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AUDI AG: first quarter of 2019 still affected by adverse factors
- Audi Group: revenue of €13.8 billion; operating profit of €1.1 billion; operating return on sales of 8.0 percent
- Key financials reflect deconsolidation of multi-brand import companies
- CFO Alexander Seitz: “We are some distance away from our own targets and aim to make considerable progress with our cost structures”
As expected, the Audi Group has embarked upon a very challenging financial year 2019. First-quarter revenue and operating profit decreased compared with the high levels of the previous year. At 8.0 percent, the operating return on sales was within the range of 7 to 8.5 percent that had been forecast for 2019, but was below the long-term target corridor of 9 to 11 percent. Adverse factors in the current financial year are primarily due to the repercussions of the WLTP changeover, the transition to new generations of numerous models and the difficult economic environment. In 2019, Audi is entering the era of electric mobility and will continue to make high advance expenditure in future-oriented fields in the coming years. With its strategic realignment, the Audi Group therefore aims to achieve sustained growth in productivity and profitability.