stuart
12-05-2007, 08:33 PM
118th Annual General Meeting of AUDI AG
Record results for vehicles sales, revenue and profit
Successful start to 2007 – first quarter results:
Deliveries to customers: up 9.4 percent
Revenue: up 13.4 percent
Operating profit: up 14.6 percent
1 million vehicles to be sold by the end of 2008
EUR 3,700 profit sharing bonus per employee for 2007
Growth provides job security - 450 new graduates to be hired in 2007 AUDI AG has made a successful start to 2007, continuing the successful course
set in its record year of 2006. "We want to break the one million barrier by the
end of 2008," Rupert Stadler, Chairman of the Audi AG Board of
Management, said today at the 118th Annual General Meeting in Neckarsulm,
Germany. "With the outstanding results of 2006 and in the first quarter of this
year we have demonstrated once again how Audi is growing profitably. We will
continue our product drive systematically and will achieve even greater
successes in future - both in estab;ished markets as well as in new ones. By
2015, Audi will be number one," Stadler told shareholders.
Successful start to 2007
In 2006, Audi achieved record figures for production, vehicle sales, revenue,
and profit before tax. This trend has been continued in the first quarter of 2007.
Vehicle sales rose by 9.4 percent to 248,164 (226,802)* units worldwide. In
March alone, Audi handed over more than 100,000 vehicles to customers
worldwide – an all-time high. A few days ago, Audi published the quarterly
report on its revenue and profit for the first time. Compared to the same quarter
of last year, the sales revenue of the Audi Group increased by 13.4 percent to
EUR 8,679 (7,654) million.
Besides the encouraging development in the core model lineup, the Audi Q7 and
the TT models also played a key role. With EUR 401 (350) million, the
company increased its operating profit by 14.6 percent year on year.
In April, the brand with the four rings boosted its worldwide sales by
9.2 percent to 84,736 (77,624) units. The company thus sold 332,900 (304,426)
vehicles worldwide in the first four months of the year, up 9.4 percent
compared to one year ago.
Audi enjoyed strong growth on European export markets, with an increase of
11.9 percent to 39,457 units in April and 13.5 percent to 165,221 vehicles in the
first four months. Increasing sales in growth markets like Russia and India
confirm Audi's strategy of realising potential in these new markets. In Russia,
sales grew by 76.6 percent (4,409 units) in the first four months of the year.
During the same time, India posted growth of 75.6 percent (145 units). In order
to realise the growth potential in India, Audi will open seven new dealerships in
the course of this year and will begin local assembly in the autumn.
In its second home market, China (including Hong Kong), Audi achieved
growth of 23.7 percent in the first four months equaling 32,961 vehicles.
Looking at the US market, unit sales during the same period went up by
15.2 percent (29,134 vehicles).
Ralph Weyler, Member of the AUDI AG Board of Management for Marketing
and Sales, put it this way at the Annual General Meeting: "The 2006 financial
year and the first quarter of 2007 show that we are on the right track. We will
deliver 1.5 million vehicles to customers worldwide by the year 2015."
In order to attain these ambitious goals, Audi will continue its product drive in
2007 systematically. The all new TT Roadster has been in showrooms since
March. The hand-crafted Audi R8 sports car was launched in April. "Demand
has already exceeded our expectations," Stadler said. At the Geneva Motor
Show, Audi celebrated the world premiere of the new A5 and S5 models. These
cars will be launched at the end of June.
The brand with the four rings recently enlarged the range of its best-selling A3
and A4 models with particularly efficient version. The Audi 1.9 TDI e has
fuel consumption of just 4.5 litres per 100 km and emits a mere 119 g/km CO2.
Audi also offers this engine in the Audi A4 with fuel consumption of 5.3 litres
per 100 km.
Sustainable mobility is the goal of AUDI AG. "Under the motto 'Progressive
Performance', which was also used in this year's Annual Report, we are going
to implement various measures to achieve further significant reductions in fuel
consumption. In addition we will continue to push the development of
alternative fuels and drive systems," Stadler said. In order to meet the increased
need for engineers in development teams for clean diesel engines and hybrid
drive systems, Audi will hire 450 graduates this year. That is 100 more than
originally planned for 2007. 70 percent of the new recruits will work in
Technical Development.
