Audi Group: Record operating profit of EUR 2.5 billion in first-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 the second half 2011.
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