions) and per
share items (actual units)
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
|
Period Length |
3 Months |
12 Months |
9 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.731463 |
0.755078 |
0.761121 |
0.754409 |
0.722987 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
3,039.1 |
11,911.3 |
7,152.6 |
3,478.2 |
972.4 |
|
Depreciation |
3,081.5 |
10,424.1 |
9,780.3 |
6,839.8 |
3,123.2 |
|
Depreciation/Depletion |
3,081.5 |
10,424.1 |
9,780.3 |
6,839.8 |
3,123.2 |
|
Amortization of Intangibles |
- |
2,937.4 |
- |
- |
- |
|
Amortization |
- |
2,937.4 |
- |
- |
- |
|
Other Non-Cash Items |
935.1 |
-2,734.8 |
-989.3 |
571.3 |
-91.3 |
|
Non-Cash Items |
935.1 |
-2,734.8 |
-989.3 |
571.3 |
-91.3 |
|
Accounts Receivable |
-4,236.7 |
-6,730.4 |
-4,936.1 |
-4,374.3 |
-2,480.0 |
|
Inventories |
-2,262.6 |
-3,320.2 |
-2,340.0 |
-1,662.2 |
-1,711.0 |
|
Other Assets |
-1,197.6 |
-4,155.9 |
-2,834.0 |
-2,063.9 |
-958.5 |
|
Other Liabilities |
5,139.0 |
8,897.1 |
8,864.6 |
6,733.7 |
5,787.1 |
|
Other Operating Cash Flow |
-1,070.5 |
-2,058.1 |
-919.7 |
-691.9 |
-286.3 |
|
Changes in Working Capital |
-3,628.3 |
-7,367.4 |
-2,165.2 |
-2,058.6 |
351.3 |
|
Cash from Operating Activities |
3,427.4 |
15,170.6 |
13,778.4 |
8,830.8 |
4,355.5 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-1,316.5 |
-7,625.7 |
-4,469.7 |
-2,611.3 |
-1,264.2 |
|
Purchase/Acquisition of Intangibles |
-535.9 |
-2,207.7 |
- |
- |
-582.3 |
|
Capital Expenditures |
-1,852.5 |
-9,833.4 |
-4,469.7 |
-2,611.3 |
-1,846.5 |
|
Sale of Fixed Assets |
- |
393.3 |
- |
- |
- |
|
Sale/Maturity of Investment |
- |
5.3 |
- |
- |
- |
|
Investment, Net |
-4,903.9 |
-7,191.3 |
-5,694.2 |
-5,222.6 |
-1,849.3 |
|
Other Investing Cash Flow |
120.3 |
1,994.5 |
-1,311.2 |
-909.3 |
105.1 |
|
Other Investing Cash Flow Items, Total |
-4,783.6 |
-4,798.2 |
-7,005.5 |
-6,132.0 |
-1,744.2 |
|
Cash from Investing Activities |
-6,636.0 |
-14,631.6 |
-11,475.2 |
-8,743.3 |
-3,590.7 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
6,348.9 |
-6,559.6 |
-5,234.4 |
-5,672.0 |
-1,675.0 |
|
Financing Cash Flow Items |
6,348.9 |
-6,559.6 |
-5,234.4 |
-5,672.0 |
-1,675.0 |
|
Sale/Issuance of
Common |
0.0 |
5,431.2 |
5,385.5 |
5,432.1 |
4,195.1 |
|
Common Stock, Net |
0.0 |
5,431.2 |
5,385.5 |
5,432.1 |
4,195.1 |
|
Issuance (Retirement) of Stock, Net |
0.0 |
5,431.2 |
5,385.5 |
5,432.1 |
4,195.1 |
|
Cash from Financing Activities |
6,348.9 |
-1,128.4 |
151.1 |
-239.9 |
2,520.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-218.7 |
580.1 |
399.4 |
542.1 |
327.8 |
|
Net Change in Cash |
2,921.5 |
-10.6 |
2,852.4 |
391.0 |
3,612.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
24,919.9 |
24,149.8 |
23,958.1 |
24,171.2 |
25,221.8 |
|
Net Cash - Ending Balance |
27,841.5 |
24,140.5 |
26,811.8 |
24,562.3 |
28,834.5 |
|
Cash Taxes Paid |
1,070.5 |
2,058.1 |
919.7 |
691.9 |
286.3 |
Annual Income Statement
As Reported
Financials in: USD (mil)
Except for share items (millions) and per
share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
PricewaterhouseCoopers AG |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Total Sales |
161,171.4 |
139,494.4 |
160,091.2 |
149,043.8 |
131,590.6 |
|
Interest Income |
6,857.6 |
6,792.3 |
6,372.9 |
- |
- |
|
Total Revenue |
168,028.9 |
146,286.7 |
166,464.0 |
149,043.8 |
131,590.6 |
|
|
|
|
|
|
|
|
Cost of Sales |
139,629.2 |
127,402.0 |
141,311.9 |
126,742.8 |
114,206.2 |
|
Selling/Distribution |
16,174.5 |
14,654.1 |
15,434.1 |
12,693.0 |
11,518.5 |
|
General Administrative |
4,353.2 |
3,809.2 |
4,010.7 |
3,357.3 |
2,901.0 |
|
Income from foreign currency hedging der |
-1,860.7 |
-3,083.2 |
-3,576.2 |
- |
- |
|
Income from foreign exchange gains |
-2,526.9 |
-2,258.5 |
-3,296.9 |
- |
- |
|
Income from investment property |
-78.1 |
-80.7 |
-87.8 |
- |
- |
|
Gain on Assets Disposal |
-148.3 |
-98.7 |
-42.4 |
-64.3 |
- |
|
