This corresponds to an increase of more than 15.3% compared with the previous-year period. The Group increased its deliveries, particularly in Europe and the U.S.. Revenue grew by 14.4% to €34.2 billion, with an operating profit of €3.4 billion. At 10%, the operating return on sales was within the target corridor of 9-11%. Audi once again delivered a strong performance with fully electric models: The increase of over 50% to 75,647 vehicle deliveries proves that Audi is on the right track with its systematic electrification strategy.
“Audi has shown a strong financial performance in the first six months and is fully within the target corridor for operating return on sales,” says Audi Chief Financial Officer Jürgen Rittersberger. “Despite major challenges, this is a very good basis for the upcoming model offensive with more than 20 new models, of which more than ten will be fully electric.”
In the first half of 2023, the brand group delivered a total of 919,548 vehicles. This corresponds to a significant increase of 15.3% compared with the previous-year period (797,587 vehicles). The Audi brand recorded a significant increase in deliveries (907,111 vehicles) of almost 16% in the first half of 2023 compared with the first half of 2022, thereby continuing its growth path. Audi achieved its best June ever in terms of customer deliveries, with a total of 182,075 vehicles sold.
The Audi Group’s operating profit for the first half of the year amounted to €3,417 million (H1 2022: €4,933 million). The decrease is mainly due to negative effects from raw material hedging of €1.1 billion compared to the previous year. While these had a positive effect of €0.4 billion in the first half of 2022, these effects decreased the operating profit in the first half of 2023 by €-0.7 billion. Overall, the Audi Group achieved a double-digit operating return on sales of 10% (H1 2022: 16.5%) and is therefore within the target corridor. Excluding raw material hedging effects, the operating return on sales was 12.2%.
The Bentley, Lamborghini, and Ducati brands contributed significantly to the Group’s solid half-year figures.
Bentley delivered a total of 7,096 (H1 2022: 7,398) vehicles, 4.1% down on the previous-year figure. In the first half of the year, Lamborghini delivered 5,341 (H1 2022: 5,090) vehicles, an improvement of 4.9%. Revenue increased due to higher sales volume, higher personalisation and successful edition models significantly by 6.7% to €1,421 million (H1 2022: €1,332 million), while operating profit increased by 7.2% to €456 million (H1 2022: €425 million). Lamborghini improved its operating return on sales to a very strong 32.1% (H1 2022: 31.9%).
The Audi Group’s financial result increased by 16.8% to €880 million (H1 2022: €754 million), partly due to higher income from interest and securities. The Audi Group’s China business contributed €457 (H1 2022: €431 million) to the financial result.
