Volkswagen AG’s premium Audi brand said Thursday that its operating profits soared 60 per cent to 5.3bn euros in 2011 – its best ever figure in more than 100 years.
Sales revenues reached 44.1bn euros (£36.9bn) – representing an increase of 24.4 per cent over 2010 – while operating profit margin increased to 12.1 percent—a new record.
“The Audi Group once again set records for deliveries, revenue and key earnings data in 2011,” boasted management board chief Rupert Stadler.
Audi’s earnings underscored its status as the number-two in luxury car sales after passing Daimler AG (DAI)’s Mercedes-Benz in deliveries last year.
The Company’s financial success pays off for Audi employees as well. The Audi profit sharing agreement yields an average of €8,251 for each employee in Germany.
Assuming that there are no major changes in the underlying economic situation, the Company plans to generate an operating profit for 2012 in line with the level attained in the record-breaking year 2011. In particular, the attractive, young product range will have a positive impact on earnings performance here.
The Ingolstadt-based carmaker said it now wants to meet its 2015 target of selling 1.5 million vehicles in 2014 at the latest.
Volkswagen rose as much as 2.40 euros, or 1.7 percent, to 142.75 euros and was up 1.5 percent as of 12:21 p.m. in Frankfurt trading.