DGAP-Ad-hoc: VOLKSWAGEN AG / Key word(s): Miscellaneous VOLKSWAGEN AG: Volkswagen informs: Operating Result for the Volkswagen Group is significantly higher than market expectations for the first quarter of 2017 18-Apr-2017 / 15:50 CET/CEST Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Volkswagen informs: Operating Result for the Volkswagen Group is significantly higher than market expectations for the first quarter of 2017 The preliminary Group Operating Result for the first quarter is around EUR4.4bn. The key difference in the Group Operating Result to market expectations relates among others in particular to improvements in the result of the Volkswagen Brand (which came in at around EUR0.9bn) in the first quarter. Causal factors for the Volkswagen Brand result include the success of new model introductions, particularly the Tiguan, and a strong financial performance in the West European market. Optimized fixed costs also positively affected the result. Other brands within the Group also contributed to the good performance. With regards to the Group's operating profit Outlook, we continue to anticipate that the operating return on sales will be between 6.0% and 7.0% in 2017. The full interim report will be published on Wednesday, May 3rd. --------------------------------------------------------------------------- 18-Apr-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: VOLKSWAGEN AG Berliner Ring 2 38440 Wolfsburg Germany Phone: +49 (0)5361 9 - 49840 Fax: +49 (0)5361 9 - 30411 E-mail: [email protected] Internet: www.volkswagenag.com/ir ISIN: DE0007664039, DE0007664005 WKN: 766403, 766400 Indices: DAX, Euro Stoxx 50 Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange; Luxemburg, SIX End of Announcement DGAP News Service --------------------------------------------------------------------------- 565293 18-Apr-2017 CET/CEST