Audi profit sharing for 2009: an average of €5,300 per employee
- €230 million will be paid out to employees in 2009
- Dr. Werner Widuckel, Member of the Board of Management of AUDI AG for Human Resources: "An attractive employer translates the success of the company into success for its employees"
- Peter Mosch, Chairman of the General Works Council: "The terrific effort of the team during Audi's record year in 2008 has paid off"
AUDI AG's outstanding profitability in 2008 is paying off for the roughly 43,000 wage-scale employees at its German plants in Ingolstadt and Neckarsulm. This year the company is distributing €230 million (€222 million)* to its employees. "An attractive employer translates the success of the company into success for its employees," said Dr. Werner Widuckel, Member of the Board of Management of AUDI AG for Human Resources. "Especially in times like these, the dedicated work of each individual employee contributes to the success of the company and helps secure jobs."
At today's Annual Press Conference, Audi announced the highest profit from operating activities in the history of the company, at €2,772 (€2,705) million. Ten percent of the operating profit over a threshold of €1.2 billion, i.e. €157 million, will be distributed to employees in May of this year for this profit-sharing component alone. This amounts to an average of €3,600 per employee.
The so-called expanded employee profit-sharing program (eMEB) was defined in April 2005 in the "Audi's Future - Performance, Sharing, Success" agreement that was established by the company management and the General Works Council. The eMEB is a voluntary component of compensation that exceeds the collectively agreed salary and is dependent upon the company's profits.
"The terrific effort of the team during Audi's record year in 2008 has paid off," said Peter Mosch, Chairman of the General Works Council of AUDI AG. "The Audi story of success is the story of the success of the employees whose work for the company has in all areas been marked by motivation, dedication and selfconfidence." It is now particularly important that we emerge from this crisis onto the automotive market as a stronger and more competitive company, with new models and a motivated workforce. This will provide long-term security for the jobs at the plants, as well as for the company's success, and therefore for profitsharing as well.
The expanded employee profit-sharing program (eMEB) will be paid out for the fourth time this year in addition to employee profit-sharing (MEB) that has been previously been paid. MEB is composed of the base amount, a bonus scaled according to seniority, and a variable share of profits. In July an average of €1,700 per employee will be paid out.
In doing so, Audi will reward the performance of the employees this year with an average bonus of €5,300 (MEB and eMEB), maintaining the level of the previous year.
Despite the problematic economic situation, Audi is sticking to its plans to invest €2 billion per year in new products alone. At the same time, the carmaker will continue to invest in its employees, with plans to hire 300 new experts in 2009. "By doing this we are specifically strengthening new fields of innovation in the area of Technical Development and in Production," Widuckel said.
"In the area of skilled personnel, we will do more than just maintain the level of 682 traineeships - this year we will in fact enable 40 additional young people to train at Audi," he emphasized. "Audi is holding to its practice of training and continued education for its employees." To be equipped for the challenges of the future, the skills of employees must be continuously developed - from the start of training all the way to retirement.
*) prior-year figure in parentheses
About Audi AG
AUDI AG sold a total of 1,003,469 cars in 2008 and thus achieved its thirteenth consecutive record year. Revenue for fiscal 2008 also reached a new all-time high of €34,2 billion, the Profit before tax climbed to an all-time high of €3,2 billion. Audi produces vehicles in Ingolstadt and Neckarsulm (Germany), Györ (Hungary), Changchun (China) and Brussels (Belgium). Aurangabad in India saw the start of local ckd-production of the Audi A6 at the end of 2007 and of the Audi A4 in early October 2008. The company is active in more than 100 markets worldwide. AUDI AG's wholly owned subsidiaries include the Automobili Lamborghini Holding S.p.A. in Sant'Agata Bolognese (Italy) and quattro GmbH in Neckarsulm. Audi currently employs around 57,000 people worldwide, including 45,000 in Germany. The brand with the four rings invests more than €2 billion each year in order to sustain the company's technological lead embodied in its "Vorsprung durch Technik" slogan. Audi plans to significantly increase the number of models in its portfolio by 2015 to 40. The Audi brand celebrates its 100th birthday in 2009. The company was founded by August Horch in Zwickau on July 16, 1909; he named it Audi after the Latin translation of his surname 'Horch'.