Other operating income |
-5,514.7 |
-5,471.1 |
-5,824.4 |
-8,139.5 |
-5,914.8 |
|
Losses from foreign currency hedging der |
2,254.1 |
1,858.0 |
1,768.4 |
- |
- |
|
Foreign exchange losses |
1,783.9 |
2,550.6 |
3,737.1 |
- |
- |
|
Losses on disposal of noncurrent asset |
135.1 |
45.9 |
86.3 |
- |
- |
|
Other Expenses |
4,369.1 |
4,379.4 |
3,680.1 |
6,035.8 |
6,359.0 |
|
Total Operating Expense |
158,570.3 |
143,706.9 |
157,200.9 |
140,625.2 |
129,069.8 |
|
|
|
|
|
|
|
|
Participations |
2,574.6 |
974.9 |
1,331.0 |
1,004.6 |
468.0 |
|
Interest Expense |
-2,839.4 |
-3,154.2 |
-2,654.8 |
-2,254.2 |
-1,990.0 |
|
Other Investment Income, Net |
- |
- |
- |
- |
-89.1 |
|
Income from profit and loss transfer agr |
31.8 |
32.0 |
29.3 |
- |
- |
|
Cost of loss absorption |
-19.9 |
-77.9 |
-52.7 |
- |
- |
|
Other income from equity investments |
11.9 |
61.2 |
65.8 |
- |
- |
|
Other expenses from equity investments |
-47.7 |
-43.1 |
-51.2 |
- |
- |
|
Income from marketable securities and lo |
113.9 |
47.3 |
21.9 |
- |
- |
|
Other Interest Income |
936.3 |
1,026.4 |
2,157.4 |
1,335.8 |
835.7 |
|
financial instruments Gains and losses f |
91.4 |
58.4 |
-356.9 |
- |
- |
|
Gains & losses from fair value remeassur |
1,650.2 |
317.1 |
-76.1 |
- |
- |
|
Gains and losses on hedges |
-49.0 |
-69.5 |
-11.7 |
- |
- |
|
Other Financial Result |
- |
- |
- |
450.3 |
199.5 |
|
Income from Securities |
- |
- |
- |
- |
304.9 |
|
Net Income Before Taxes |
11,912.7 |
1,752.3 |
9,665.4 |
8,955.2 |
2,249.7 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
2,340.2 |
485.4 |
2,808.3 |
3,313.5 |
-203.3 |
|
Net Income After Taxes |
9,572.5 |
1,267.0 |
6,857.0 |
5,641.6 |
2,453.0 |
|
|
|
|
|
|
|
|
Minority Interest |
-519.2 |
68.1 |
95.1 |
-2.7 |
-1.3 |
|
Net Income Before Extra. Items |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
2,451.8 |
|
Discontinued Operations |
- |
- |
- |
0.0 |
997.5 |
|
Net Income |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
3,449.3 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
2,451.8 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
3,449.3 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
449.9 |
402.6 |
398.1 |
394.3 |
387.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
20.12 |
3.32 |
17.46 |
14.30 |
6.32 |
|
Basic EPS Including ExtraOrdinary Item |
20.12 |
3.32 |
17.46 |
14.30 |
8.90 |
|
Diluted Net Income |
9,053.4 |
1,335.1 |
6,952.1 |
5,638.9 |
3,449.3 |
|
Diluted Weighted Average Shares |
449.9 |
402.7 |
399.7 |
397.7 |
389.8 |
|
Diluted EPS Excluding ExtraOrd Items |
20.12 |
3.32 |
17.39 |
14.18 |
6.29 |
|
Diluted EPS Including ExtraOrd Items |
20.12 |
3.32 |
17.39 |
14.18 |
8.85 |
|
DPS-Ordinary Shares |
2.91 |
2.23 |
2.82 |
2.46 |
1.57 |
|
DPS-Preference Shares |
2.99 |
2.29 |
2.89 |
2.53 |
1.63 |
|
Gross Dividends - Common Stock |
1,369.4 |
899.8 |
1,139.4 |
985.4 |
623.6 |
|
Normalized Income Before Taxes |
13,622.4 |
2,521.4 |
9,709.2 |
8,890.9 |
2,249.7 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
2,676.0 |
698.4 |
2,821.1 |
3,289.7 |
-203.3 |
|
Normalized Income After Taxes |
10,946.4 |
1,823.0 |
6,888.1 |
5,601.1 |
2,453.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
10,427.3 |
1,891.2 |
6,983.2 |
5,598.4 |
2,451.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
23.18 |
4.70 |
17.54 |
14.20 |
6.32 |
|
Diluted Normalized EPS |
23.17 |
4.70 |
17.47 |
14.08 |
6.29 |
|
Interest Expenses |
2,839.4 |
3,154.2 |
2,654.8 |
2,254.2 |
1,990.0 |
|
Depreciation |
9,273.2 |
9,170.5 |
9,296.8 |
6,610.7 |
6,598.7 |
|
Amortisation of Intangibles |
2,515.0 |
2,415.7 |
2,545.1 |
2,174.8 |
1,934.8 |
|
Amortisation of Acquisition Costs |
- |
- |
- |
- |
0.0 |
|
Research & Development Expenses |
9,093.1 |
7,550.3 |
7,462.6 |
7,281.3 |
5,756.7 |
|
Rental Expense |
834.4 |
757.9 |
535.3 |
- |
- |
|
Current Tax - Germany |
2,276.6 |
706.5 |
1,981.9 |
2,563.5 |
-574.7 |
|
Current Tax - Foreign |
