VOLKSWAGEN AG ORD (VLKAF.PK) H1 2010 (January-June) Earnings Call July 29, 2010 2:00 pm ET Executives Christine Ritz - Head of Group IR Hans Pötsch - Member of the Board of Management, Finance and Controlling Christian Klingler - Member of the Board of Management, Group Sales and Marketing Analysts Jochen Gehrke - Deutsche Bank Thierry Huon - Exane Horst Schneider - HSBC Adam Hull - WestLB Arndt Ellinghorst - Credit Suisse Charles Winston - Redburn Partners Max Warburton - Bernstein Jose Asumendi - RBS John Buckland - MF Global Christian Breitsprecher - Macquarie John Schwartz - Reuters Marc Schneider - Handelsbank PresentationOperator
Ladies and gentlemen, welcome to Volkswagen's conference call on the results for the period January to June 2010 based on the interim report we published this morning. I am joined today by Hans Dieter Pötsch, Member of the Board of Management, Volkswagen AG, responsible for Finance and Controlling; and by Christian Klingler, Member of the Board of Management, Volkswagen AG, responsible for Group Sales and Marketing. As usual, you can also follow the webcast and download the charts from our website, www.volkswagenag.com/ir. Questions can be sent by e-mail or calling. After the presentation, we will first respond to the questions of analysts and later answer those of journalists. I would now like to hand you over to Mr. Pötsch. Hans Pötsch Thank you and allow me to add my warm welcome to those of you joining this call today. In June, we released an ad hoc statement advising that we were expecting a good first half in 2010. I am pleased to report to you today that our unit sales and operating profit have indeed considerably outperformed our initial expectations for the first six months, with unit sales of almost 3.6 million cars, trucks and buses, that's up 500,000 units on the first half of 2009; and with an operating result more than double at €2.8 billion.