Expand / Audi won last year 4,297 million euros, 2.97% less, with record revenues with 58,420 million euros, 8.6% plus. Operating profit fell by 6%.
Audi achieved last year an operating profit of 4,836 million euros, representing a 6% less than that achieved in 2014. The chairman of Audi AG, Rupert Stadler he said that “the agreement with Volkswagen we have allowed diesel engines concerned have no impact on the profitability of Audi “. This agreement is based on the responsibility of all for engines is Volkswagen AG, the company’s Volkswagen Group supplier of engines to other subsidiaries.
However, Axel Strotbeck, maximum financial officer Audi, explained that the 6.1% fall in operating profit is because Audi has had to make an extraordinary expense of 228 million euros due to the case of diesel engines with souped-up software. Within this amount Strotbeck included financial costs of finding technical solutions for diesel engines affected again meet emission standards. It also includes a provision to possible legal action, in addition to actions in support of the dealer network and to serve customers affected.
In addition, Audi announced a call a few weeks ago to review vehicle They are carrying the defective airbags by the Japanese company Takata, which meant additional disbursement of 70 million euros.
This extraordinary expense of 228 million euros is a very small amount in relation to the provision of 6,700 million euros provisioned last September the Volkswagen group for the scandal diesel engines.
Audi expects to have all cars affected by the diesel arranged in the current year.
Both Stadler and Strotbeck were satisfied with the results, since without these extra costs, “our operating income would been near obtained in 2014″ which was 5,150 million euros, 314 million euros obtained over the last 2015.
However, Audi AG, which includes under its umbrella the Audi, Lamborghini and Ducati brands and is 99.5% owned by the Volkswagen group, despite these extraordinary expenses it maintains an operating margin of 8.2%, thanks to record revenues of 58,420 million euros achieved in 2015. “we are in the middle of our goal to be between 8% and 10% operating margin,” he said Strotbeck.
This record turnover derived from record sales. Audi sold 1.803 million cars worldwide, representing an increase of 3.6% over 2014. In sales, more than diéselgate Audi will detracted economic tensions in China, its main market.
The maximum financial officer of the signing of the rings had an impact on Audi maintains a strong and stable financial position . In fact, the German firm has paid both their extra expenses, such as payment by purchasing the map division of Nokia, Here, bought together with Daimler and BMW by 2,500 million euros, in addition to its own investments march the group, with its own resources. In fact, the strong cash position at the end of 2014 of 18,304 million euros has enabled the funding of all Audi AG extraordinary operations without borrowing more. Yes, the cash flow has become of 16,420 million euros. In addition Strotbeck was satisfied that without extraordinary net cash flow would have been 2,300 million euros, “in line with what we had expected.”
Operating expenses and reduced profit have made the bonus & gt; of Ingolstadt and Neckarsulm workers Audi is less than 6,450 euros in 2014 and will receive under 2015, 5,420 euros.
Growth in 2016 In fact, Audi 2016 expects its operating margin is back between 8% and 10%, a return on investment between 16% and 18% and “will continue to fund all our growth with our own resources and we anticipate net cash flow of between 2,000 and 2,500 million euros “.
Audi plans to invest 3,000 million euros this year in new plants, equipment and launching new models. The first to arrive will be the Q2, an SUV of 4.2 meters in length. Later will come the second generation coupe A5 and range of Audi A4 will be completed.
This year will begin operating the new Audi plant in Mexico where Audi will manufacture the SUV Q5 in already working 2,000 workers , which will involve the relocation of this model and its consolidation in Latin America.
Rupert Stadler also noted that Lamborghini, which just launched the centenary of Hurricane and Ducati edition with new XDiavel, the Multistrada Enduro and Scrambler generate more revenue Sixty2 Audi AG.
for the global car market, Audi is optimistic. It predicts that China will continue to grow but at a rate content. Germany and Western Europe will also grow moderately, while falls come from Latin America; Russia being the main unknown. On a positive note by Audi is that Germany, the leading European locomotive “will continue to grow, with a positive consumer confidence and employment growth”.
Digitization process and electromobility Furthermore, Stadler remarked Audi will create a “digital central platform for mobility”. In fact, part of the 3,000 million euros of investment will be directed to the digitalization of production processes-Audi is one of the automotive companies already using manufacturing and 4.0 with 3D printers based on the Internet of Things-and electrification of the models (Audi will have a 100% electric model in 2018), plus a growing increase in autonomous driving and the connected car.
the Volkswagen case is costing Audi EUR 228 million
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