The Audi Group once again set records for deliveries, revenue and key earnings data in the fiscal year 2011. The brand with the four rings sold more than 1.3 million cars in the past year, at the same time increasing revenue to w44.1 billion.
Operating profit for the Audi Group rose to over €5.3 billion in the past fiscal year. The operating return on sales climbed from 9.4 to 12.1 percent.
In addition to the increase in volume, the higher-quality model mix also had a very positive impact on revenue and profit development.
The share of revenue generated by the A6, A7, A8 and Q7 model series, also known as the C- and D-segments, rose from 25 to 38 percent between 2009 and 2011. At the same time, Audi has successfully continued expanding its model range in the lower segments since last year with the A1.
Cost of sales, distribution costs and administration expenses rose at a lower rate than revenue development in the past fiscal year thanks to ongoing process and cost optimizations. In addition to higher revenue quality, the significant increase in operating profit is attributable in particular to overall improvement in cost structures.
As the result of an increase in the financial result to €692 (2010: 293) million, the Audi Group’s profit before tax reached a new record level of over €6.0 (3.6) billion – an increase of 66%.
Return on sales before tax climbed to 13.7 percent following 10.3 percent in the prior year. The Audi Group improved the return on investment – in other words, the return on the average capital invested – to 35.4 (24.7) percent.
Assuming that there are no major changes in the underlying economic situation, the Company plans to generate an operating profit for 2012 in line with the level attained in the record-breaking year 2011.
In particular, the attractive, young product range will have a positive impact on earnings performance here.
The company plans on investing some w13 billion between 2012 and 2016.
For example, Audi is expanding the site in Győr (Hungary) into a full-scale car plant which will build a new member of the A3 family from 2013. Audi is also investing heavily in Germany, planning to spend just under w8 billion at the Ingolstadt and Neckarsulm sites in the coming five years.
The investment program is focusing in particular on new products and technical innovations.
Audi is also expanding its production capacity in China within the framework of the joint venture FAW-Volkswagen Automotive Company, Ltd. In addition to the site in Changchun in northern China, the Company is currently building a new facility in the south of the country.