11 Earnings per share

Basic earnings per share are calculated by dividing earnings attributable to Volkswagen AG shareholders by the weighted average number of ordinary and preferred shares outstanding during the reporting period. Since there were no transactions in 2020 and 2019 that had a dilutive effect on the number of shares, diluted earnings per share are equivalent to basic earnings per share.

In accordance with Article 27(2) No. 3 of the Articles of Association of Volkswagen AG, preferred shares are entitled to a €0.06 higher dividend than ordinary shares.

 

 

 

 

2020

 

2019

 

 

 

 

 

 

 

Weighted average number of:

 

 

 

 

 

 

Ordinary shares – basic/diluted

 

Shares

 

295,089,818

 

295,089,818

Preferred shares – basic/diluted

 

Shares

 

206,205,445

 

206,205,445

 

 

 

 

 

 

 

Earnings after tax

 

€ million

 

8,824

 

14,029

Earnings attributable to noncontrolling interests

 

€ million

 

−43

 

143

Earnings attributable to Volkswagen AG hybrid capital investors

 

€ million

 

533

 

540

Earnings attributable to Volkswagen AG shareholders

 

€ million

 

8,334

 

13,346

of which basic/diluted earnings attributable to ordinary shares

 

€ million

 

4,898

 

7,849

of which basic/diluted earnings attributable to preferred shares

 

€ million

 

3,435

 

5,497

 

 

 

 

 

 

 

Earnings per ordinary share – basic/diluted

 

 

16.60

 

26.60

Earnings per preferred share – basic/diluted

 

 

16.66

 

26.66