Audi Group: Record operating profit of EUR 2.5 billion in first-half of 2011
Ingolstadt (ots)
- EUR 21.5 billion revenue around 23 percent up on prior year - CEO Rupert Stadler: "We have continued the positive trend of last year with great success in the first half of 2011." - Strong growth with A1, A7 Sportback, A8 and Q-family - Board Member for Finance Strotbek: "We also intend to achieve a double-digit operating return on sales in the second half of 2011."
The Audi Group has achieved a new record with 652,970 (2010: 554,864) deliveries of Audi automobiles worldwide in the first six months of the current fiscal year. Moreover, the company has booked record figures for all key financial indicators.
"We have continued the positive trend of last year in the first half of 2011 with great success," said Rupert Stadler, CEO of AUDI AG, at the announcement of the half-year figures.
The new Audi A1 proved to be particularly successful - more than 63,000 vehicles have already been delivered to customers by June. The Audi brand also booked strong growth in the C and D segments. Besides the A8, which has continually increased its market share since its launch last year, the A7 Sportback also boosted the figures. Moreover, there was continued strong demand for the top- selling SUV models Q5 and Q7.
Alongside the dynamic growth in sales, an enhanced range of equipment and a strong price position thanks to improved image values also had a positive impact on revenue.
Overall, the Audi Group increased revenue in the first half of 2011 by 22.5 percent on the prior year to EUR 21.5 billion (2010: 17.6 billion). This represents a considerably higher rate than the growth in deliveries. Operating profit rocketed a massive 90.9 percent to EUR 2.5 billion (2010: 1.3 billion), setting a new record.
"This success is the result of the significant rise in deliveries, an improved model mix and our continual cost optimization measures," said Axel Strotbek, Board Member for Finance and Organization.
The profitability of the Audi Group has also risen. With an operating return on sales of 11.8 percent (2010: 7.6 percent), the company has clearly surpassed its goal of achieving a long-term average return of 8 to 10 percent. "After the highly successful first six months we also intend to achieve a double-digit operating return on sales in the second half of 2011," Strotbek added.
Yet the CFO also made reference to the ongoing risks: "Given the immense public debt of significant economies, the volatile trend in markets and the rise in the price of key commodities, which is primarily driven by speculation, the entire automotive industry is facing huge challenges."
That said, the company is confident that it can continue its growth trend. The worldwide availability of the new A6 Limousine and market launches of the A6 Avant and Q3 are set to drive growth in second half 2011.
Axel Strotbek, CFO of AUDI AG, will present the figures for first half of 2011 today from 2 p.m. in an audio webcast. Registration at www.audi.com/webcast-1st-half-2011 .
Der interim report is available at: http://www.audi.de/halbjahresfinanzbericht2011 http://www.audi.com/interim-financial-report2011
The Audi Group sold around 1,092,400 cars of the Audi brand in 2010. The Company posted revenue of EUR 29.8 billion and an operating profit of EUR 1.6 billion in 2009. Audi produces vehicles in Ingolstadt and Neckarsulm (Germany), Györ (Hungary), Changchun (China) and Brussels (Belgium). Aurangabad in India saw the start of CKD production of the Audi A6 at the end of 2007, of the Audi A4 in early October 2008 and of the Audi Q5 in July 2010. Production of the new Audi A1 has been running at the Brussels plant since May 2010. The Company is active in more than 100 markets worldwide. AUDI AG's wholly owned subsidiaries include AUDI HUNGARIA MOTOR Kft., Automobili Lamborghini Holding S.p.A. in Sant'Agata Bolognese (Italy) and quattro GmbH in Neckarsulm. Audi currently employs around 60,000 people worldwide, including around 46,600 in Germany. Between 2011 and 2015 the brand with the four rings is planning to invest around EUR 11.6 billion, mainly in new products, in order to sustain the Company's technological lead embodied in its "Vorsprung durch Technik" slogan. By 2015, Audi plans to increase the number of models in its portfolio to 42. AUDI AG will present the full results for the 2010 fiscal year at its Annual Press Conference on March 8, 2011.
Audi has long been fulfilling its social responsibility on many levels - with the aim of making the future worth living for generations to come. The basis for Audi's lasting success is therefore formed by environmental protection, the conservation of resources, international competitiveness and a forward-looking human resources policy. One example of AUDI AG's commitment to environmental issues is the newly established Audi Environmental Foundation.
contact:
Corporate Communications
Julio Schuback
Press Spokesman for Finance and Organization
Tel: +49 841 89-38455
e-mail: julio.schuback@audi.de
www.audi-mediaservices.com
Original content of: Audi AG, transmitted by news aktuell