Audi Group Makes Healthy Profit Despite Semi-Conductor Crisis – Forecast for 2021 Adjusted

source: Audi AG

  • After nine months: 1.3 million Audi brand vehicles delivered, revenue €40.4 billion, operating profit of €3.9 billion and operating return on sales of 9.5 percent
  • Net cash flow strong at €7.9 billion
  • Trend in third quarter: shortage of semi-conductors holds back deliveries and financial performance
  • Adjusted forecast reflects Audi’s good price position, strong situation, and cost discipline
  • CFO Jürgen Rittersberger: “Thanks to active counter-measures and a healthy operating performance, we have been able to significantly reduce the financial consequences of the semi-conductor crisis.”

Following record figures in the first half of the year, the third quarter is characterized above all by the crisis in semiconductors. After nine months, the Audi Group, in spite of the challenges, is in a respectable position overall in operating and financial terms. From January to September, the number of deliveries, revenue, operating profit, profit before tax and above all net cash flow are higher than in the previous year, which was affected by the corona pandemic. As expected, however, the ongoing shortage of semi-conductors had an effect on volumes and financial results in the third quarter. Audi has adjusted its forecast for the full year 2021: deliveries of the Audi brand are now expected to be approximately at the previous year’s level and revenue somewhat above the previous year. The guidance for operating profit and net cash flow will be increased.