Consolidated Financial Statements Income Statement 219

Incoine Stateinent
of the Volkswagen Group for the period January 1 to December 31, 2021

€million Note 2021 2020

Sales revenue l 250,200 222,884

Cost of sales 2 -202,959 -183,937
Gross result 47,241 38,947
Distribution expenses 3 -19,228 -18,407
Administrative expenses 4 -10,420 -9,399
Other operating income 5 14,731 12,438
Other operating expenses 6 -13,049 -13,904
Operating result 19,275 9,675
Share of the result of equity-accounted investments 7 2,321 2,756
Interest income 8 810 793
Interest expenses 8 -1,818 -2,291
other financial result 9 -463 733
Financial result 851 1,991
Earnings before tax 20,126 11,667
Income tax income/expense 10 -4,698 -2,843
Current -4,612 -3,150
Deferred -86 307
Earnings after tax 15,428 8,824
of which attributable to
Noncontrolling interests 46 -43
Volkswagen AG hybrid capital investors 539 533
Volkswagen AG shareholders 14,843 8,334

Basic/diluted earnings per ordinary share in€ 11 29.59 16.60

Basic/diluted earnings per preferred share in€ 11 29.65 16.66