DGAP-Adhoc: AUDI AG announces preliminary Q1 2020 results and withdraws 2020 full-year outlook due to business impacts from covid-19 pandemic
DGAP-Ad-hoc: AUDI AG / Key word(s): Quarterly / Interim Statement/Forecast
The ongoing Covid-19 pandemic has also had a significant impact on Audi Group's business.
As a result, the automobile retail network has largely came to a standstill. The resulting decline in customer demand and supplier bottlenecks led to production stops within the Audi Group. The aforementioned developments have a negative impact on the expected financial results of the Audi Group. Based on preliminary figures, the Audi Group expects for the first quarter of 2020:
The Audi Group is planning the phased restart of production with enhanced safety standards for the workforce. As can be seen from the positive developments in China, economic recovery during the course of the year appears possible. Due to the current developments, the Executive Board of AUDI AG assumes for now that the full year outlook for 2020, which was published with the 2019 Annual Report, can no longer be achieved. It is currently not possible to determine when a new outlook can be made for the full year. The impacts resulting from the pandemic on customer demand, the supply chain and production cannot currently be accurately forecasted. Contact: [email protected]
16-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | AUDI AG |
Auto-Union-Straße 1 | |
85045 Ingolstadt | |
Germany | |
Phone: | +49 (0)841 89-0 |
Fax: | +49 (0)841 89-30900 |
E-mail: | [email protected] |
Internet: | www.audi.de |
ISIN: | DE0006757008 |
WKN: | 675700 |
Listed: | Regulated Market in Berlin, Dusseldorf, Frankfurt (General Standard), Hamburg, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange |
EQS News ID: | 1022937 |
End of Announcement | DGAP News Service |
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1022937 16-Apr-2020 CET/CEST