Audi Group Closes Strong First Quarter

source: Audi AG

  • CFO Rittersberger: “Premium brand group decisively responding to current challenges.”
  • Record first-quarter operating profit and operating return on sales of 24.3 percent also thanks to support from raw material hedging transactions
  • Lamborghini, Bentley, and Ducati post strong operating performance
  • Deliveries of all-electric models increase by 66.2 percent

Despite the quarter being marked by ongoing bottlenecks in semiconductor supply, war in Ukraine, and renewed lockdowns in China, the Audi Group is still reporting strong financial figures after the first three months of the year. As a result, the company has further strengthened its financial basis for its transformation towards e-mobility and digitalization. For the first time, the Bentley brand is also consolidated within the Audi Group. Revenues increased by two percent. The group generated the highest operating profit ever in a first quarter – driven by a strong price position, a disciplined approach to fixed costs, and support from the valuation of raw material hedges, operating profit for the first three months of the year grew to 3.5 billion euros. Despite geopolitical uncertainties arising from the ongoing war in Ukraine and the tense supply situation, the Audi Group is still confirming the forecast for fiscal year 2022 announced in its annual report, and expects to deliver between 1.8 and 1.9 million vehicles across the group’s different brands and to achieve an operating margin of 9 to 11 percent.