{"id":3519,"date":"2024-03-22T08:04:26","date_gmt":"2024-03-22T06:04:26","guid":{"rendered":"https:\/\/news.audimiddleeast.com\/en\/story-of-progress-maya-copy\/"},"modified":"2024-06-12T08:41:35","modified_gmt":"2024-06-12T06:41:35","slug":"audi-group-results-2023","status":"publish","type":"post","link":"https:\/\/news.audimiddleeast.com\/en\/audi-group-results-2023\/","title":{"rendered":"After a solid fiscal year 2023: Audi strengthens"},"content":{"rendered":"[vc_row][vc_column]\r\n<div class=\"sh-text-with-frame\" id=\"text-with-frame-9ipQyLSFN6\">\r\n\t<div class=\"sh-text-with-frame-container\">\r\n\t\t\r\n<h2 class=\"000H1\"><span lang=\"DE\">After a solid fiscal year 2023: Audi strengthens and expands its product portfolio<\/span><\/h2>\r\n\t<\/div>\r\n<\/div>\r\n            <style type=\"text\/css\">\r\n                #text-with-frame-9ipQyLSFN6 .sh-text-with-frame-container {border-color: rgba(255,255,255,0.07);}#text-with-frame-9ipQyLSFN6 .sh-text-with-frame-container p {}            <\/style>\r\n        [vc_column_text el_class=\"article-copy\"]\r\n<ul>\r\n \t<li>CEO Gernot D\u00f6llner: \u201cWe are positioning ourselves for the future economically, technologically, and strategically. The Q6 e-tron* is the next technological leap in electric mobility from Audi.\u201d<\/li>\r\n \t<li>CFO J\u00fcrgen Rittersberger: \u201cAudi has the financial strength to succeed even in times of technological change and more intense competition.\u201d<\/li>\r\n \t<li>Revenue increases to \u20ac69.9 billion, operating profit to \u20ac6.3 billion, net cash flow nearly on par with previous year at \u20ac4.7 billion<\/li>\r\n<\/ul>\r\n[\/vc_column_text]\r\n<div id=\"divider-bYOmIwt5df\" class=\"sh-divider sh-divider- sh-divider-content-none\">\r\n\t\t\t<div class=\"sh-divider-line\"><\/div>\r\n\t<\/div>\r\n            <style type=\"text\/css\">\r\n                #divider-bYOmIwt5df {}#divider-bYOmIwt5df.sh-divider-content-none .sh-divider-line {border-top-width: 1px;border-top-color: #c4c4c4;border-top-style: solid;}            <\/style>\r\n        [vc_row_inner rtl_reverse=\"yes\" overflow=\"default\" css=\".vc_custom_1681131564779{border-bottom-width: 0px !important;}\"][vc_column_inner el_class=\"btn-grid\" overflow=\"default\"][vc_btn title=\"Download Article\" style=\"custom\" custom_background=\"#f50537\" custom_text=\"#ffffff\" shape=\"square\" size=\"lg\" i_icon_fontawesome=\"far fa-arrow-alt-circle-down\" add_icon=\"true\" link=\"url:https%3A%2F%2Fnews.audimiddleeast.com%2Fwp-content%2Fuploads%2F2020%2F10%2Faudi-group-results-2023-press-release.zip|title:audi-group-results-2023-press-release|target:_blank\" css=\".vc_custom_1711087712351{margin-right: 0px !important;background-color: #f50537 !important;}\" el_class=\"no-grad\"][vc_btn title=\"Download Photos\" style=\"custom\" custom_background=\"#f50537\" custom_text=\"#ffffff\" shape=\"square\" size=\"lg\" i_icon_fontawesome=\"far fa-arrow-alt-circle-down\" add_icon=\"true\" link=\"url:https%3A%2F%2Fnews.audimiddleeast.com%2Fwp-content%2Fuploads%2F2020%2F10%2Faudi-group-results-2023-imagery.zip|title:audi-group-results-2023-imagery|target:_blank\" css=\".vc_custom_1711087695480{margin-right: 0px !important;background-color: #f50537 !important;}\" el_class=\"no-grad\"][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row][vc_column][vc_single_image image=\"3513\" img_size=\"full\" alignment=\"center\"][vc_column_text el_class=\"article-copy\"]<strong>Dubai, United Arab Emirates (21 Mar 2024): The Audi Group has achieved a solid result in the 2023 fiscal year under challenging economic conditions. Revenue rose by 13.1 percent to \u20ac69.9 billion, the operating profit was \u20ac6.3 billion, and the operating margin was 9.0 percent. Net cash flow was nearly on par with the previous year at \u20ac4.7 billion. With numerous new models, Audi will significantly strengthen and expand its product portfolio in the coming years: The world premiere of the fully electric Audi Q6 e-tron*, the first model on the new Premium Platform Electric (PPE), heralds a series of product launches. More than 20 new models are planned for 2024 and 2025.<\/strong>\r\n\r\n\u201cWe are positioning ourselves for the future economically, technologically, and strategically, and we are putting our new products on the street one by one,\u201d says Gernot D\u00f6llner, CEO of\u00a0AUDI AG. \u201cThe basis is a binding agenda focused on our key areas of activity: financial performance, excellent products, and a flexible and agile corporate structure. In this way, we are accelerating the transformation in a challenging economic environment.