2,034.2 |
1,129.3 |
1,589.9 |
1,368.7 |
997.5 |
|
Current Tax - Other |
-386.7 |
-244.8 |
-152.1 |
-176.6 |
-156.8 |
|
Current Tax - Total |
3,924.1 |
1,591.0 |
3,419.7 |
3,755.6 |
266.0 |
|
Deferred Tax - Germany |
-565.5 |
-500.7 |
-125.8 |
142.3 |
-522.0 |
|
Deferred Tax - Foreign |
-1,017.1 |
-606.4 |
-485.6 |
-584.4 |
52.7 |
|
Deferred Tax - Total |
-1,582.6 |
-1,107.0 |
-611.4 |
-442.1 |
-469.3 |
|
Income Tax - Total |
2,341.5 |
484.0 |
2,808.3 |
3,313.5 |
-203.3 |
|
Current Service Cost |
484.7 |
477.0 |
473.9 |
459.9 |
- |
|
Interest Cost |
1,287.3 |
1,276.7 |
1,293.0 |
1,089.5 |
- |
|
Expected Return on Plan Assets |
-327.1 |
-282.3 |
-314.5 |
-297.0 |
- |
|
Past Service Cost |
4.0 |
-45.9 |
24.9 |
13.7 |
- |
|
Gains from Plan Curtailments |
-31.8 |
-1.4 |
2.9 |
-34.2 |
- |
|
Gains/Losses from Application of IAS |
-10.6 |
5.6 |
20.5 |
-10.9 |
- |
|
Domestic Pension Plan Expense |
1,406.5 |
1,429.7 |
1,500.7 |
1,220.9 |
- |
|
Total Pension Expense |
1,406.5 |
1,429.7 |
1,500.7 |
1,220.9 |
- |
|
Discount Rate |
4.90% |
5.40% |
5.75% |
5.50% |
- |
|
Expected Return on Plan Assets |
4.25% |
5.00% |
5.00% |
5.00% |
- |
|
Salary Trend |
2.70% |
2.50% |
2.50% |
2.50% |
- |
|
Pension Trend |
1.00% |
1.00% |
1.00% |
1.00% |
- |
|
Discount Rate/Abroad |
1.20% |
1.20% |
2.00% |
2.00% |
- |
|
Expected Return on Plan Assets/Abroad |
3.00% |
4.00% |
2.00% |
2.00% |
- |
|
Salary Trend/Abroad |
1.60% |
1.50% |
1.50% |
2.00% |
- |
|
Pension Trend/Abroad |
0.80% |
0.80% |
0.80% |
2.20% |
- |
Interim Income Statement
As Reported
Except for share items (millions) and per
share items (actual units)
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.731463 |
0.736368 |
0.774922 |
0.785482 |
0.722987 |
|
|
|
|
|
|
|
|
Sales |
51,226.1 |
46,618.0 |
39,665.9 |
42,218.6 |
39,623.1 |
|
Total Revenue |
51,226.1 |
46,618.0 |
39,665.9 |
42,218.6 |
39,623.1 |
|
|
|
|
|
|
|
|
Cost of Sales |
41,464.8 |
38,813.5 |
32,266.5 |
34,760.8 |
33,945.3 |
|
Distribution Costs |
4,249.0 |
4,351.1 |
3,750.1 |
4,312.0 |
3,756.6 |
|
Administrative Expenses |
1,256.4 |
1,360.7 |
1,020.7 |
1,010.8 |
968.2 |
|
Other Operating Expenses |
274.8 |
-1,052.5 |
67.1 |
-401.0 |
-219.9 |
|
Adjustment |
1.4 |
-1.4 |
- |
1.3 |
-1.4 |
|
Total Operating Expense |
47,246.4 |
43,471.5 |
37,104.4 |
39,683.9 |
38,448.8 |
|
|
|
|
|
|
|
|
Equity in Affiliates |
799.8 |
831.1 |
771.7 |
674.7 |
282.2 |
|
Other Financial Result |
-1,740.3 |
846.0 |
305.8 |
-766.4 |
-484.1 |
|
Net Income Before Taxes |
3,039.1 |
4,823.7 |
3,639.1 |
2,443.1 |
972.4 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
698.6 |
476.7 |
793.6 |
725.7 |
318.1 |
|
Net Income After Taxes |
2,340.5 |
4,347.0 |
2,845.4 |
1,717.4 |
654.2 |
|
|
|
|
|
|
|
|
Minority Interests |
-160.0 |
-191.5 |
-129.0 |
-128.6 |
-69.2 |
|
Net Income Before Extra. Items |
2,180.6 |
4,155.5 |
2,716.4 |
1,588.8 |
585.1 |
|
Net Income |
2,180.6 |
4,155.5 |
2,716.4 |
1,588.8 |
585.1 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
2,180.6 |
4,155.5 |
2,716.4 |
1,588.8 |
585.1 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
2,180.6 |
4,155.5 |
2,716.4 |
1,588.8 |
585.1 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
465.1 |
465.8 |
465.1 |
465.1 |
403.3 |
|
Basic EPS Excluding ExtraOrdinary Items |
4.69 |
8.92 |
5.84 |
3.42 |
1.45 |
|
Basic EPS Including ExtraOrdinary Item |
4.69 |
8.92 |
5.84 |
3.42 |
1.45 |
|
Diluted Net Income |
2,180.6 |
4,155.5 |
2,716.4 |
1,588.8 |
585.1 |
|
Diluted Weighted Average Shares |
465.2 |
465.9 |
465.1 |
465.1 |
403.3 |
|
Diluted EPS Excluding ExtraOrd Items |
4.69 |
8.92 |
5.84 |
3.42 |
1.45 |
|
Diluted EPS Including ExtraOrd Items |
4.69 |
8.92 |
5.84 |
3.42 |
1.45 |
|
DPS-Ordinary Shares |
0.00 |
2.99 |
0.00 |
0.00 |
0.00 |
|
DPS-Preference Shares |
0.00 |
3.07 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
1,404.2 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
3,039.1 |
