Volkswagen Said To Report Monster Profits This Week

Germany's Hannoversche Allgemeine, usually well informed in Volkswagen matters, got its hands on hot data: Volkswagen's 2011 balance sheet , which will be presented to the Supervisory Board on Monday. According to the paper, Volkswagen more than doubled its annual profit to €16 billion ($21.4 billion.) Not all of this will be free cash: The number contains unrealized profits from stock options in relationship to the Porsche takeover. Volkswagen stockholders can expect a dividend of €3 per share, says the paper. Stockholders probably expected a bigger share of the hefty profits. Unions also demand more money. Usually, 10 percent of the profits are bonussed-out to the workforce, but as "Volkswagen was never really affected by the crisis," Volkswagen works council chief Bernd Osterloh wants "a healthy amount on top." According to the well-informed paper, the Supervisory Board will not be presented imminent plans of a final Porsche takeover. Volkswagen's legal team has developed an intricate plan than allows a merger in a tax-efficient manner, however, Wolfsburg still is waiting for word from the tax authorities to see what kind of a share they want. The minute you have profits, everybody wants their cut.   from The Truth About Cars http://www.thetruthaboutcars.com

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