Ladies and Gentlemen,
I also would like to acquire all of we to a Annual Press Conference.
The certain enlargement of a Audi Group is reflected not usually by a enlargement of a workforce, as we have usually seen in a film; a past financial year was a good success also in financial terms. In 2012, we once again posted record levels of income and handling profit, notwithstanding severe mercantile conditions.
The enlargement of a universe economy slowed down extremely final year, with enlargement of 2.6 percent. Above all in a second half of a year, a mercantile meridian worsened significantly in scarcely all regions of a world.
There were pointy differences between developments in a sole regions: While mercantile developments in many industrialized countries were indolent or even negative, many rising countries once again enjoyed an above-average development. The altogether enlargement in Western Europe was recessive and mercantile outlay contracted, essentially due to a ongoing sovereign-debt predicament and a associated budgetary consolidation, by 0.2 percent compared with a before year. The countries of southern Europe in sole posted disastrous growth, though some of a economies of EU member states in northern Europe also contracted. The German economy was for a prolonged time a motorist of enlargement in Europe; however, due to a coherence on trade markets it was increasingly influenced by a mercantile downward bent in Europe as a year 2012 progressed. But private output profited generally from a clever labor marketplace and valid to be a stabilizing factor.
As a result, sum domestic product grew by 0.9 percent – a significantly reduce rate than a 3.1 percent accessible in 2011. The shred of Central and Eastern Europe also grown reduction boldly than in a before year. For example, Russia’s mercantile outlay augmenting by 3.4 percent. The region’s many critical economy had stretched by 4.3 percent in a before year. The United States achieved assuage mercantile enlargement of 2.2 percent in 2012, notwithstanding a formidable conditions in a labor marketplace and calm domestic demand. The stretched financial routine of a US executive bank valid to be an critical enlargement driver.
On a other hand, a Asian rising markets were once again among a pivotal drivers of a universe economy, nonetheless their enlargement rates were reduce than in before years. For example, China’s sum domestic product augmenting by 7.8 percent. Although this was above a supervision aim of 7.5 percent, it was next a high spin of a before years.
In contrariety to usually assuage enlargement of a universe economy, tellurian direct for automobiles in 2012 augmenting by 7.2 percent to a new record spin of 66.6 million units. But like a economy in general, a design here was disparate, whereby all sales regions solely Western Europe showed marketplace growth. The Asia-Pacific and North America regions indeed posted double-digit enlargement rates. Audi profited to an above-average border from a certain enlargement of a world’s automobile markets. We grown softened than a marketplace in ubiquitous in all of a sales markets! Some of a automobile markets in Western Europe slumped dramatically. But interjection above all to a appealing reward compress models, a new Q3 for example, we were means roughly to compare a record array of shipments accessible final year, notwithstanding a disastrous altogether marketplace demand. We also profited from a first-time full accessibility of a A6 Avant.
We achieved a many energetic enlargement in a shred of Central and Eastern Europe, where we profited above all from a clever direct for Audi models in Russia. In that market, we sole 44.1 percent some-more Audi vehicles than in a before year, nonetheless a altogether marketplace grew by usually 10.9 percent.
In North America, we continued along a high-quality enlargement path. Altogether, 18.5 percent some-more automobiles with 4 rings were shipped than in 2011. In comparison: The automobile marketplace stretched in a same duration by 12.4 percent.
In a Asia-Pacific sales region, we also augmenting Audi shipments some-more boldly than a altogether marketplace demand. The categorical enlargement motorist here was once again China – a biggest singular marketplace – where we serve extended a marketplace lead in a reward shred with a and of 29.6 percent.
Ladies and Gentlemen,
Let me now explain to we how this enlargement is reflected by a pivotal financial metrics. Before we demeanour during a numbers in some-more detail, we would like to indicate out a change in a financial reporting: With a merger of Ducati, we news on a year 2012 for a initial time with a segments of “Automotive” and “Motorcycles.”
First of all, we would like to start with a categorical equipment of a income matter of a Audi Group. In 2012, we augmenting a income to a new record figure of 48.8 billion euros. The estimable boost of 10.6 percent – or 4.7 billion euros – is generally a outcome of a certain enlargement of territory sales. Among other effects, direct for Audi automobiles in a large-sedan and oppulance segments augmenting due to full accessibility worldwide of a new A6 models and a A7 Sportback in China. We also profited from a ongoing good recognition of a oppulance indication series, a A8.
In a reward compress segment, we gained additional procedure above all from a new models. The new Q3 for instance was obliged for poignant sales procedure final year. And with a new Audi A3, we will serve urge a clever rival position in this shred in a future.
Our new “Motorcycles” shred generated income of some-more than 200 million euros given a merger of a Ducati Group in Jul 2012 – in a seasonally weaker half of a year; in a full year, a Ducati code posted income of approximately 600 million euros.
Due to a demand-related enlargement of a prolongation volume, cost of sales augmenting to approximately 39 billion euros. With an boost of 8.5 percent, cost of sales once again augmenting during a reduce rate than revenue.
The Audi Group therefore augmenting a sum distinction in 2012 by some-more than 1.6 billion euros – or 20.1 percent – to 9.7 billion euros. The sum domain augmenting accordingly to 19.9 percent – compared with 18.4 percent in 2011.
