1 Sales revenue

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STRUCTURE OF GROUP SALES REVENUE 2018¹

€ million

Passenger Cars and Light Commercial Vehicles

Commercial Vehicles

Power Engineering

Financial Services

Total Segments

Reconciliation

Volkswagen Group

1	Since January 1, 2019, sales revenue from the sale of light commercial vehicles of the Volkswagen Commercial Vehicles brand has not been reported in the Commercial Vehicles segment. The prior-year figures have been adjusted accordingly.

Vehicles

141,339

16,035

–

157,374

−10,548

146,826

Genuine parts

12,703

3,316

–

16,019

−100

15,919

Used vehicles and third-party products

11,776

1,387

–

13,163

−609

12,554

Engines, powertrains and parts deliveries

11,773

676

–

12,449

−9

12,440

Power Engineering

–

3,608

–

3,608

−3

3,605

Motorcycles

582

–

582

–

582

Leasing business

889

1,651

–

26,667

29,207

−4,200

25,006

Interest and similar income

230

–

7,302

7,537

−187

7,351

Hedges sales revenue

1,440

–

1,451

1,535

Other sales revenue

8,776

1,699

–

814

11,289

−1,258

10,031

189,508

24,781

3,608

34,782

252,680

−16,830

235,849

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STRUCTURE OF GROUP SALES REVENUE 2019
€ million	Passenger Cars and Light Commercial Vehicles	Commercial Vehicles	Power Engineering	Financial Services	Total Segments	Reconciliation	Volkswagen Group

Vehicles	154,377	17,387	–	–	171,764	−14,552	157,212
Genuine parts	13,329	3,464	–	–	16,793	−117	16,676
Used vehicles and third-party products	12,583	1,415	–	–	13,997	−549	13,449
Engines, powertrains and parts deliveries	11,496	641	–	–	12,137	−21	12,116
Power Engineering	–	–	3,997	–	3,997	−2	3,994
Motorcycles	603	–	–	–	603	0	603
Leasing business	986	1,735	0	30,795	33,517	−4,370	29,147
Interest and similar income	235	5	–	8,031	8,271	−205	8,066
Hedges sales revenue	−143	−18	–	0	−161	171	11
Other sales revenue	8,808	1,814	–	1,334	11,956	−597	11,359
	202,273	26,444	3,997	40,160	272,875	−20,242	252,632

For segment reporting purposes, the sales revenue of the Group is presented by segment and market.

Other sales revenue comprises revenue from workshop services and license revenue, among other things.

Of the sales revenue recognized in the period under review, an amount of €6,333 million was included in contract liabilities as of January 1, 2019.

€359 million (previous year: €667 million) of the sales revenue recognized in the period under review is attributable to performance obligations satisfied in a prior period.

In addition to existing performance obligations of €3,967 million (previous year: €3,614 million) in the Power Engineering segment, most of which are expected to be satisfied or for which sales revenue is expected to be recognized by December 31, 2020, the vast majority of the Volkswagen Group’s performance obligations that are unsatisfied as of the reporting date relate to vehicle deliveries. Most of these deliveries had already been made at the time this report was prepared, or will be made in the first quarter of 2020. The calculation of the amounts for the Power Engineering Business Area took account of both contracts with a term of more than one year and service contracts under which the Volkswagen Group realizes sales revenue in exactly the same amount as the customer benefits from the provision of services by the Company. In the case of variable consideration, sales revenue is only recognized to the extent that there is reasonable assurance that this sales revenue will not subsequently have to be reversed or adjusted downward.

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1 Sales revenue