\u201d\r\n\r\n<strong>Deliveries: growth in all core regions<\/strong>\r\n\r\nWithin the Audi Group, Audi, Bentley, Lamborghini, and Ducati pool their expertise in the Brand Group Progressive**. In fiscal year 2023, the brand group delivered 1,918,912 (2022: 1,638,638) cars and 58,224 (2022: 61,562) motorbikes to customers. With deliveries of <strong>1,895,240 cars,<\/strong> the Audi brand achieved an increase of 17.4 percent <strong>over the previous year due to high demand and the improved supply situation.<\/strong>\r\n\r\n<strong>Further strong growth in electric vehicles<\/strong>\r\n\r\nIn 2023, the Audi Group again saw very strong growth in deliveries of fully electric vehicles. The Audi brand delivered 178,429 fully electric models, a significant increase of 51 percent. These figures highlight the company\u2019s transformation to a provider of fully networked premium electric mobility.\r\n\r\nIn 2024, Audi is taking the next step toward electric mobility: <strong>The Premium Platform Electric<\/strong> (PPE), developed jointly by Audi and Porsche, will provide the technical basis for upcoming technologically advanced, fully electric vehicles. The PPE accommodates a wide range of models in the mid-size and luxury segments.\r\n\r\nThe new Audi Q6 e-tron* is first in line: It is Audi\u2019s first production model based on the PPE. Representing a new generation of Audi models, the Audi Q6 e-tron* sets new standards in efficiency, range, charging, and design. The E3 1.2 electronic architecture is updatable and upgradable; the operating concept has been completely redesigned. With it, Audi is taking the next steps on the road to the fully connected car. The Audi Q6 e-tron* is also the first fully electric model to be built in Ingolstadt.\r\n\r\n<strong>Revenue increased further<\/strong>\r\n\r\nAudi Group <strong>revenue<\/strong> reached \u20ac69,865 (2022:\u00a061,753) million in fiscal year 2023. The 13.1\u00a0percent increase over the previous year is due in particular to solid sales performance, high demand, and the more stable supply situation. The fully electric Audi\u00a0Q4\u00a0e-tron* and Audi\u00a0Q3, Audi\u00a0Q5, and Audi\u00a0Q7 series made a particularly significant contribution to this growth.\r\n\r\n<strong>Solid operating profit, operating margin within expected corridor<\/strong>\r\n\r\nThe <strong>operating profit<\/strong> of the Audi Group reached \u20ac6,280 (2022:\u00a07,550) million, despite negative effects from raw material hedging transactions. While these had a positive effect of \u20ac0.8\u00a0billion in the previous year, they decreased the operating profit by \u20ac-0.9\u00a0billion in 2023. The <strong>operating margin<\/strong> was within the expected corridor at 9.0\u00a0percent.\r\n\r\nAudi is giving its employees a share in the profits in recognition of their efforts during the challenging year of 2023. For a skilled worker at the German plants, for example, the Audi profit share in 2023 amounts to \u20ac8,840 (2022:\u00a08,510). Profit sharing is based on a formula set forth in the labor agreement that takes the operating profit into account, among other factors.[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_single_image image=\"3514\" img_size=\"full\" alignment=\"center\"][vc_column_text el_class=\"article-copy\"]<strong>Solid financial result, net cash flow remains high<\/strong>\r\n\r\nThe Audi Group\u2019s <strong>financial result<\/strong> was \u20ac1,423 (2022:\u00a01,522) million in 2023. Profit after taxes amounted to \u20ac6,260 (2022: 7,116) million.\r\n\r\nThe Audi Group\u2019s net cash flow was \u20ac4,740 million, on par with the strong performance in the previous year (4,808 million).\r\n\r\n<strong>A look at the 2024 fiscal year<\/strong>\r\n\r\n\u201cSolid finances create the framework for the coming years in which we will continue to advance our transformation\u201d, says Audi Chief Financial Officer J\u00fcrgen Rittersberger. \u201cThat is why we have launched our Performance Program\u00a014. It is an effective program to ensure our profitability. In the long term, we want to achieve an operating margin of 14\u00a0percent for the Brand Group Progressive.\u201d\r\n\r\nVorsprung durch Technik is once again moving to the core of the brand. This underscores the company\u2019s leadership in quality and design.