Audi Group generates first-half operating profit of €2.9 billion

Ingolstadt, July 31, 2012: Despite weaker economic growth and contraction of many car markets, particularly in Europe, the Audi Group has posted €25.0 billion (Rs 170,275 crore) revenue, an operating profit of €2.9 billion (Rs 19,751.9 crore), and an 11.5 percent operating return on sales in the first half of 2012.

Axel Strotbek, member of the Board of Management of Audi AG for Finance and Organization, emphasized: "The high demand in the first half is a testament to the success of our model strategy." The carmaker delivered 733,237 (2011: 652,892) Audis to customers, an increase of 12.3 percent on the first six months of 2011. Demand was especially high for the new Audi Q3 as well as for the Q5, A6, A7 and A8 models.

The increase in deliveries pushed revenue up to €25,022 (21,526) million – a rise of 16.2 percent on the previous year. The Audi Group increased its operating profit by 13.2 percent to €2,876 (2,540) million. This was despite the stronger recessionary tendencies above all in southern EU countries. The operating return on sales of 11.5 (11.8) percent was thus kept at the high level of recent quarters.

Following the healthy first-half business performance, the Audi Group plans to deliver a total of more than 1.4 million cars of the Audi brand in 2012 as a whole. The company says the Audi A1 Sportback, the Q3 and the new A3, which appears on the market at the end of August, will help Audi towards this goal and secure growing market shares in many sales markets.

The publication of the Interim Financial Report prompted CFO Strotbek to confirm another annual target of the Audi Group: "Provided the economic framework does not deteriorate further, we expect operating profit to remain on a par with 2011 despite higher expenses for new products, technologies and expanded production structures."