AUDI AG: Adjustment to the balance sheet risk provisions as of the third quarter 2016
The Board of Management of AUDI AG announces that in the third quarter2016, according to current estimates, additional financial burdens amounting to EUR 620 million in the form of special items arise. These burdens are subject to valuation risks and could lead to an adjustment of the predicted key performance indicators of the Audi Group for the total financial year 2016.
Due to special items posted in the first three quarters for the V6 3.0 TDI engine issues and Takata airbags, we are now assuming that the operating return on sales after special items in the financial year 2016 should be considerably below the target corridor of 8 to 10 percent. For the 2016 interim financial report, the Audi Group was still assuming a figure slightly below the abovementioned target corridor.
Before special items, the Audi Group is still expecting an operating return on sales within the corridor of 8 to 10 percent.