\r\n\r\nOverall, the conditions remain very challenging in 2024. The macroeconomic situation remains difficult. Audi expects the markets to stay highly competitive. At the same time, it is important to offer a flexible portfolio of drive systems. In order to respond to changes in demand, the company is preparing for the future by producing both electric cars and combustion-engine models.\r\n\r\nAssuming slight economic growth and a stable supply chain for parts, the Audi Group expects to generate revenue between \u20ac63\u00a0billion and \u20ac68\u00a0billion in the 2024 fiscal year. The operating margin is expected to be between 8 and 10 percent. In terms of net cash flow, the Audi Group is expecting between \u20ac2.5 and \u20ac3.5\u00a0billion.\r\n\r\n<strong>Selected Audi Group key figures at a glance<\/strong>\r\n<table width=\"100%\">\r\n<tbody>\r\n<tr>\r\n<td><\/td>\r\n<td><strong>2023<\/strong><\/td>\r\n<td><strong>2022<\/strong><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Brand group <strong>deliveries<\/strong><\/td>\r\n<td>1,918,912<\/td>\r\n<td>1,638,638<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Audi brand <strong>deliveries<\/strong><\/td>\r\n<td>1,895,240<\/td>\r\n<td>1,614,231<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong>Revenue<\/strong> in EUR million<\/td>\r\n<td>69,865<\/td>\r\n<td>61,753<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong>Operating profit <\/strong>in EUR million<\/td>\r\n<td>6,280<\/td>\r\n<td>7,550<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong>Operating margin<\/strong> in percent<\/td>\r\n<td>9.0<\/td>\r\n<td>12.2<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong>Net cash flow <\/strong>in EUR million<\/td>\r\n<td>4,740<\/td>\r\n<td>4,808<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong>Financial result<\/strong> in EUR million<\/td>\r\n<td>1,423<\/td>\r\n<td>1,522<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong>Profit after tax<\/strong> in EUR million<\/td>\r\n<td>6,260<\/td>\r\n<td>7,116<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong>EU-taxonomy-aligned revenue<\/strong> in percent<\/td>\r\n<td>16.3<\/td>\r\n<td>13.5<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n&nbsp;\r\n\r\n<strong>Audi Group projections for 2024<\/strong>\r\n<table width=\"599\">\r\n<tbody>\r\n<tr>\r\n<td width=\"372\"><\/td>\r\n<td width=\"227\"><strong>2024<\/strong><\/td>\r\n<\/tr>\r\n<tr>\r\n<td width=\"372\"><strong>Revenue<\/strong> in EUR million<\/td>\r\n<td width=\"227\">63,000\u201368,000<\/td>\r\n<\/tr>\r\n<tr>\r\n<td width=\"372\"><strong>Operating margin<\/strong> in percent<\/td>\r\n<td width=\"227\">8\u201310<\/td>\r\n<\/tr>\r\n<tr>\r\n<td width=\"372\"><strong>Net cash flow <\/strong>in EUR million<\/td>\r\n<td width=\"227\">2,500\u20133,500<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n**The Brand Group Progressive describes the Audi Group with the Audi, Bentley, Lamborghini, and Ducati brands. The terms \u201cAudi Group\u201d, \u201cBrand Group Progressive\u201d, and \u201cbrand group\u201d are used synonymously here.[\/vc_column_text][vc_single_image image=\"3515\" img_size=\"full\" alignment=\"center\"][\/vc_column][\/vc_row][vc_row][vc_column][\/vc_column][\/vc_row][vc_row][vc_column][\/vc_column][\/vc_row]"},"excerpt":{"rendered":"<p>Revenue increases to \u20ac69.9 billion<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[277,378,377,44],"acf":[],"_links":{"self":[{"href":"https:\/\/news.audimiddleeast.com\/en\/wp-json\/wp\/v2\/posts\/3519"}],"collection":[{"href":"https:\/\/news.audimiddleeast.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.audimiddleeast.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.audimiddleeast.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.audimiddleeast.com\/en\/wp-json\/wp\/v2\/comments?post=3519"}],"version-history":[{"count":8,"href":"https:\/\/news.audimiddleeast.com\/en\/wp-json\/wp\/v2\/posts\/3519\/revisions"}],"predecessor-version":[{"id":3529,"href":"https:\/\/news.audimiddleeast.com\/en\/wp-json\/wp\/v2\/posts\/3519\/revisions\/3529"}],"wp:attachment":[{"href":"https:\/\/news.audimiddleeast.com\/en\/wp-json\/wp\/v2\/media?parent=3519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.audimiddleeast.com\/en\/wp-json\/wp\/v2\/categories?post=3519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.audimiddleeast.com\/en\/wp-json\/wp\/v2\/tags?post=3519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}