Audi AG announced today that its net profit for 2006 rose a healthy 63 percent, boosted by record sales. The German company said it earned 1.34 billion euros ($1.77 billion) in 2006 compared with 824 million euros in 2005. It did not provide fourth-quarter figures. A record 905,188 vehicles sold helped the company increase revenue 17 percent to 31.14 billion euros ($41.2 billion). That sent pre-tax profit up 49 percent to 1.95 billion euros ($2.58 billion).
Operating profit increased 43 percent to 2.02 billion euros ($2.67 billion). Chief Executive Rupert Stadler (who took over in January, after his predecessor, Martin Winterkorn, was named CEO of parent company Volkswagen AG) told reporters that "Audi is the fastest growing premium brand in the world, which puts us well on our way to becoming the most successful premium car manufacturer in the world by 2015." Stadler said that Audi aims to sell more than 1 million cars in 2008 and expects sales this year to improve on last year's results with the introduction of its new A5 model in the next quarter.
Paul Shippey - 2 Mar 2007