4,823.7 |
3,639.1 |
2,443.1 |
972.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
698.6 |
476.7 |
793.6 |
725.7 |
318.1 |
|
Normalized Income After Taxes |
2,340.5 |
4,347.0 |
2,845.4 |
1,717.4 |
654.2 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
2,180.6 |
4,155.5 |
2,716.4 |
1,588.8 |
585.1 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
4.69 |
8.92 |
5.84 |
3.42 |
1.45 |
|
Diluted Normalized EPS |
4.69 |
8.92 |
5.84 |
3.42 |
1.45 |
|
Depreciation |
2,396.6 |
3,602.8 |
2,947.4 |
3,694.5 |
2,361.0 |
|
Amort of Intangibles, Supplemental |
690.4 |
- |
- |
- |
767.6 |
|
Research & Development Expenses |
2,597.5 |
2,311.3 |
2,158.9 |
2,528.4 |
2,081.6 |
|
Discount Rate |
5.30% |
4.90% |
4.20% |
4.80% |
5.10% |
Annual Balance Sheet
As
Reported
Except for share items (millions) and per
share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
0.683971 |
0.758351 |
|
Auditor |
PricewaterhouseCoopers AG |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash in Banks |
24,986.4 |
29,421.0 |
12,535.5 |
- |
- |
|
Cash/Equivalents |
60.4 |
47.3 |
633.9 |
14,784.2 |
12,351.8 |
|
Securities |
7,379.9 |
4,777.7 |
5,240.5 |
9,671.5 |
6,713.2 |
|
Raw Materials |
3,345.8 |
2,912.5 |
2,792.6 |
3,253.1 |
2,717.7 |
|
Work in Progress |
2,464.4 |
2,281.3 |
2,301.9 |
1,995.7 |
1,770.9 |
|
Finished Goods |
14,514.2 |
12,686.1 |
17,231.1 |
15,241.9 |
11,933.8 |
|
Current Leased Assets |
3,313.6 |
2,259.7 |
2,367.3 |
- |
- |
|
Pay. on Account |
14.8 |
123.4 |
72.3 |
23.4 |
11.9 |
|
Trade Receivables |
9,233.9 |
8,166.6 |
8,297.2 |
8,320.5 |
6,657.9 |
|
Financial Service Receivables |
40,466.5 |
39,316.5 |
37,580.0 |
36,425.5 |
30,890.7 |
|
Receivables to Affiliates/Join Ventures |
2,055.3 |
2,086.1 |
4,327.2 |
- |
- |
|
Other Assets |
4,266.1 |
4,487.9 |
7,764.8 |
- |
- |
|
Other Receivables |
2,539.6 |
1,929.7 |
1,903.0 |
9,727.0 |
7,347.5 |
|
Current Tax Receivables |
646.6 |
1,093.3 |
1,423.4 |
731.0 |
344.2 |
|
Assets Held for Sale |
- |
0.0 |
1,399.8 |
0.0 |
- |
|
Total Current Assets |
115,287.4 |
111,589.1 |
105,870.4 |
100,173.8 |
80,739.6 |
|
|
|
|
|
|
|
|
Goodwill, Net |
4,574.7 |
4,202.4 |
3,851.8 |
- |
- |
|
Intangibles |
25,199.7 |
26,372.1 |
23,925.5 |
- |
- |
|
Concessions, Rights & Licences |
-12,194.7 |
-12,056.2 |
-10,692.3 |
98.0 |
83.1 |
|
Cap. Costs for Prod Under Develop. |
- |
- |
- |
2,833.5 |
2,468.5 |
|
Cap. Costs for Products In Use |
- |
- |
- |
15,307.7 |
13,379.0 |
|
Other Intangible Assets |
- |
- |
- |
2,003.0 |
1,695.8 |
|
Amortisation |
- |
- |
- |
-10,550.2 |
-8,398.5 |
|
Goodwill |
- |
- |
- |
293.9 |
257.1 |
|
Amortisation |
- |
- |
- |
- |
0.0 |
|
Land/Buildings |
24,798.6 |
24,841.3 |
22,486.8 |
21,088.6 |
18,647.0 |
|
Tech. Eqp./Mach. |
40,690.6 |
41,157.2 |
36,910.0 |
36,621.4 |
32,357.0 |
|
Factory/Off.Eqp. |
51,740.9 |
51,889.2 |
47,160.2 |
47,692.1 |
41,288.3 |
|
Construction |
4,244.7 |
4,350.2 |
4,293.9 |
2,684.3 |
2,001.7 |
|
Depreciation |
-86,799.6 |
-87,168.2 |
-78,711.6 |
-79,813.3 |
-67,472.7 |
|
Leasing/Rental |
- |
- |
- |
11,958.1 |
10,398.9 |
|
Leasing/Rental Assets |
21,281.0 |
19,713.5 |
17,646.7 |
- |
- |
|
Investment property |
575.5 |
548.1 |
424.0 |
- |
- |
|
Accumulated Depreciation on Leasing prop |
-5,672.1 |
-5,190.9 |
-4,115.9 |
- |
- |
|
Investment Property |
- |
- |
- |
222.2 |
201.8 |
|
Investment in Co's Using Equity Method |
18,148.5 |
14,899.9 |
8,858.8 |
11,396.7 |
9,067.0 |
|
Other Equity Investments |
858.6 |
779.1 |
810.4 |
801.2 |
540.6 |
|
Other Receivables & Fin. Assets |
10,087.1 |
5,376.0 |
4,708.1 |
3,532.3 |
2,634.7 |
|
Financial Services Receivable |
48,050.3 |
47,596.4 |
44,280.0 |
40,238.5 |
34,878.3 |
|
Non-Current Tax Receivables |
924.3 |
982.8 |
1,060.6 |
1,391.9 |
1,358.2 |
|
Deferred Taxes |
5,698.9 |
4,322.9 |
4,648.3 |
4,545.5 |
4,006.1 |
|
Total Assets |
267,494.3 |
254,204.7 |
233,415.8 |
212,519.2 |
180,131.5 |
|
|
|
|
|
|
|
|
