Audi AG announced that 2010 was the best year for sales in its history, with deliveries worldwide increasing by 15 percent to 1,092,411. Rupert Stadler, Audi’s Chairman of the Board of Management, said the operating profit of EUR3.34 billion indicates how profitable Audi is. He added that the company is not only growing in China, but in many regions worldwide.
Stadler said Audi is targeting more than 1.2 million deliveries to customers for the total year of 2011. During the 2010 fiscal year, revenue surged by a disproportionately high rate to EUR35,441 million (EUR29,840 million in 2009), which is an increase of 18.8 percent. Audi increased its operating profit by 108.2 percent to EUR3,340 million (EUR1,604 million in 2009).
At EUR3,634 million (EUR1,928 million in 2009), the profit before tax was 88.5 percent above that of the previous year. After tax, profit rose by 95.2 percent to EUR2,630 million (EUR1,347 million in 2009).
Audi increased its operating return on sales to 9.4 percent (5.4 percent in 2009) and return on investment also reached a new peak, at 24.7 percent (11.5 percent in 2009). Net liquidity surged by 25.5 percent to EUR13,383 million (EUR10,665 million in 2009).
Audi’s outstanding performance was mainly due to many new product launches in the past year: the new models range from the flagship A8 to the A7 Sportback and the Audi A1, which is the first Audi premium car in the subcompact segment. Axel Strotbek, a Board Member for Finance and Organization at Audi, said that the new record levels for all key financial indicators highlight the competitiveness of the Audi brand.
According to Stadler, the prospects of Audi for 2011 are good, especially that its results for whole year 2010 were better than they expected at the start of the year. Stadler added that Audi expects continued growth in overall economy in 2011, although there might be a slight decrease compared to 2010. He quipped that Audi needs to remain alert, no thanks to the risks presented by the unpredictability of the financial and raw materials markets.
For 2011, Audi was able to begin the year in a successful manner, after selling 21.6 percent more vehicles around the world in the January-February period to 186,850 units. It is also experiencing strong momentum in Europe, where sales soared by 17.5 percent to around 106,600 units from 90,686. In Germany alone, the premium carmaker posted 18.3 percent more deliveries in January-February 2011 (32,290 cars) than in the same two-month period a year prior (27,304).
In China, the German premium carmaker posted a 28.9-percent jump in deliveries in January and February 2011 to 41,122 vehicles, compared to 31,906 units sold in the same months in 2010. Audi also logged a 22.3 percent leap in deliveries in the United States to 15,565 vehicles, compared to 12,726 units delivered in the year prior.
Stadler said that Audi is aiming to deliver over 1.2 million premium vehicles around the world in 2011, building on the success and momentum in 2010 without interruption. He added that Audi is targeting an operating return on sales in 2011 at the same high level as in 2010.