Distribution costs of 4.6 billion euros were significantly above a spin of 2011. In serve to a incomparable sales volume, aloft selling costs since of a launch of countless new models and complete foe in some pivotal markets, a boost compared with a before year is also due to a doing of vital marketplace enlargement programs – such as a new Audi City sales format and several measures taken in use and to raise patron appeal.
Primarily due to changes in a combined group, executive losses augmenting to 527 million euros in 2012. Other handling income, net, fell to 775 million euros in a stating period. The diminution compared with a before year is generally a outcome of reduce income from banking hedging sell in propinquity to changes in sell rates.
In sum therefore, we were means to somewhat boost a handling distinction compared with a before year, reaching a new record in a company’s story of 5.4 billion euros. Let me now give we some sum of a pivotal drivers of this enlargement in earnings. we would like to start with a hostile factors, those that had a disastrous impact on earnings: We also were incompetent to shun a aforementioned high energy of competition, generally in China and Western Europe, and a ensuing vigour on prices. But one thing is transparent to us: Our reward business design us to say cost stability. For this reason, we have not participated in shopping marketplace share in a past, and we will not do so in a destiny either. Instead, we have practical a supports accessible to safeguard above all that we secure a vital marketplace positioning.
Let’s spin to investment: We are now creation vast allege output to exercise a desirous enlargement plan and a ensuing enlargement of a worldwide prolongation network. We are now creation vast investments in new plants such as in Győr, Hungary, or in Mexico. We will usually beget revenues there after a arriving start of production.
In addition, we will continue to strengthen a German locations in Ingolstadt and Neckarsulm in sequence to serve raise a company’s innovative energy and competitiveness. At a same time, we have serve clever a efforts for a enlargement and renovation of a product operation and have pushed brazen with a enlargement of innovative expostulate systems.
Now to a drivers of earnings: As in a before year, Audi’s poignant volume enlargement was a biggest certain outcome and so a categorical motorist of earnings. Another cause is that we were means to grasp serve swell in a area of product costs, interjection to poignant capability advances and softened element expenses. Exchange-rate effects also had a certain impact on a enlargement of handling profit.
Financial income amounted to 576 million euros in 2012. One of a categorical disastrous equipment was a interest-related diminution in income from a dimensions of banking hedging transactions. In addition, due to descending genuine seductiveness rates, losses for a compounding of non-current supplies increased. The Audi Group so posted distinction before taxation of approximately 6 billion euros in a year 2012.
The ongoing clever profitability of a Audi Group is also reflected in a enlargement of a pivotal total for return: In 2012, we achieved an handling lapse on sales of 11.0 percent. In other words, we significantly surpassed a vital lapse mezzanine of 8 to 10 percent once again final year, notwithstanding a severe mercantile environment. Our lapse on sales before taxes also reached a glorious spin of 12.2 percent. With a lapse total achieved, a association is once again one of a many successful manufacturers in a worldwide automotive industry.
Ladies and Gentlemen,
Let me now explain a categorical equipment of a money upsurge statement. The money upsurge from handling activities of 6.1 billion euros was roughly during a prior-year level. The money outflow for investing activities for business operations augmenting – but care of changes in investments in companies – from 2.8 billion euros to 3.2 billion euros. The categorical concentration was on a aforementioned investments in new products and innovative expostulate technologies, as good as in a enlargement of a worldwide prolongation plants.
We financed all of a investments in a operational business totally out of a possess resources once again in 2012. At a same time, we generated a net money influx of 2.9 billion euros – but deliberation money outflows for acquisitions of shares in companies. Net liquidity decreased to 13.4 billion euros during a finish of 2012, essentially due to a merger of a Ducati Group and of a 30-percent seductiveness in Volkswagen Group Services.
Ladies and Gentlemen,
The year 2012 mount featured good mercantile hurdles in many markets. In this environment, a Audi Group once again demonstrated a success of a corporate plan with a concentration on sustainability and qualitative growth. We contingency consistently continue along this path! Continuing doubt with courtesy to ongoing mercantile developments and a augmenting energy of foe via a whole automotive attention – so also inspiring a Audi Group – will continue to benefaction good challenges. In this environment, it is essential to actively figure a mutation to choice mobility and expostulate concepts! At a same time, we are usually stability a investment proviso we have instituted as partial of a worldwide enlargement plans, in sole with a construction of new plants, notwithstanding a flourishing mercantile insecurity.
For a year 2013, a aim for a Automobile shred is to grasp an handling lapse on sales during a tip finish of a vital aim mezzanine of 8 to 10 percent. In this context, a enlargement of gain should continue to distinction from a capability and routine improvements instituted in a past. An handling lapse on sales of between 8 and 10 percent is designed also for a Motorcycles segment.
As in before years, a Annual news is accessible as a printed chronicle in a languages German, English and Chinese. In serve to a imitation version, a Multimedia Annual Report offers additional sparkling calm such as video or audio contributions relating to a repository section. A special underline this year: With a chronicle of a Multi Media Interface (MMI) blending for a iPad®, we navigate faster, some-more simply and some-more conveniently by comparison highlights of a app: Intuitively control of a far-reaching operation of functions – usually like a strange in your Audi! Thank we for your attention!