German carmaker Volkswagen AG (VW) net profit rose 75% to 15.43 billion euros in 2021 from 8.82 billion euros in 2020.

Adjusted operating profit rose to 19.28 billion euros from 9.68 billion euros a year earlier, the company said in a press release.

Revenue rose 12.3% to €250.2 billion from €222.88 billion.ъ

The company also increased its year-end dividend. Dividends paid to ordinary shareholders will be €7.5, compared to €4.8 in 2020. Pref holders will receive 7.56 euros per share, up from 4.86 euros a year earlier.

VW forecasts revenue growth of 8-13% in 2022. Return on sales is expected to be 7-8.5%.

The company also noted that at the time of the forecast, there was a risk that recent events in Ukraine could have a negative effect on the company’s business and therefore it may be subject to changes based on the development of the situation.

VW’s capitalization has fallen by 12.6% over the past 12 months.