In Germany alone, Audi provides 45,000 secure jobs. "Due to the excellent
performance of our motivated employees, AUDI AG enjoy tremendous success
today," Stadler stated at today's Annual General Meeting. For the second time,
directly related to the company's operating profit of the previous year. This
month, the company will pay EUR 81.5 (21.7) million in bonuses to employees.
That is almost four times as much as last year. Together with the profit-sharing
bonus paid annually in July for many years, employees will each receive an
average performance-related bonus of EUR 3,700 this year.
Audi will maintain a high level of employment. The agreement "Audi's Future -
Performance, Success, Participation" signed by the General Works Council and
the company management explicitly rules out layoffs until 2011.
With its recent decisions regarding production of the R8, A5 and Q5 models,
AUDI AG has shown once more how it beliefs in Germany as an important
production location. "At heart, we are a German company, although we think
and act on a global stage," Stadler announced.
Of course whenever a new model is launched, all factories being considered
have to demonstrate that they can provide the production facilities necessary,
particularly with regards to competitivness." By taking full management
responsibility for the factory in Brussles, Audi has made sure that the additional
production capacity it needs to continue its growth has been secured with
competitive conditions. The plant will be formally admitted to the Audi family
at a ceremony in Brussels on May 30th. "Brussels will then be part of our
success story," Stadler mentioned. The company will produce a new model there
- a compact, small, and sporty Audi.
2006: record year for sales, revenue and profit
Audi recorded excellent figures in the 2006 financial year. For the eleventh year
in a row, the Audi brand surpassed its record sales of the year before. In 2006,
905,188 vehicles (up 9.2 percent) were delivered to customers worldwide. The
sales revenue of the Audi Group increased by 17.1 percent to a new record of
EUR 31.1 billion. This growth rate is significantly higher than that for deliveries
to customers. Profit before tax rose by 48.5 percent to the best mark ever in the
company's history: EUR 1,946 million. With an operating profit of EUR 2,015
million, AUDI AG recorded even greater growth of 43.2 percent. The strength
of the 2006 financial year is also reflected in the improved rate of return before
return envisaged for 2008 has thus been achieved significantly earlier than
planned before. And with a return on investment of 14.2 percent in 2006, we
have already surpassed our envisaged ROI of 10 percent," Stadler commented.
* prior-year figures in brackets
Record results for vehicles sales, revenue and profit
Successful start to 2007 – first quarter results:
Deliveries to customers: up 9.4 percent
Revenue: up 13.4 percent
Operating profit: up 14.6 percent
1 million vehicles to be sold by the end of 2008
EUR 3,700 profit sharing bonus per employee for 2007
Growth provides job security - 450 new graduates to be hired in 2007 AUDI AG has made a successful start to 2007, continuing the successful course
set in its record year of 2006. "We want to break the one million barrier by the
end of 2008," Rupert Stadler, Chairman of the Audi AG Board of
Management, said today at the 118th Annual General Meeting in Neckarsulm,
Germany. "With the outstanding results of 2006 and in the first quarter of this
year we have demonstrated once again how Audi is growing profitably. We will
continue our product drive systematically and will achieve even greater
successes in future - both in estab;ished markets as well as in new ones. By
2015, Audi will be number one," Stadler told shareholders.
Successful start to 2007
In 2006, Audi achieved record figures for production, vehicle sales, revenue,
and profit before tax. This trend has been continued in the first quarter of 2007.
Vehicle sales rose by 9.4 percent to 248,164 (226,802)* units worldwide. In
March alone, Audi handed over more than 100,000 vehicles to customers
worldwide – an all-time high. A few days ago, Audi published the quarterly
report on its revenue and profit for the first time. Compared to the same quarter
of last year, the sales revenue of the Audi Group increased by 13.4 percent to
EUR 8,679 (7,654) million.
Besides the encouraging development in the core model lineup, the Audi Q7 and
the TT models also played a key role. With EUR 401 (350) million, the
company increased its operating profit by 14.6 percent year on year.
In April, the brand with the four rings boosted its worldwide sales by
9.2 percent to 84,736 (77,624) units. The company thus sold 332,900 (304,426)
vehicles worldwide in the first four months of the year, up 9.4 percent
compared to one year ago.
Audi enjoyed strong growth on European export markets, with an increase of
11.9 percent to 39,457 units in April and 13.5 percent to 165,221 vehicles in the
first four months. Increasing sales in growth markets like Russia and India
confirm Audi's strategy of realising potential in these new markets. In Russia,
sales grew by 76.6 percent (4,409 units) in the first four months of the year.