Trade Payables |
16,828.4 |
14,670.3 |
13,450.1 |
13,303.2 |
10,799.7 |
|
Bonds |
12,536.8 |
15,519.7 |
9,904.1 |
10,151.0 |
9,879.3 |
|
Capital Leases |
34.9 |
33.0 |
44.5 |
30.7 |
21.1 |
|
Other Financial Debt |
40,893.1 |
42,706.8 |
40,264.2 |
31,745.5 |
29,689.4 |
|
Provision for Taxes |
2,786.4 |
1,396.0 |
1,612.5 |
2,672.6 |
- |
|
Current Tax Payables |
383.7 |
104.7 |
82.0 |
143.3 |
44.8 |
|
Accrued Expenses |
4,564.0 |
3,582.6 |
3,414.0 |
- |
- |
|
Due to Affiliate |
398.4 |
460.6 |
230.7 |
- |
- |
|
Advance Payments |
2,571.8 |
1,753.3 |
1,609.7 |
- |
- |
|
Other Liabilities |
6,722.5 |
6,021.6 |
6,623.6 |
10,357.2 |
8,351.0 |
|
Current Provisions |
15,445.3 |
13,515.3 |
11,777.9 |
13,570.7 |
11,742.6 |
|
Liabs Held for Sale |
- |
0.0 |
1,064.8 |
0.0 |
- |
|
Total Current Liabilities |
103,165.2 |
99,763.9 |
90,078.0 |
81,974.2 |
70,528.0 |
|
|
|
|
|
|
|
|
Bonds |
26,015.3 |
30,710.8 |
27,345.1 |
29,773.2 |
25,287.8 |
|
Capital Leases |
313.9 |
262.6 |
244.6 |
282.2 |
263.7 |
|
Other LT Financial Debt |
23,521.4 |
22,102.3 |
18,639.2 |
12,804.6 |
12,338.6 |
|
Total Long Term Debt |
49,850.7 |
53,075.7 |
46,228.9 |
42,860.0 |
37,890.1 |
|
|
|
|
|
|
|
|
Minority Interest |
3,667.8 |
3,083.3 |
3,304.1 |
92.1 |
72.5 |
|
Pension Provision |
20,702.8 |
19,994.7 |
18,008.1 |
18,426.2 |
18,268.6 |
|
Tax Provision |
4,843.0 |
5,661.5 |
4,941.6 |
3,326.2 |
3,410.0 |
|
Provisions |
14,985.1 |
14,473.8 |
12,611.9 |
12,099.9 |
9,357.1 |
|
Deferred Tax |
2,239.0 |
3,190.9 |
5,079.2 |
3,855.4 |
2,840.4 |
|
Other Liabilities |
6,361.6 |
4,344.4 |
4,496.8 |
3,282.3 |
2,287.9 |
|
Total Liabilities |
205,815.2 |
203,588.2 |
184,748.8 |
165,916.4 |
144,654.6 |
|
|
|
|
|
|
|
|
Share Capital |
1,597.8 |
1,470.6 |
1,423.4 |
1,484.0 |
1,323.9 |
|
Paid in Capital |
12,511.3 |
7,684.5 |
7,438.2 |
7,517.9 |
6,516.8 |
|
Retained Earnings |
50,555.0 |
45,348.1 |
39,805.5 |
37,601.0 |
27,636.3 |
|
Currency Adj Res |
-221.4 |
-2,698.8 |
- |
- |
- |
|
Reserves |
-2,952.8 |
-1,827.9 |
- |
- |
- |
|
C/F Hedge Res. |
81.8 |
1,233.9 |
- |
- |
- |
|
Fair value reserve for securities |
-33.5 |
-1.4 |
- |
- |
- |
|
Equity accounted investment |
143.5 |
-586.8 |
- |
- |
- |
|
Adjustment |
- |
-2.9 |
- |
- |
- |
|
Total Equity |
61,681.8 |
50,619.4 |
48,667.0 |
46,602.8 |
35,477.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
267,497.0 |
254,207.6 |
233,415.8 |
212,519.2 |
180,131.5 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
295.0 |
295.0 |
294.9 |
291.3 |
287.0 |
|
S/O-Preference Shares |
170.1 |
105.9 |
105.9 |
105.9 |
105.9 |
|
Total Common Shares Outstanding |
465.2 |
400.9 |
400.8 |
397.2 |
392.9 |
|
Deferred Revenue - Current |
2,571.8 |
1,753.3 |
1,609.7 |
- |
- |
|
Accumulated Intangible Amortization |
12,194.7 |
12,056.2 |
10,692.3 |
10,550.2 |
8,398.5 |
|
Accumulated Goodwill Amortization |
- |
- |
- |
- |
0.0 |
|
Full-Time Employees |
399,381 |
368,500 |
369,928 |
329,305 |
324,875 |
|
Financial Debt within 1 Year |
56,858.9 |
60,400.1 |
- |
- |
39,589.8 |
|
Financial Debt 1-5 Years |
49,988.8 |
48,559.1 |
- |
- |
31,072.7 |
|
Financial Debt over 5 Years |
5,936.4 |
7,386.1 |
- |
- |
6,817.4 |
|
Total Long Term Debt, Supplemental |
112,784.1 |
116,345.3 |
- |
- |
77,479.9 |
|
Capital Lease within 1 Year |
34.9 |
33.0 |
44.5 |
30.7 |
21.1 |
|
Capital Lease from 1-5 Years |
175.7 |
130.6 |
93.1 |
109.7 |
97.6 |
|
Capital Lease over 5 Years |
138.2 |
132.0 |
151.5 |
172.5 |
166.1 |
|
Total Capital Leases |
348.8 |
295.6 |
289.1 |
312.9 |
284.8 |
|
Operating Lease within 1 Year |
1,761.5 |
1,770.5 |
- |
1,805.6 |
1,661.5 |
|
Operating Lease from 1-5 Years |
1,530.7 |
1,637.0 |
- |
1,812.9 |
1,627.2 |
|
Operating Lease over 5 Years |
0.0 |
0.0 |
- |
59.9 |
52.7 |
|
Total Operating Leases |
3,292.2 |
3,407.5 |
- |
3,678.5 |
3,341.5 |
|
Present Value of Funded Obligations |
6,553.5 |
5,911.2 |
4,503.8 |
4,868.6 |
4,265.8 |
|
FV of Plan Assets |
