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Financial year 2019: AUDI AG achieves its financial targets and sets a course for long-term competitiveness
- CEO Bram Schot: “Exceptional situation due to corona: we are focusing on protecting our employees, contractors and guests and making the right business decisions in this volatile environment.”
- In a difficult environment, Audi achieves its financial targets for 2019
- Operating profit of €4.5 billion; 8.1 percent operating return on sales is within forecast corridor for 2019
- Net cash flow slightly above forecast target at €3.2 billion
- CEO Bram Schot: “We have held our own against the competition with a stable return development”
- Increased focus on earnings quality
- Audi Transformation Plan (ATP) is delivering: accumulated €4.4 billion already achieved of overall €15 billion target by 2022
- CFO Dr. Arno Antlitz: “In order to achieve our ambitious return targets, we are consistently utilizing efficiency potential, tightening our cost discipline, and creating scope for future growth through targeted investments”
- Numerous presentations and launches of electric models in 2020
- CFO Dr. Arno Antlitz: “Our current focus is on the health of our employees and their families worldwide. Our task is to protect the company’s liquidity and stability and to stabilize core processes.”
Audi steered a steady course through a challenging 2019 financial year. The car manufacturer systematically reduced its WLTP inventories and achieved slightly higher deliveries for the Audi brand than in the previous year in a highly competitive environment. Revenue of €55.7 billion reflects the high demand for SUVs and top-end models. Operating profit and operating return on sales reached €4.5 billion and 8.1 percent. The Audi Transformation Plan (ATP) contributed €2.5 billion in the 2019 financial year. Significantly strengthened spending and investment discipline are reflected by the improved return on investment (12.7 percent). Audi is pushing ahead with its electrification initiative with numerous electric models this year. The company is intensifying the synergies with the Volkswagen Group now also in software development. Against the backdrop of the spread of the coronavirus and the unclear effects on the economy, the manufacturer sees major challenges in the year 2020 and is focusing on the health of employees worldwide and on the liquidity and stability of the business.