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MarketScreener Homepage  >  Equities  >  Xetra  >  AUDI AG    NSU   DE0006757008

AUDI AG

(NSU)
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AUDI : Key Mexican state for German automakers hits brakes on restart

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05/23/2020 | 12:30am EDT
FILE PHOTO: An employee leaves the Volkswagen (VW) plant as the company will temporarily close its factories in Mexico amid growing worries over the spread of the coronavirus disease (COVID-19), in Puebla

The Mexican state of Puebla said on Friday that conditions "do not exist" yet to re-start activities in its automotive industry due to the coronavirus pandemic, putting the brakes on carmakers rebooting their operations there.

German automakers Volkswagen AG and Audi have major plants in the state southeast of Mexico City, but they have idled production due to the pandemic.

In an official decree issued on Friday night, the Puebla state government said its decision, which also applies to the local construction industry, would remain in place until sanitary and safety conditions permitted a restart.

"The worst is still to come, the wave of infections and the health risk is everywhere," Puebla governor Miguel Barbosa said in the decree, after a week in which new coronavirus infections and death tallies hit record daily totals in Mexico.

Barbosa, an ally of President Andres Manuel Lopez Obrador, said he wanted to reopen the state's economy "but not at the cost of the lives of the people of Puebla."

Mexico's government issued guidelines on Monday for restarting operations in carmaking, mining and construction even as the impact of the pandemic intensified.

(Reporting by Anthony Esposito, Writing by Daina Beth Solomon, Editing by Dave Graham)

Stocks mentioned in the article
ChangeLast1st jan.
AUDI AG 0.96% 1050 Delayed Quote.30.00%
VOLKSWAGEN AG 4.83% 148.84 Delayed Quote.-19.63%
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Financials
Sales 2019 55 680 M 62 998 M 62 998 M
Net income 2019 3 850 M 4 356 M 4 356 M
Net cash 2019 17 334 M 19 612 M 19 612 M
P/E ratio 2019 8,94x
Yield 2019 -
Capitalization 44 720 M 50 657 M 50 598 M
EV / Sales 2018 0,29x
EV / Sales 2019 0,31x
Nbr of Employees 90 640
Free-Float 0,36%
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Managers
NameTitle
Markus Duesmann Chairman-Management Board
Herbert Diess Chairman-Supervisory Board
Arno Antlitz Chief Financial Officer
Hans-Joachim Rothenpieler Head-Technical Development
Dirk Große-Loheide Head-Procurement & Information Technology
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