6,109.4 |
5,526.7 |
4,382.8 |
5,003.1 |
4,165.6 |
|
Funded Status |
-444.1 |
-384.5 |
-120.9 |
134.5 |
-100.2 |
|
Unfunded Obligations |
20,104.5 |
19,443.7 |
17,713.4 |
18,322.4 |
18,002.2 |
|
Total Funded Status |
-20,548.5 |
-19,828.2 |
-17,834.3 |
-18,187.9 |
-18,102.4 |
|
Discount Rate |
4.90% |
5.40% |
5.75% |
5.50% |
- |
|
Expected Return on Plan Assets |
4.25% |
5.00% |
5.00% |
5.00% |
- |
|
Salary Trend |
2.70% |
2.50% |
2.50% |
2.50% |
- |
|
Pension Trend |
1.00% |
1.00% |
1.00% |
1.00% |
- |
|
Discount Rate/Abroad |
1.20% |
1.20% |
2.00% |
2.00% |
- |
|
Expected Return on Plan Assets/Abroad |
3.00% |
4.00% |
2.00% |
2.00% |
- |
|
Salary Trend/Abroad |
1.60% |
1.50% |
1.50% |
2.00% |
- |
|
Pension Trend/Abroad |
0.80% |
0.80% |
0.80% |
2.20% |
- |
|
Provision for Pension |
-20,702.8 |
-19,994.7 |
- |
- |
- |
|
Other Assets |
76.5 |
77.5 |
- |
- |
- |
|
Net Assets Recognized on Balance Sheet |
-20,626.3 |
-19,917.2 |
- |
- |
- |
|
Equities |
29.80% |
29.30% |
20.10% |
35.60% |
- |
|
Fixed-Income Securities |
52.90% |
53.20% |
54.80% |
52.40% |
- |
|
Cash |
8.00% |
7.40% |
18.70% |
5.00% |
- |
|
Real Estate |
4.30% |
4.10% |
2.50% |
3.10% |
- |
|
Other Assets |
5.10% |
6.00% |
3.90% |
3.90% |
- |
Interim Balance Sheet
As
Reported
Financials in: USD (mil)
Except for share items (millions) and per
share items (actual units)
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.704672 |
0.745406 |
0.732493 |
0.816393 |
0.739044 |
|
|
|
|
|
|
|
|
Raw Materials |
3,661.3 |
3,345.8 |
3,546.8 |
2,854.0 |
2,993.1 |
|
Work in Progress |
2,650.9 |
2,464.4 |
2,517.4 |
2,046.8 |
2,072.9 |
|
Finished Goods &Merchandise |
18,644.1 |
14,514.2 |
13,159.2 |
11,903.6 |
13,441.7 |
|
Current Leased Assets |
4,854.7 |
3,313.6 |
3,576.8 |
3,254.6 |
2,826.6 |
|
Payments on Account |
103.6 |
14.8 |
9.6 |
9.8 |
83.9 |
|
Receivable Financial Services |
44,237.6 |
40,466.5 |
38,609.2 |
35,309.0 |
37,555.3 |
|
Receivables & Other Financial Ass. |
11,699.1 |
18,741.5 |
21,237.1 |
17,599.4 |
20,322.2 |
|
Trade Receivables |
12,253.9 |
- |
- |
- |
- |
|
Securities |
7,768.2 |
7,379.9 |
6,544.8 |
4,955.9 |
4,722.3 |
|
Liquid Funds |
30,412.7 |
25,046.7 |
29,978.4 |
25,611.4 |
28,845.4 |
|
Total Current Assets |
136,286.1 |
115,287.4 |
119,179.2 |
103,544.5 |
112,863.4 |
|
|
|
|
|
|
|
|
Intangibles |
20,227.9 |
17,579.7 |
17,628.8 |
15,757.1 |
17,771.6 |
|
Fixed Assets, Net |
37,716.8 |
34,675.0 |
33,654.9 |
30,288.1 |
33,355.3 |
|
Leasing/Rental |
17,158.3 |
15,846.4 |
15,201.5 |
14,347.3 |
14,643.2 |
|
Non-Current Investments/Other Fin. Asset |
38,706.0 |
36,055.5 |
33,470.6 |
28,964.0 |
45,745.6 |
|
Receivables Financial Services |
52,535.1 |
48,050.3 |
48,081.0 |
43,454.6 |
30,170.1 |
|
Total Assets |
302,630.2 |
267,494.3 |
267,216.1 |
236,355.5 |
254,549.2 |
|
|
|
|
|
|
|
|
Current Financial Liabilities |
63,553.0 |
53,463.5 |
56,257.2 |
50,599.4 |
51,274.4 |
|
Trade Payables |
20,409.5 |
16,828.4 |
17,069.1 |
15,487.6 |
15,950.3 |
|
Liabilities |
37,966.6 |
32,872.0 |
32,606.4 |
29,207.7 |
30,592.2 |
|
Total Current Liabilities |
121,929.1 |
103,163.9 |
105,932.7 |
95,294.8 |
97,817.0 |
|
|
|
|
|
|
|
|
Financial Liabs. |
54,513.3 |
49,850.7 |
48,651.6 |
44,613.3 |
54,276.9 |
|
Total Long Term Debt |
54,513.3 |
49,850.7 |
48,651.6 |
44,613.3 |
54,276.9 |
|
|
|
|
|
|
|
|
Minority Interest |
4,023.1 |
3,667.8 |
3,497.6 |
2,955.7 |
3,120.2 |
|
Pension Provisions |
20,982.8 |
20,702.8 |
22,629.6 |
18,787.5 |
19,764.7 |
|
Other Liabilities |
31,130.8 |
28,428.8 |
29,013.2 |
27,512.5 |
26,002.5 |
|
Total Liabilities |
232,579.1 |
205,813.9 |
209,724.8 |
189,163.8 |
200,981.4 |
|
|
|
|
|
|
|
|
Subscribed Capital |
1,690.1 |
1,597.8 |
1,626.0 |
1,458.9 |
1,611.5 |
|
Capital Reserves |
13,234.5 |
12,511.3 |
12,730.5 |
11,419.7 |
12,615.0 |
|
Retained Earnings |
55,733.7 |
50,555.0 |
47,272.8 |
39,836.2 |
43,338.4 |
|
Currency Translation |
-850.0 |
-221.4 |
