Audi Group nine months revenue up 20%
Company set to expand Gyor site
The Audi Group has reported a revenue of €26bn in the first nine months of the fiscal 2010, an increase of 19.9%, compared to €21.7bn for the same period in 2009.
Audi Group posted an operating profit of €2.3bn, an increase of 93.8% over the same period.
Deliveries to customers of Audi-brand vehicles increased 14.7% to 274,421 (239,172) cars. Revenue growth of 17.7% outstripped growth in vehicle sales, reaching €8.4bn.
The Audi brand expects to deliver around 1,080,000 vehicles to customers in 2010.
Audi Group aims to sell 1.5 million cars worldwide in 2015 and over the next three years the company is investing €900m in expanding the Gyor site into a full-scale automobile plant.
From 2013 on, 125,000 cars per year will be leaving the Gyor production line, with a new A3 derivative model joining the TT, TT Roadster and A3 Cabriolet.
Audi CFO Axel Strotbek said, the record profit reflects the worldwide appeal of their brand and confirms their sustainable and profitable growth path.
"The number of orders we have received worldwide far exceeds our expectations and our production plants will be operating at close to capacity until into 2011," Strotbek said.
"On the basis of the order situation, we anticipate a strong fourth quarter and an exceptional result for the year as a whole.
"As well as continuing strong growth in China, we stand to benefit from the sharp rise in demand in the US."
More from New Statesman
- Online writers:
- Steven Baxter
- Rowenna Davis
- David Allen Green
- Mehdi Hasan
- Nelson Jones
- Gavin Kelly
- Helen Lewis
- Laurie Penny
- The V Spot
- Alex Hern
- Martha Gill
- Alan White
- Samira Shackle
- Alex Andreou
- Nicky Woolf in America
- Bim Adewunmi
- Kate Mossman on pop
- Ryan Gilbey on Film
- Martin Robbins
- Rafael Behr
- Eleanor Margolis