At today’s AUDI AG Supervisory Board meeting, which took place at the Hungarian production site in Győr, Manfred Döss was unanimously elected as the new Chairman of the AUDI AG Supervisory Board. This means Döss is taking over the position from Herbert Diess, who resigned from the Supervisory Board on August 31, with immediate effect. Peter Mosch will remain Deputy Chairman. Döss will also become a Member and Chairman of the Presiding Committee as well as the Mediation Committee.
Even in 2020, a challenging business year, Audi vigorously drove ahead its transformation into a provider of sustainable and networked premium mobility. As a result of the pandemic, deliveries and sales revenue fell significantly in the first half-year. Thanks to a strong second half, including an excellent fourth quarter, sales revenue reached a total of approximately €50.0 billion in the 2020 business year. Operating profit before special items was €2.7 billion, and operating return on sales before special items was 5.5 percent. In addition to synergies in the Volkswagen Group, the Audi Transformation Plan (ATP) and Audi.Zukunft made important financial contributions. Net cash flow remains a strength of the company, with a figure of €4.6 billion. The reasons for this are continuing cost and investment discipline and the divestment of shareholdings within the Volkswagen Group amounting to some €1.5 billion. The company moved purposefully ahead with its e-roadmap: in 2021 alone, Audi doubled the number of all-electric models in its range and is also reinforcing its PHEV offensive. Subject to developments in the corona pandemic and the supply of semiconductors, Audi views 2021 with cautious optimism.
A more efficient division of labor and increased Group synergies – as part of the reorganization of competencies within the Volkswagen Group, today’s Audi Annual General Meeting will also vote on a so-called squeeze-out under stock corporation law. This will result in the transfer all the Audi shares of the remaining shareholders to Volkswagen AG, which already holds 99.64 percent of the share capital of AUDI AG. The Audi Board of Management would like to thank the shareholders for their trust and loyalty. The planned structure is intended to strengthen Audi’s role within the Volkswagen Group and to increase the future competitiveness of the Volkswagen Group.
The Audi Board of Management has announced that the new date of the 131st Annual General Meeting is July 31, 2020. The originally foreseen date (May 14, 2020) had previously been postponed in connection with the planned transfer of shares from Audi’s minority shareholders to the majority shareholder Volkswagen AG. The agenda includes a resolution on the so-called squeeze-out. Due to the ongoing corona pandemic, the Audi Annual General Meeting will be held as a virtual Annual General Meeting for the protection of shareholders.
Audi is broadcasting the opening speeches at the 127th Annual General Meeting live by satellite and on the Internet. During the meeting of shareholders at the Audi Forum Ingolstadt, the Board of Management of AUDI AG will present the key business figures for 2015 and the company’s business performance in the current year. 127th Annual General Meeting of AUDI AG Thursday, May 12, 2016 10:00 a.m. (CEST) Audi Forum Ingolstadt The event will also be broadcast live via SmartTV. Access is possible via the Audi MediaTV app. By satellite in TV quality: details in the following table On Audi MediaTV: www.audimedia.tv (German and English; embedding on other websites possible) In the Audi MediaCenter: www.audi-mediacenter.com
Volkswagen AG is to strengthen Audi’s role within the Group. With Markus Duesmann as the new CEO, Audi will take the lead for research & development within the brand alliance. In the context of reorganizing competencies and responsibilities, Volkswagen AG plans to carry out a squeeze-out according to German stock corporation law in order to acquire the 0.36 percent of Audi’s shares that are traded on the stock exchange.
Audi steered a steady course through a challenging 2019 financial year. The car manufacturer systematically reduced its WLTP inventories and achieved slightly higher deliveries for the Audi brand than in the previous year in a highly competitive environment. Revenue of €55.7 billion reflects the high demand for SUVs and top-end models. Operating profit and operating return on sales reached €4.5 billion and 8.1 percent. The Audi Transformation Plan (ATP) contributed €2.5 billion in the 2019 financial year. Significantly strengthened spending and investment discipline are reflected by the improved return on investment (12.7 percent). Audi is pushing ahead with its electrification initiative with numerous electric models this year. The company is intensifying the synergies with the Volkswagen Group now also in software development. Against the backdrop of the spread of the coronavirus and the unclear effects on the economy, the manufacturer sees major challenges in the year 2020 and is focusing on the health of employees worldwide and on the liquidity and stability of the business.
Audi will become a provider of holistic CO2-neutral premium mobility, with the aim of assuming a leading role among its competitors. The manufacturer is therefore accelerating its electrification roadmap and company-wide decarbonization. By 2025, the vehicle fleet’s CO2 footprint is to be reduced as a first step by 30 percent over its entire lifecycle compared with 2015. In the future, return on investment as a key financial steering parameter will also reflect the CO2 performance of the Four Rings and is to rise to more than 21 percent through sustainable management. The Board of Management is presenting the realignment at the 130th Annual General Meeting in Neckarsulm and providing information on current business developments. While Audi is mastering a challenging year 2019 with substantial operationally adverse factors, the premium manufacturer is pressing ahead with its transformation and aims for a significant increase in corporate value in the long term. The Four Rings will focus strictly on customer-relevant innovations, will further develop its business model profitably and will realize synergies within the Volkswagen Group and in external partnerships. The guiding principle of the far-reaching transformation is “Consistently Audi.”