-724.9 |
-253.6 |
-1,359.9 |
|
Reserve for Actuarial Gain/Losses |
-2,371.3 |
-2,952.8 |
-4,137.9 |
-2,704.6 |
-2,328.7 |
|
Cash Flow Hedge Reserve |
2,658.0 |
81.8 |
774.1 |
-2,350.6 |
213.8 |
|
Fair Value Reserve |
-41.2 |
-33.5 |
10.9 |
-3.7 |
13.5 |
|
Equity Acc. Investment |
-1.4 |
143.5 |
-61.4 |
-210.7 |
-538.5 |
|
Total Equity |
70,052.5 |
61,681.8 |
57,489.9 |
47,191.7 |
53,565.2 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
302,631.6 |
267,495.7 |
267,214.7 |
236,355.5 |
254,546.5 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
295.0 |
295.0 |
295.0 |
295.0 |
295.0 |
|
S/O-Preference Shares |
170.1 |
170.1 |
170.1 |
170.1 |
170.1 |
|
Total Common Shares Outstanding |
465.2 |
465.2 |
465.2 |
465.2 |
465.1 |
|
Full-Time Employees |
427,184 |
399,381 |
389,714 |
377,074 |
371,289 |
|
Discount Rate |
5.30% |
4.90% |
4.20% |
4.80% |
5.10% |
Annual Cash Flows
As
Reported
Financials in: USD (mil)
Except for share items (millions) and per
share items (actual units)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified Normal |
Reclassified Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.755078 |
0.719047 |
0.683679 |
0.730637 |
0.796979 |
|
Auditor |
PricewaterhouseCoopers AG |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
PricewaterhouseCoopers LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Profit before Tax |
11,911.3 |
1,753.7 |
9,665.4 |
8,955.2 |
2,249.7 |
|
Depreciation |
10,424.1 |
10,117.6 |
10,259.2 |
7,438.7 |
7,443.1 |
|
Income Tax Paid |
-2,058.1 |
-735.7 |
-3,035.0 |
-1,604.1 |
-1,114.2 |
|
Amort. Cap. Dev Cost |
2,937.4 |
2,205.7 |
2,036.0 |
2,522.5 |
2,291.2 |
|
Depreciation of Financial Assets |
10.6 |
22.3 |
46.8 |
246.4 |
43.9 |
|
Depreciation of Assets & Property |
- |
- |
- |
2,436.2 |
2,013.9 |
|
Provisions |
3,514.9 |
2,308.6 |
744.5 |
2,267.9 |
4,259.8 |
|
Sale Non-Curr Assets |
135.1 |
-760.7 |
54.1 |
43.8 |
-406.5 |
|
Retained Group Earnings |
-994.6 |
-414.4 |
-320.3 |
-97.2 |
-258.5 |
|
Other Exp./Inc. |
-1,885.9 |
1,011.1 |
1,118.9 |
-15.1 |
16.3 |
|
Inventories |
-3,320.2 |
5,778.5 |
-4,469.9 |
-2,540.2 |
-184.4 |
|
Rcvbls. (excl. Fin.) |
-2,622.2 |
646.7 |
-1,949.7 |
-1,289.3 |
923.5 |
|
Liab's(excl Borrow.) |
5,382.2 |
361.6 |
1,192.1 |
3,071.3 |
878.3 |
|
Leasing and Rental assets |
-4,155.9 |
-3,575.6 |
-3,999.0 |
- |
- |
|
Financial Service Receivables |
-4,108.2 |
-999.9 |
-7,390.9 |
- |
- |
|
Change Scope Consol. |
- |
- |
- |
- |
6.3 |
|
Cash from Operating Activities |
15,170.6 |
17,719.3 |
3,952.1 |
21,436.1 |
18,162.3 |
|
|
|
|
|
|
|
|
Acq. Tang./Intang. |
-7,625.7 |
-8,292.9 |
-10,086.6 |
-6,347.9 |
-4,677.7 |
|
Capitalized Development Cost |
-2,207.7 |
-2,709.1 |
-3,241.3 |
-1,979.1 |
-1,854.5 |
|
Acq. Investments |
-2,852.7 |
-5,547.6 |
-3,798.6 |
-1,694.4 |
-3,412.9 |
|
Disposal of Equity Investments |
5.3 |
1,835.8 |
1.5 |
19.2 |
1,983.7 |
|
Financial Assets |
- |
- |
- |
- |
-23.8 |
|
Leasing/Rental Asset |
- |
- |
- |
-3,781.6 |
-3,172.0 |
|
Fin. Services Rcvbl. |
- |
- |
- |
-4,910.8 |
-4,470.6 |
|
Sale Non-Curr Assets |
393.3 |
212.8 |
139.0 |
253.2 |
682.6 |
|
Invest. Securities |
-4,338.6 |
1,375.4 |
2,985.3 |
-2,384.2 |
-1,238.4 |
|
Change in loans and time deposits |
1,994.5 |
-328.2 |
-2,356.4 |
-815.7 |
- |
|
Cash from Investing Activities |
-14,631.6 |
-13,453.9 |
-16,357.1 |
-21,641.4 |
-16,183.6 |
|
|
|
|
|
|
|
|
Capital Increase |
5,431.2 |
5.6 |
318.9 |
288.8 |
426.6 |
|
Dividends Paid |
-1,056.8 |
-1,215.5 |
-1,056.1 |
-680.2 |
-565.9 |
|
Capital Transactions/Minority Interest |
0.0 |
-545.2 |
-529.5 |
0.0 |
- |
|
Other Equity |
5.3 |
32.0 |
-4.4 |
-16.4 |
-28.9 |
|
Take -up of Bonds |
10,475.7 |
21,685.7 |
11,220.2 |
13,024.2 |
9,981.4 |
|
Repayment of Bonds |
-15,814.3 |
-14,188.2 |
-12,388.9 |
-11,611.8 |
-10,541.1 |
|
Other Borrowings |
-137.7 |
1,954.0 |
14,343.0 |
127.3 |
287.3 |
|
Fin. Lease Repayment |
-31.8 |
-32.0 |
