MOTORING NEWS - Since the beginning of the year, the Audi Group has delivered more than 950 000 vehicles and increased its revenue to R461-billion.
Operating profit amounts to approximately R41-billion before special items, representing an operating return on sales of 8,8%. Earnings were reduced by special items totaling R3,97-billion.
"Despite challenging conditions, we demonstrated the strength of our business operations in the first half of the year," stated Rupert Stadler, chairperson of the Board of Management of AUDI AG. "We are building on our strong core business and develop new business areas that mega-trends such as digitisation open to us. We are investing in sustainable products and developing answers for the questions of urban mobility."
Renewed growth in deliveries underscores the attractiveness of the Audi brand. From January through June, Audi handed over 953 218 automobiles to new owners (2015: 902 272), 5,6% more than in the first half of last year. The brand achieved growth in Europe, China and the United States, and thus in all core regions. Demand was stimulated in particular by the new generations of the Audi A4 and the top-end SUV, the Q7.
The company is putting its new plant in Mexico into operation in the second half of the year.
The special items include a provision of about R1,9-billion in connection with Takata airbags possibly susceptible to faults. In addition, Audi has increased its provisions for technical actions, legal risks and sales actions by a similar amount in connection with the V6 3.0 TDI issue.
The Audi Group's financial result reflects the volatile development of global interest markets in the form of negative one-time effects. Influenced by this impact, the company achieved profit before taxes of R32,8-billion in the first half of the year.
For the key strategic areas of the future, Audi recruited approximately 600 new employees between January and June. That will increase to about 1 200 new experts by the end of this year.
Audi is also increasing the number of apprenticeships by 10%. This means that for the first time, approximately 800 young people will start their job training in Ingolstadt and Neckarsulm in September.
In the full year, the Audi Group once again plans to deliver more automobiles than in the previous year. Depending on economic conditions and the development of currency exchange rates, the company also anticipates moderate revenue growth.
'We bring you the latest Garden Route, Karoo, Hessequa news'
