Audi Group: Best Result in Corporate History

Mar 08, 2011, 04:59 ET from Audi AG

    INGOLSTADT, Germany, March 8, 2011 /PRNewswire/ --

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    - A total of 1,092,411 Audi brand automobiles delivered during the 2010
      fiscal year; EUR35.4 billion in revenue, EUR3.34 billion operating
      profit; operating return on sales of 9.4 percent
    - Audi CEO Rupert Stadler: "Audi is growing profitably and across the
      board."
    - Cash flow from operating activities significantly higher than previous
      year at EUR5,797 million (4,119 million)
    - Highest employee profit-sharing payment in history: average of EUR6,513
      for each pay-scale employee
    - Outlook for 2011: more than 1.2 million deliveries of Audi brand
      automobiles planned
    - Audi CFO Axel Strotbek: "We want to grow sustainably and are targeting
      an operating return on sales at the same high level as the previous
      year."

The Audi Group has concluded the 2010 fiscal year with a record result. "The operating profit of EUR3.34 billion shows how profitable Audi is. We are growing not only in China, but in many regions around the world. The Audi brand has outpaced the growth of the overall market, especially in the United States," said Rupert Stadler, Chairman of the Board of Management of AUDI AG. "We've started the year off well and we're targeting more than 1.2 million deliveries to customers for the total year," Stadler said.

For Audi, 2010 was the best year for sales in the Company's history. Deliveries of Audi brand automobiles on worldwide markets rose last year by 15 percent to 1,092,411. Revenue rose during the 2010 financial year by a disproportionately high rate to EUR35,441 million (29,840 million)* - an increase of 18.8 percent.

The Audi Group significantly increased its operating profit by 108.2 percent to EUR3,340 million (1,604 million). The profit before tax, at EUR3,634 million (1,928 million) was 88.5 percent above that of the previous year. Profit after tax rose by 95.2 percent to EUR2,630 million (1,347 million).

The Company increased its operating return on sales to 9.4 percent (5.4 percent). Return on investment also reached a new peak, at 24.7 percent (11.5 percent).

Net liquidity increased by 25.5 percent to EUR13,383 million (10,665 million).

Record results for deliveries in more than 40 markets

In the past year Audi handed over 1,092,411 (949,729) automobiles to its customers worldwide. Sales thus rose 15.0 percent compared with the previous year. Deliveries in the Asia-Pacific sales region developed favorably. The brand with the four rings also grew in Western Europe (including Germany), and especially in the United States.

New hires total 1,200; largest investment program in company history

The Audi Group plans to invest more than EUR11 billion between 2011 and 2015 - with about EUR9.5 billion going to the development of new products and to hybrid and electromobility. More than EUR5 billion will be invested in the Ingolstadt and Neckarsulm sites in Germany.

Audi plans to continue the enlargement of its model range in the coming years at an unslowed pace. "Our attention remains particularly focused on the subject of sustainability. At Audi we believe this includes not only increasing the efficiency of our cars and the development of electric and hybrid models, but also the sustainable handling of resources," Stadler said. The brand with the four rings already offers 54 model and engine variants with CO2 emissions below 140 g/km (225.31 g/mile) - of which 17 emit less than 120 g/km (193.12 g/mile).

Highest employee profit-sharing payment in company history

AUDI AG has shared the success of the 2010 fiscal year with its employees: each of the roughly 42,500 pay-scale employees at the German sites received a profit-sharing payment averaging EUR6,513. This corresponds to roughly one and a half times the average monthly wage and is the highest payment since this profit-sharing plan came into existence.

Outlook for 2011: more than 1.2 million deliveries to customers; operating return on sales at the high level of the previous year

"The signs for 2011 are good, after a year which ended better than we expected back in January 2010. We expect continued growth in the overall economy this year, even if there is a slight weakening in comparison with the previous year," Stadler said. "Nonetheless, we have to remain alert, since the unpredictability of the financial and raw materials markets still carry a risk."

Audi has started off 2011 successfully, selling about 186,850 automobiles worldwide between January and February of this year - 21.6 percent more than during the same period of the previous year. The European markets have been exhibiting strong momentum; sales here grew by 17.5 percent to around 106,600 units (90,686). In the German domestic market alone, Audi delivered 32,290 cars to customers in the first two months of the year and thereby achieved a significant increase of 18.3 percent compared with the previous year (27,304).

Between January and February, 41,122 Chinese customers (31,906) chose Audi - 28.9 percent more than during the same period in 2010. The brand also continued to grow sharply in the United States. Deliveries here climbed by 22.3 percent to 15,565 (12,726) compared with the same period last year.

"We want to deliver more than 1.2 million Audi cars to customers worldwide during the current year, and thus build upon the success of the record year in 2010 without interruption," Stadler emphasized. "We are growing sustainably and are targeting an operating return on sales at the same high level as the previous year," Strotbek added.

    Corporate Communications
    Armin Gotz
    Press Spokesman for Finance and Organization
    Tel: +49-841-89-46607
    e-mail: armin.goetz@audi.de
    http://www.audi-mediaservices.com/apc

SOURCE Audi AG