114 th Annual General Meeting of Shareholders of AUDI AG
After record-breaking 2002: Q1 2003 figures remain at high level of previous year, despite difficult market conditions
Ingolstadt (ots)
- Audi adheres to forecast of new record-high vehicle sales for
2003 as a whole
- Launches of new emotive, sporty models
- Building market position - strongest growth in ChinaIn the first quarter of 2003, Audi was able to maintain worldwide vehicle sales at virtually the same high level as in the previous year despite the unfavourable economic climate, and actually succeeded in boosting revenue. "Although we were unable to buck weak market trends in every area, the figures for the first quarter nevertheless show how strong the brand with the four-ring badge is even in difficult times. Our objective for this year remains to improve on our previous vehicle sales record from 2002. We need to work in the same committed manner if we are to achieve this," remarked the Chairman of the Board of Management of AUDI AG, Dr. Martin Winterkorn, at today's 114 th Annual General Meeting of Shareholders in Ingolstadt.
Adressing the shareholders, Winterkorn emphasised Audi's intention to build on its strong market position in the premium segment in Germany and Europe, and most particularly in the USA and China, over the next few years. "New emotive, sporty products that we will bring onto the market this year and in the years that follow will bring us closer to this goal," added Winterkorn. As examples from the current year, he cited the market launch of the new Audi A3, which made ist début on May 9 th , as well as the Audi S4 and further important engine versions of the Audi A8 and Audi TT, together with a new crossover model for the future. He also highlighted plans to sharpen the brand's profile and measures to optimise processes and costs within the group.
2002 financial year - seventh record-breaking year in succession for Audi
Rupert Stadler, AUDI AG Board Member for Finance and Organisation, once again presented the details of Audi's seventh record-breaking year in a row, the 2002 financial year. The revenue of the Audi Group rose by 2.6 percent to EUR 22.6 billion. Net profit improved by 0.7 percent to EUR 774 million. Earnings per share totalled EUR 17.94 (EUR 17.89).
Profit before tax totalled EUR 1.25 billion in 2002, revealing a slight decrease of EUR 67 million on the previous year. "Unfavourable exchange rates and higher development spending had an adverse effect on profit in the past financial year," explained Stadler. Vehicle sales of the Audi brand worldwide were boosted to 742,128 units in 2002 (plus 2.2 percent). In Europe (excluding Germany), vehicle sales actually rose by five percent to 319,197 units. This represented Audi's highest-ever market share in Western Europe of 3.8 percent. Audi moreover achieved an outstanding sales performance in key markets such as the USA (plus 2.9%), Great Britain (plus 21.1%), Italy (plus 6.6%), Japan (plus 43.3%) and China (plus 26.1%).
First quarter of 2003 on a par with previous year
Vehicle sales of Audi models worldwide in the first quarter of 2003 remained virtually unchanged from the corresponding quarter of 2002, at 182,000. Vehicles of the other Volkswagen Group brands that are sold via the Italian general importer Autogerma pushed the total vehicle sales of the Audi Group to over 250,000 units. Lamborghini sold a total of 117 sports cars between January and March 2003. The figure at the corresponding stage of last year was 54.
China remained Audi's fastest-growing market in the first three months of 2003. Some 12,170 vehicles were sold there in the first three months of the year. The figure in the same period last year was around 6,600 (plus 85%).
The revenue of the Audi Group rose by 2.4 percent in the first three months of 2003, to EUR 5.658 billion. Production of cars and engines likewise rose by 1.5 and 7.5 percent respectively. The employee total at March 31, 2003 showed a year-on-year 1.6 percent rise to 51,621 employees.
Winterkorn reminded the audience that the overall situation remained difficult: "The situation in certain markets, including Germany, still has to be regarded as critical. However, we anticipate that Audi will be capable of holding in check the prevailing unfavourable trends in key markets. We intend to achieve this through the launch of the new Audi A3 and other attractive model versions, and by optimising costs while at the same time achieving greater flexibility in our operations."
Note: Three photos are available via dpa/obs. The press text, speeches and further photos can be accessed on www.audi-press.com, "Corporate" button. Please use the following user ID until May 18: HV2003, password: press03
ots Original Text: Audi AG Internet: http://www.presseportal.de
Communication: Corporate and Finance Jürgen De Graeve, telephone: +49 (0)841 89 34084, e-mail: juergen.degraeve@audi.de
Dr. Ute Röding, telephone: +49(0)841 89 36384 e-mail: ute.roeding@audi.de
Original content of: Audi AG, transmitted by news aktuell