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First Half of 2019: 3 Questions to CEO Bram Schot

28 Jul 2019

source: Audi AG

The financial year 2019 proves to be challenging for the Audi Group, as predicted. Audi CEO Bram Schot places the first half of the year and gives an outlook for the full year.

Mr. Schot, how do you rate the first half of 2019? 
Bram Schot: As expected, the start of the 2019 financial year was very demanding. As far as deliveries are concerned, we continue to suffer from the consequences of the WLTP transition, generational changes in numerous models and the challenging macroeconomic environment. At the same time, we made high upfront investments in the mobility of the future and continued our model offensive. Especially popular among our customers are the new SUV models and in China the locally produced models Audi A4 L and Audi Q5 L. 

What are the prospects for the second half of the year? 
Bram Schot: The outlook for the full year 2019 remains broadly stable: We can confirm our earnings forecast despite strong headwinds and expect an operating return on sales of between 7.0 and 8.5 percent. We are optimistic about deliveries in the second half of the year. Meanwhile, a majority of all engine / transmission variants have been homologated and we are still working very hard to convert to the second stage of the WLTP test cycle . Our starting position is significantly better than last year. Because: We have learned from the experience and optimized many things.

And how is it going to continue in the long term? 
Bram Schot:We have a clear vision: the most beautiful form of sustainable mobility. With our new strategy “Consistent Audi” , we are putting it into action and sustainably increasing our corporate value. The financial basis for the strategic restructuring is the Audi Transformation Plan. In the first half of the year, we implemented measures worth more than € 1 billion. This is how we ensure the long-term competitiveness of our company. Because we want to significantly shape the new mobility.

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