Audi Group generates nine-month operating profit of EUR 4.2 billion (BILD)
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Ingolstadt (ots)
- Revenue of EUR 37.7 billion for January through September - CFO Axel Strotbek: "After three quarters of the year, we are still well on track to reach our target for the year." - Substantial rise in Audi deliveries: up 12.8 percent
The Audi Group is fully on course to achieve its target for the year. By the end of the third quarter, the Company had already delivered 1,097,540 (2011: 973,154) cars of the Audi brand to customers. Overall, the Audi Group generated revenue of EUR 37.7 (2011: 32.4) billion - a rise of 16.3 percent. This performance contributed towards a 6.1 percent increase in the Company's operating profit to EUR 4.2 (2011: 4.0) billion, representing an operating return on sales of 11.2 (2011: 12.2) percent.
Upon publication of the Third Quarter Report, Axel Strotbek, Member of the Board of Management of AUDI AG for Finance and Organization, commented: "After three quarters of the year, we are still well on track to reach our target for the year." 2012 will see the Company deliver over 1.4 million vehicles. Revenue will increase correspondingly, keeping the operating profit up on a par with the previous year.
The automaker continued to make good progress in the third quarter of the current fiscal year, delivering a total of 364,303 (2011: 320,262) cars of the Audi brand to customers. These brought in revenue amounting to some EUR 12.6 (2011: 10.9) billion - a year-on-year rise of 15.7 percent. The operating profit of EUR 1.3 (2011: 1.4) billion almost matched the previous year's high level. The operating return on sales was 10.5 (2011: 13.1) percent.
The performance over the first three quarters is above all attributable to substantially increased volume. The intensification of research and development activities as well as strategic market development programs, such as the Audi City retail concept which was opened in July, pushed up costs. On the other hand, Strotbek highlighted that higher productivity, improved processes and exchange rates favoring the Company had impacted profits positively.
Despite increased expenditure for new products and technologies of the future, the ongoing expansion of manufacturing structures and a tougher competitive environment, the Audi Group aims to remain among the automotive industry's world leaders for profitability at year- end.
With new models such as the Audi Q3 and the A1 Sportback, Audi intends to attract more customers to the brand in 2012. In the first nine months of the current fiscal year, the Company was able to increase its deliveries of vehicles worldwide by 12.8 percent. The new generation of the Audi A3 should likewise smooth the path to success for the brand. This three-door model has been on sale since the end of August. The new Audi A3 Sportback was unveiled at the Paris Motor Show in September and will start arriving at dealers from early 2013.
Publication of the Third Quarter Report 2012 at 10 a.m. CET at: www.audi.de/zwischenmitteilung2012_q3 www.audi.com/quarterly-report2012_q3 (English)
Pressekontakt:
Corporate Communications
Julio Schuback
Spokesman for Finance and Organization
Tel: +49 841 89-38455
e-mail: julio.schuback@audi.de
www.audi-mediaservices.com/reports
Original content of: Audi AG, transmitted by news aktuell