Audi Defies the Corona Crisis With a Robust Performance in the 2020 Financial Year

source: Audi AG

  • CEO Markus Duesmann: “A successful conclusion to the financial year 2020 thanks to a strong team performance”
  • In a challenging market environment: sales revenue approx. €50.0 billion
  • Operating profit before special items falls to €2.7 billion; operating return on sales before special items is 5.5 percent
  • Audi Transformation Plan (ATP) and Audi.Zukunft make important contributions
  • High level of net cash flow at €4.6 billion
  • Continuing clear focus on electromobility: in 2021, for the first time, more than half of the newly introduced models will be electrified
  • CFO Arno Antlitz: “Audi is strongly positioned and retains the scope for continued investment in future-related areas.”

Even in 2020, a challenging business year, Audi vigorously drove ahead its transformation into a provider of sustainable and networked premium mobility. As a result of the pandemic, deliveries and sales revenue fell significantly in the first half-year. Thanks to a strong second half, including an excellent fourth quarter, sales revenue reached a total of approximately €50.0 billion in the 2020 business year. Operating profit before special items was €2.7 billion, and operating return on sales before special items was 5.5 percent. In addition to synergies in the Volkswagen Group, the Audi Transformation Plan (ATP) and Audi.Zukunft made important financial contributions. Net cash flow remains a strength of the company, with a figure of €4.6 billion. The reasons for this are continuing cost and investment discipline and the divestment of shareholdings within the Volkswagen Group amounting to some €1.5 billion. The company moved purposefully ahead with its e-roadmap: in 2021 alone, Audi doubled the number of all-electric models in its range and is also reinforcing its PHEV offensive. Subject to developments in the corona pandemic and the supply of semiconductors, Audi views 2021 with cautious optimism.