Audi Group announced record
first-half operating profit of over EUR 1.3 billion
Audi e-tron manufacturing
Ingolstadt- EUR 17.6 billion
revenue for first half up 21 percent on previous year Operating
profit over EUR 1.3 billion in first half-year The Audi Group
increased its revenue by 21 percent in the first six months of
the current fiscal year to EUR 17.6 (2009: 14.5) billion.
Meanwhile the 61.6 percent rise in operating profit easily
outstripped revenue growth, setting a new Company record for the
first half-year of more than EUR 1.3 billion (EUR 823 million).
The Audi Group clearly benefited
from the worldwide recovery in demand and its attractive model
range. In the first six months of the fiscal year, deliveries by
the Audi brand rose to a new record high of 554,939 (465,804)
cars. This represents an increase of 19.1 percent on the
“Compared with the record
year of 2008, which is our real benchmark, we have achieved 7.5
percent growth,” emphasized Peter Schwarzenbauer, Member of the
Board for Marketing and Sales at AUDI AG.
In the first half of the year the
Audi Group recorded revenue of EUR 17.6 (14.5) billion, an
increase of almost 21 percent. This is a higher rate than the
growth in deliveries. The Company improved its operating profit
by 61.6 percent to more than EUR 1.3 billion (EUR 823 million),
and therefore by a much steeper rate than its revenue. “The
record profit reflects just how successful our strategy of
sustained, profitable growth is,” said Axel Strotbek, Member of
the Board for Finance and Organization at AUDI AG. “Another
example is our operating return for the past few years. Despite
the crisis, it has averaged a good seven percent,” continued
In the year in progress the Company is
also investing substantial amounts in new products and future
technologies, mainly in the areas of electric mobility and lightweight
construction. Twelve new models in total will be appearing on the market
in 2010, including the A1 entry-level model and the A7 Sportback.
All investment spending was again met
entirely from the Company’s own resources, with even a surplus
remaining. The net cash flow rose by a substantial 36.2 percent to EUR
1.9 (1.4) billion. “That impressively confirms the enduring financial
strength of the Audi Group,” said Strotbek. The sound financial basis of
the Company is also evidenced by the 10.6 percent rise in net liquidity
to EUR 11.8 billion in the first half.
The Audi Group is also confident about its
prospects for the year as a whole: “We want to increase deliveries to
customers to over 1,080,000 vehicles this year,” said Schwarzenbauer.
This is equivalent to growth of 13.7 percent compared with the previous
year, when Audi delivered 949,729 cars. “We are once again aiming for an
outstanding result for 2010, with our operating return on sales reaching
the same level as the first half-year,” added Strotbek. The latter ratio
was 7.6 (5.7) percent for the first six months of the fiscal year.