INGOLSTADT, Germany, March 10, 2015 /PRNewswire/ —
- Audi Group 2014: revenue of over EUR 50 billion, operating profit above EUR 5 billion, operating return on sales of 9.6 percent
- High level of financial strength demonstrated by net cash flow of EUR 3 billion and profit before tax of approximately EUR 6 billion
- Audi CEO Rupert Stadler: "After a very positive start to this year we aim to achieve a new record for unit sales in 2015"
- CFO Axel Strotbek: "Operating return on sales reached the upper end of the strategic target corridor despite high advance expenditure"
With a new record for deliveries of more than 1.74 million automobiles, Audi for the first time increased its revenue to more than EUR 53 billion in 2014. Operating profit amounted to EUR 5.15 billion and the operating return on sales of 9.6 percent was at the upper end of the strategic target corridor of eight to ten percent. After taking increased financial income into consideration, profit before tax increased to approximately EUR 6 billion. The return on sales before tax was 11.1 percent. The brand with the Four Rings will invest more than EUR 24 billion in new products and technologies by 2019, and is continually expanding its global production network. Worldwide, the Audi Group plans to recruit more than 6,000 new employees in 2015. The company intends to deliver more premium cars than in the previous year once again in 2015.
At the Annual Press Conference on Tuesday, Board of Management Chairman Rupert Stadler stated, "We delivered more in 2014 than promised. After a very positive start to this year, we aim to achieve a new record for unit sales in 2015." This year, the company will start the next stage of its model initiative with the new Audi Q7*, the new Audi R8* and the new Audi A4* family.
Audi delivered a convincing performance in 2014 despite a heterogeneous market environment, and increased its unit sales in all regions. The Ingolstadt company set new records for unit sales in a total of 50 countries. Worldwide, it sold 1,741,129 automobiles of the Audi brand to its customers (2013: 1,575,480), representing an increase of 10.5 percent (2013: 8.3 percent). The Audi Group increased its revenue to EUR 53,787 million (2013: EUR 49,880 million): growth of 7.8 percent compared with the previous year.
Despite high advance expenditure for the expansion of international production structures as well as for new models and technologies – in particular to fulfill increasingly strict CO2 regulations around the world – the Audi Group increased its operating profit by 2.4 percent to EUR 5,150 million (2013: EUR 5,030 million).
The Audi Group’s selling expenses increased at a lower rate than revenue: plus 5.5 percent to EUR 4,895 million (2013: EUR 4,641 million), although the company delivered significantly more automobiles to its customers.
Financial income of EUR 841 million was significantly higher than in 2013 (EUR 293 million). It includes Audi’s share of the operating profit of the Chinese joint-venture company FAW-VW Automotive Company, which is consolidated at equity. Overall, the Audi Group increased its profit before tax by 12.5 percent to EUR 5,991 million (2013: EUR 5,323 million). Return on sales before tax improved from 10.7 percent in 2013 to 11.1 percent last year.
Board of Management Member for Finance Axel Strotbek stated: "Our key financials show that we are preparing systematically for the future and nevertheless operating very profitably." Despite high levels of advance expenditure, with 9.6 percent (2013: 10.1 percent) the company achieved an operating return on sales at the upper end of its strategic target corridor of eight to ten percent.
Fuel consumption and CO2 emissions of the models named above:
Combined fuel consumption in l/100 km: 10,7 – 4;
Combined CO2 emissions in g/km: 249 – 104
Combined fuel consumption in l/100 km: 8,3 -5,7;
Combined CO2 emissions in g/km: 193 – 149
Combined fuel consumption in l/100 km: 14,9 -12,4;
Combined CO2 emissions in g/km: 349 – 289