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Audi, the historically fast-spinning profit dynamo for the autoindustry’s leading Volkswagen Group, in spite of stiff headwinds on the now closely monitored diesel front, performed well over the past year, particularly when considering that its ample Joint-Venture profits from China, whose prestige car market it has long dominated, are currently not included in its declared operating profit
Last year, drawing attention once more to its strategically crucial profit generating qualities for its Volkswagen parent, Audi increased its full year operating profits to €5.06bn.
Before special items, that’s a modest 4.4 per cent advance from the €4.8bn earned during the previous year.
Last year’s sales revenue breached the €60bn barrier for the first time, which also marks a doubling in just eight years
With an operating profit of €5.06bn, following a slim 1.4 per cent rise in last year’s sales revenue to €60.1bn, Audi posted a slightly improved operating margin of 8.4 per cent.
That compares with 8.2 per cent during the whole of 2016.
However, owing to the continuing toxic fallout from the dieselgate crisis, Audi made yet another financial provision.
That’s €387m for this past year, thus trimming its full year operating profits to a €4,671.
That’s the bad news.
The good news is that last year’s marginally reduced operating profits, after a renewed €387m special provision, beats the like-for-like result of the previous year by 53 per cent.
After exceptional expenditure, its operating margin still eased back slightly to 7.8 per cent from the decimated 5.1 per cent reported for the previous year.
But that’s not all...
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