3.5.2019. As expected, the Audi group is launched in a very challenging fiscal year 2019. In the first quarter sales and Operating profit decreased compared with the previous year’s high values.
The Operating return on sales of 8.0 percent in 2019 forecast range of 7 to 8.5 percent, but below the long-term target corridor of 9 to 11 percent. Loads the result in the current fiscal year in particular from knock-on effects of the WLTP-Transition, generation of numerous models, and the difficult overall economic environment.
2019, Audi will be competing in the electric age, and also implemented in the coming years, high investments in future fields. With its strategic realignment, the Audi group therefore aims at a sustainable increase of productivity and profitability.
From January to March, the company 447.247 (2018: 463.750) Cars of the Audi brand and, therefore, 3.6 percent fewer than a year earlier handed over. While China reported, in spite of the negative overall market for further growth (+3,3%), were the deliveries in Europe decreased (-5,5%). Here, in particular in the second half of the year 2018, the severely restricted availability of the model program in the Wake of the WLTP conversion had.
Meanwhile, Audi has almost all of the engine-gearbox variants in the Portfolio. In addition, the change of generation coped with Audi 2019 of numerous other high-volume models. So, for example, launched in January, the Market ramp of the new A6 L in China.
The sales revenues of the Audi group amounted in the first three months of the year to €13.812 (2018: 15.320 million) of The decrease compared to the same period last year is substantially due to the January 2019 implemented new reporting structure of the Audi group Due to the previous inclusion of some multi-brand importer companies of the Audi group’s consolidated financial statements contained in the previous years, the revenue from the sales of automobiles of other brands of the Volkswagen group. These are detected since 2019, for the first time at the level of the Volkswagen group.
Positive is the recent in the upper class, launched in Audi models, the Q8 e-tron had an impact on the sales revenues in the first quarter. In the case of Lamborghini this is true for the coveted Super SUV Urus; total sales of the Italian brand has doubled compared to the first quarter of 2018.
For the first quarter of 2019, the Audi group posted an Operating profit in the amount of €1,100 (2018: 1.300) million. Earnings, therefore, were in addition to the lower sales volume and the start-up situation, important models in the context of the continuing product offensive, as well as higher investments in new technologies. The Operating return on sales decreased to 8.0 (in 2018 from 8.5 percent). The revenue-reducing effects from the deconsolidation of the multi-brand import from the had your this positive influence on the rate of Return measure, which mitigated the downturn.
“The Start to the new year has shown that we are currently away from our own claims. We must move quickly to achieve significant progress in our cost structures, so that in 2019, the year of the turnaround for Audi,“ says Alexander Seitz, Board member for Finance, China and the law of AUDI AG. “Just in the process of technological transformation more than ever, to develop Premium products, we need to have a Premium return on investment. Therefore, we will turn our Audi transformation plan into a higher gear.“
In March, the company has started deliveries of the all-electric Audi e-tron in Europe, in April at the Auto Shanghai 2019 Q2 L e-tron, specifically designed for China presented, and wants to celebrate the end of the year with the Audi e-tron Sportback world premiere of its third E-model. Alone from 2019 until the end of 2023, Audi plans to around €14 billion of intermediate consumption in electric mobility, digitisation and highly automated Driving. In, the material capital investment and research and development services. In total, for the five-year planning horizon, planned spending amount to around €40 billion.
To Finance the future price of the manufacturer has increased the beginning of 2019, the goal of the Audi transformation plan and is now aiming for positive effects on Earnings by a total of €15 billion in the period from 2018 to 2022. In a complementary work package of the program, the profitable use of capital of the company is to be optimized. In the context of its realignment, the Audi group is adjusted, among other things, the future, efficient technical platforms, oriented assignment of the works and the appropriate division of tasks and capacity development in the international development and production network.
For the first quarter of the current fiscal year, the Audi group reported a profit before tax in the amount of €1.196 (2018: 1.426) million, the financial result of the fur due to valuation effects of €96 (2018: 127) million.
Even under the difficult conditions of the first quarter, the Four rings achieved a clearly positive net cash flow in the amount of €1,207 thousand (2018: EUR 1,919) – loaded million In comparison to the higher year-on-year value is a negative one-off effect of the cash proceeds in connection with the deconsolidation of the more brands-importers. In addition, in 2018, the participation changes to the map services provider HERE had had a positive impact.
For the full year, 2019, the company forecast unchanged, a moderate increase in deliveries of the Audi brand, and expects in particular for the second half of the year, with impetus for growth. The delivery of the balance sheet is, therefore, the removal of Stockpiling of the sales and trading organization to reflect that in the WLTP-Transition selectively established. According to the Audi group expects to see its revenue a slight increase. The Operating return on sales should be in the transition year 2019 of between 7.0 and 8.5 per cent, of the net cash flow of €2.5 to 3.0 billion.
Audi AI:ME (photo: AUDI AG)