-21.9 |
-54.7 |
-21.3 |
|
Loans to Group Co.s |
- |
- |
- |
- |
318.7 |
|
Cash from Financing Activities |
-1,128.4 |
7,696.3 |
11,881.3 |
1,077.1 |
-143.0 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
580.1 |
264.2 |
-165.3 |
-123.2 |
-74.0 |
|
Net Change in Cash |
-10.6 |
12,227.3 |
-688.9 |
748.7 |
1,761.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
24,149.8 |
13,132.7 |
14,501.0 |
12,820.3 |
9,991.5 |
|
Net Cash - Ending Balance |
24,140.5 |
25,360.0 |
13,812.0 |
13,569.0 |
11,753.1 |
|
Cash Interest Paid |
4,038.0 |
4,411.4 |
4,978.9 |
4,015.7 |
3,995.1 |
|
Cash Taxes Paid |
2,058.1 |
735.7 |
3,035.0 |
1,604.1 |
1,114.2 |
Interim Cash Flows
As
Reported
Financials in: USD (mil)
Except for share items (millions) and per
share items (actual units)
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
|
Period Length |
3 Months |
12 Months |
9 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
EUR |
EUR |
EUR |
EUR |
EUR |
|
Exchange Rate (Period Average) |
0.731463 |
0.755078 |
0.761121 |
0.754409 |
0.722987 |
|
|
|
|
|
|
|
|
Profit before Tax |
3,039.1 |
11,911.3 |
7,152.6 |
3,478.2 |
972.4 |
|
Depreciation |
3,081.5 |
10,424.1 |
9,780.3 |
6,839.8 |
3,123.2 |
|
Amort. Cap. Dev Cost |
- |
2,937.4 |
- |
- |
- |
|
Income Tax Paid |
-1,070.5 |
-2,058.1 |
-919.7 |
-691.9 |
-286.3 |
|
Pension Provision |
15.0 |
- |
109.0 |
67.6 |
12.4 |
|
Other |
920.1 |
-2,734.8 |
-1,098.4 |
503.7 |
-103.7 |
|
Inventories |
-2,262.6 |
-3,320.2 |
-2,340.0 |
-1,662.2 |
-1,711.0 |
|
Receivables |
-2,262.6 |
-2,622.2 |
-3,161.1 |
-3,271.4 |
-2,603.1 |
|
Liabilities |
3,277.0 |
5,382.2 |
5,869.0 |
4,369.0 |
3,904.6 |
|
Provisions |
1,862.0 |
3,514.9 |
2,995.6 |
2,364.8 |
1,882.5 |
|
Leasing and Rental Assets |
-1,197.6 |
-4,155.9 |
-2,834.0 |
-2,063.9 |
-958.5 |
|
Financial Services Receivables |
-1,974.1 |
-4,108.2 |
-1,775.0 |
-1,102.9 |
123.1 |
|
Cash from Operating Activities |
3,427.4 |
15,170.6 |
13,778.4 |
8,830.8 |
4,355.5 |
|
|
|
|
|
|
|
|
Purchase Fixed Assets |
-1,316.5 |
-7,625.7 |
-4,469.7 |
-2,611.3 |
-1,264.2 |
|
Purchased Research & Development |
-535.9 |
-2,207.7 |
- |
- |
-582.3 |
|
Capitalised Development Costs |
- |
- |
-1,763.2 |
-1,121.4 |
- |
|
Receivables Financial Services |
- |
1,994.5 |
- |
- |
- |
|
Acquisition of Equity Investments |
-3,990.6 |
-2,852.7 |
-2,698.7 |
-2,545.0 |
-2,438.5 |
|
Disposal of Equity Investments |
- |
5.3 |
- |
- |
- |
|
Sale Non-Curr Assets |
- |
393.3 |
- |
- |
- |
|
Other Investing |
120.3 |
- |
- |
- |
105.1 |
|
Investment in Securities |
-913.2 |
-4,338.6 |
-2,995.6 |
-2,677.6 |
589.2 |
|
Adjustment |
- |
- |
452.0 |
212.1 |
- |
|
Cash from Investing Activities |
-6,636.0 |
-14,631.6 |
-11,475.2 |
-8,743.3 |
-3,590.7 |
|
|
|
|
|
|
|
|
Capital Increase |
0.0 |
5,431.2 |
5,385.5 |
5,432.1 |
4,195.1 |
|
Financing Activities |
6,348.9 |
-6,559.6 |
-5,234.4 |
-5,672.0 |
-1,675.0 |
|
Cash from Financing Activities |
6,348.9 |
-1,128.4 |
151.1 |
-239.9 |
2,520.1 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-218.7 |
580.1 |
399.4 |
542.1 |
327.8 |
|
Net Change in Cash |
2,921.5 |
-10.6 |
2,852.4 |
391.0 |
3,612.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
24,919.9 |
24,149.8 |
23,958.1 |
24,171.2 |
25,221.8 |
|
Net Cash - Ending Balance |
27,841.5 |
24,140.5 |
26,811.8 |
24,562.3 |
28,834.5 |
|
Cash Taxes Paid |
1,070.5 |
2,058.1 |
919.7 |
691.9 |
286.3 |
Geographic
Segments
Financials in: As Reported (mil)
Annual
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Interim
Financials in: As Reported (mil)
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Business segments
Financials in: As Reported (mil)
Annual
|
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Financials
in: As Reported (mil)
Interim
|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.42 |
|
UK Pound |
1 |
Rs.72.70 |
|
Euro |
1 |
Rs.63.55 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.