Audi CFO sees H2 growth in sales, opg profit yr-on-yr

Tag : Raw Materials
Audi AG chief operatingofficer Axel Strotbek said he is confident that sales and operatingprofit in the second half of the year will grow compared with thesame period last year.
Speaking at a conference call, he said Audi will continue itsstrategy in the second-half of 2008 and therefore is 'confident ingrowth of sales and operating profit' compared with 2007.
Asked whether Audi will increase car prices and pass on tocustomers the costs of higher raw materials and negative impacts ofcurrencies, he said 'these negative impacts will be, in one way oranother, offset by possible price increases'.
He said Audi 'might think of' price increases 'if this tendency' onhigher raw materials prices continues.
Audi said earlier on today that revenues in the second-half of thisyear will be burdened by unfavourable foreign exchange effects.
It said too that it expects a further improvement of key resultsthis year compared with 2007.
Audi's first-half operating profit was at 1.3 billion euros from1.0 billion the year before while revenues were flat at 17.387billion from 17.378 billion.