Consolidated Financial Statements

Income Statement

of the Volkswagen Group for the period January 1 to December 31, 2022

€ million	Note	2022	2021

Sales revenue	1	279,232	250,200
Cost of sales	2	−227,005	−202,959
Gross result		52,228	47,241
Distribution expenses	3	−19,840	−19,228
Administrative expenses	4	−11,689	−10,420
Other operating income	5	19,238	14,731
Other operating expenses	6	−17,812	−13,049
Operating result		22,124	19,275
Share of the result of equity-accounted investments	7	2,395	2,321
Interest income	8	1,325	810
Interest expenses	8	−442	−1,818
Other financial result	9	−3,359	−463
Financial result		−81	851
Earnings before tax		22,044	20,126
Income tax income/expense	10	−6,208	−4,698
Current		−5,262	−4,612
Deferred		−946	−86
Earnings after tax		15,836	15,428
of which attributable to
Noncontrolling interests		393	46
Volkswagen AG hybrid capital investors		576	539
Volkswagen AG shareholders		14,867	14,843

Basic/diluted earnings per ordinary share in €	11	29.63	29.59
Basic/diluted earnings per preferred share in €	11	29.69	29.65