Audi 2015 operating profit hit by the emissions scandal image

VW’s Audi division had to cope with the effects of the diesel scandal, thus its operating profit dropped by around 6 percent last year.

Audi has announced its 2015 financial results and the impact of Volkswagen’s cheating scandal left some marks in the brand’s earnings. Even if Audi achieved record unit sales last year of 1,803,246 cars delivered worldwide – a 3.6 percent growth compared with 2014 -, operating profit dropped to 4.836 billion euros (5.2 billion dollars) in 2015 from 5.15 billion euros a year earlier. Compared with 2014, revenue grew by 8.6 percent to 58.42 billion euros form 53.79 billion in 2014. Audi extra outgoings were mainly related to the diesel issue with the six cylinder TDI engines. They include financial expenses for technical measures, legal risks and sales activities, the brand said in a statement. “We regret what happened. We will ensure full transparency and assure you that we will put things right,” CEO Stadler said.

The costs of the scandal so far amounted to 228 million euros, Chief Financial Officer Axel Strotbek said in the text of a speech for a press conference, while the cost of repairing vehicles in the US would be in the “mid-double-digit” million-euro range, Stadler revealed. The results were also hit by high expenditure for the expansion of the international production structure and for new models and technologies, the company said. Audi also announced it would invest in 2016 alone more than 3 billion euros for “the mobility of tomorrow, and we will push forward with the electrification and digitization of our products.”