Audi Posts Operating Profit of 348M Euro in Q3

Audi is one of the companies that performed pretty well in the current difficult market conditions and posted an operating profit of 348 million euro in the third quarter of the current fiscal year. The figures are obviously below those of the previous year when the German brand registered an operating profit of 760 million euro.

As for the first three quarters of the current fiscal year, Volkswagen Group's brand posted an operating return of 5.4 percent, down from 8.0 percent in 2008 but still enough to keep the company on the floating line.

“The figure was diminished not just by the general economic situation but also by expenditure necessitated by product launches such as the A8 and A1, as well as by the three-week summer production break in August,” said Axel Strotbek, Board Member for Finance and Organization at Audi AG.

Audi also confirmed that, thanks to these positive figures, the company will continue investments in operations across the world, starting with a 920 million euro plan for Ingolstadt and ending with 970 million euro that will be spent for the Neckarsulm facility.

Strotbek said in a statement that expectations are still high at Audi and similar results are likely to be posted in the fourth quarter of the year as well.

“This demonstrates how prudently Audi is steering a course through the crisis,” he said. “We expect our profitability to be even better than in the third quarter. These successes mean we can continue to cover all investment in new technologies such as electric mobility and more efficient models from our operating cash flow from operations."