Ingolstadt

Assessment of the third quarter 2019

The 2019 fiscal year continues to be very challenging for Germany’s premium manufacturers. CFO Alexander Seitz outlines the Audi Group’s third-quarter figures.

10/31/2019 Copy & video: AUDI AG Talking Business Reading Time: 2 min

Talking Business – Key Facts

  • Robust financial figures for the third quarter
  • Audi Group after nine months: EUR 41.3 billion revenue; EUR 3.2 billion operating profit; operating return on sales at 7.8 percent
  • Net cash flow of EUR 3.3 billion once again confirms the high level of self-financing
  • Earnings forecast confirmed amid difficult environment

Firmly on course in uncertain times

Alexander Seitz, Board Member for Finance, China and Legal Affairs

Audi Group after nine months – 2019 compact:

Audi Group after nine months – 2019 compact:

Deliveries of the Audi brand

1,357,102

vehicles

Revenue

41.3

EUR billion

Operating return on sales

7.8 %

Fuel consumption combined*: 11.7–11.5 l/100kmCO₂-emissions combined*: 268–263 g/km

Fuel consumption combined*: 11.7–11.5 l/100kmCO₂-emissions combined*: 268–263 g/km

More details

Further financial highlights

Operating profit

3.2

EUR billion

Net cash flow

3.3

EUR billion

Audi Transformation Plan

1.3

EUR billion

implemented measures with an effect on the operating business

Anticipated development in the key performance indicators of the Audi Group

The forecasts for the key performance indicators for 2019 as a whole, which are explained in detail in the 2018 Annual Report on pages 137 f., fundamentally remain valid – assuming the successful implementation of the next phase of the Audi Transformation Plan. The impact of the deconsolidation of multi-brand sales companies has already been factored in.

  Actual 2018 Basis for the forecast[1] Forecast 2019[2]
Deliveries of cars of the Audi brand to customers[3] 1,812,485  1,812,485 

Adjustment of the forecast:

slightly up on the prior-year level

Revenue in EUR million 59,248  53,617  slight increase
Operating profit/operating return on sales in percent 6.0 6.6 between 7.0 and 8.5 percent and therefore not yet within our strategic target corridor of 9 to 11 percent
Return on investment (ROI) in percent 10.0  10.4 between 11 and 14 percent and therefore above our minimum rate of return of 9 percent
Net cash flow in EUR million 2,141 2,080  between EUR 2.5 and 3.0 billion
Research and development ratio in percent 7.1 7.8 Adjustment of the forecast:
moderately above the strategic target corridor of 6.5 to 7.0 percent (due to intensified development activities)
Ratio of capex in percent 5.9 6.5 Adjustment of the forecast:
slightly below the strategic target corridor of 5.5 to 6.0 percent (with intensified investment discipline)

[1] Calculation of the adjusted figures: The figures reported in the 2018 Consolidated Financial Statements have been adjusted for the respective effects of the multi-brand sales companies (Volkswagen Group Italia S.p.A., Verona (Italy), Audi Volkswagen Korea Ltd., Seoul (South Korea), Audi Volkswagen Middle East FZE, Dubai (United Arab Emirates), and Audi Volkswagen Taiwan Co., Ltd., Taipei).
[2] The forecast for 2019 is based on the adjusted figures.
[3] This includes delivered Audi models built locally by the associated company FAW-Volkswagen Automotive Company, Ltd., Changchun (China).

 

Download Quarterly Report Q3/2019

10/31/2019 | Quarterly Report Q3/2019

19 pages, EN

PDF

8.8 MB

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