During the same time, India posted growth of 75.6 percent (145 units). In order
to realise the growth potential in India, Audi will open seven new dealerships in
the course of this year and will begin local assembly in the autumn.
In its second home market, China (including Hong Kong), Audi achieved
growth of 23.7 percent in the first four months equaling 32,961 vehicles.
Looking at the US market, unit sales during the same period went up by
15.2 percent (29,134 vehicles).
Ralph Weyler, Member of the AUDI AG Board of Management for Marketing
and Sales, put it this way at the Annual General Meeting: "The 2006 financial
year and the first quarter of 2007 show that we are on the right track. We will
deliver 1.5 million vehicles to customers worldwide by the year 2015."
In order to attain these ambitious goals, Audi will continue its product drive in
2007 systematically. The all new TT Roadster has been in showrooms since
March. The hand-crafted Audi R8 sports car was launched in April. "Demand
has already exceeded our expectations," Stadler said. At the Geneva Motor
Show, Audi celebrated the world premiere of the new A5 and S5 models. These
cars will be launched at the end of June.
The brand with the four rings recently enlarged the range of its best-selling A3
and A4 models with particularly efficient version. The Audi 1.9 TDI e has
fuel consumption of just 4.5 litres per 100 km and emits a mere 119 g/km CO2.
Audi also offers this engine in the Audi A4 with fuel consumption of 5.3 litres
per 100 km.
Sustainable mobility is the goal of AUDI AG. "Under the motto 'Progressive
Performance', which was also used in this year's Annual Report, we are going
to implement various measures to achieve further significant reductions in fuel
consumption. In addition we will continue to push the development of
alternative fuels and drive systems," Stadler said. In order to meet the increased
need for engineers in development teams for clean diesel engines and hybrid
drive systems, Audi will hire 450 graduates this year. That is 100 more than
originally planned for 2007. 70 percent of the new recruits will work in
Technical Development.
In Germany alone, Audi provides 45,000 secure jobs. "Due to the excellent
performance of our motivated employees, AUDI AG enjoy tremendous success
today," Stadler stated at today's Annual General Meeting. For the second time,
directly related to the company's operating profit of the previous year. This
month, the company will pay EUR 81.5 (21.7) million in bonuses to employees.
That is almost four times as much as last year. Together with the profit-sharing
bonus paid annually in July for many years, employees will each receive an
average performance-related bonus of EUR 3,700 this year.
Audi will maintain a high level of employment. The agreement "Audi's Future -
Performance, Success, Participation" signed by the General Works Council and
the company management explicitly rules out layoffs until 2011.
With its recent decisions regarding production of the R8, A5 and Q5 models,
AUDI AG has shown once more how it beliefs in Germany as an important
production location. "At heart, we are a German company, although we think
and act on a global stage," Stadler announced.
Of course whenever a new model is launched, all factories being considered
have to demonstrate that they can provide the production facilities necessary,
particularly with regards to competitivness." By taking full management
responsibility for the factory in Brussles, Audi has made sure that the additional
production capacity it needs to continue its growth has been secured with
competitive conditions. The plant will be formally admitted to the Audi family
at a ceremony in Brussels on May 30th. "Brussels will then be part of our
success story," Stadler mentioned. The company will produce a new model there
- a compact, small, and sporty Audi.
2006: record year for sales, revenue and profit
Audi recorded excellent figures in the 2006 financial year. For the eleventh year
in a row, the Audi brand surpassed its record sales of the year before. In 2006,
905,188 vehicles (up 9.2 percent) were delivered to customers worldwide. The
sales revenue of the Audi Group increased by 17.1 percent to a new record of
EUR 31.1 billion. This growth rate is significantly higher than that for deliveries
to customers. Profit before tax rose by 48.5 percent to the best mark ever in the
company's history: EUR 1,946 million. With an operating profit of EUR 2,015
million, AUDI AG recorded even greater growth of 43.2 percent. The strength
of the 2006 financial year is also reflected in the improved rate of return before
return envisaged for 2008 has thus been achieved significantly earlier than
planned before. And with a return on investment of 14.2 percent in 2006, we
have already surpassed our envisaged ROI of 10 percent," Stadler commented.
* prior-year figures in brackets