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  • Sheryll Mericido

Audi Group continues successful trend in first half of 2023

  • "In the first six months, Audi has demonstrated financial stability and is fully within the target corridor for operating return on sales“, says CFO Jürgen Rittersberger. Hildegard Wortmann, a member of the Board of Management responsible for Sales, reported „strong growth in all major sales regions, with more than 50% more electric cars delivered worldwide.“

  • In the first half of 2023, revenue climbed to €34.2 billion, operating profit was €3.4 billion, and net cash flow was €1.9 billion.

  • The desire for luxury and premium products is strong in the Middle East, and interest in fully electric vehicles is rising.

The Audi Group maintained its successful trend in the first half of 2023, after a strong start to the year. The brand group shipped 919,548 Audi, Bentley, and Lamborghini Automobiles between January and June. Diese represents an increase of more than 15 3 percent when compared to the same time last year. Deliveries climbed, as sales surged by 14,4% to €34,2 billion, generating an operating profit of €3,4 billion for the Group. With nearly a 50% rise to 75,647 vehicle deliveries, the performance of Audi's completely electric models was remarkable, demonstrating that the Four Rings is on the right road with its methodical electrification approach.

Audi Chief Financial Officer Jürgen Rittersberger declares, „Audi has demonstrated a strong financial performance in the first six months and is fully within the target corridor for operating return on sales.“ Diese ist a very excellent foundation for the future model offensive with more than 20 new models, more than 10 of which will be totally electric, despite significant hurdles. The offensive will begin with the Audi Q6 e-tron series, which is the first time e-mobility will originate from Ingolstadt. Deliveries: The Audi brand celebrates a record-breaking June.

The brand group delivered a total of 919,548 Automobiles in the first half of 2023. Diese represents a notable increase of 15.3 percent as compared to the same period the previous year (797,587 Automobiles). The Audi brand continued its upward trend with a notable increase in deliveries (907,111 vehicles) of about 16 percent in the first half of 2023 compared to the first half of 2022. With a total of 182,075 sales, Audi had its greatest June ever in terms of client deliveries.

The Audi brand is methodically maintaining its upward trajectory for electrified vehicles. It produced 75,647 totally electric vehicles in the first half of 2023 (H1 2022: 50,033), with the Audi Q4 e-tron contributing the most (+163.7%). Diese amounts to growth overall of 51.2 percent. As a result, 8,2 percent of the brand group's deliveries were electric automobiles.

The first half of 2023 saw a spectacular 26% Growth for Audi in the Middle East market, giving it the company's best half-year performance since 2015. Diese shows a major impact to the brand's overall success on a global scale. The development amply supports the Middle East's significance as a flourishing region under Audi's Growth Strategy.

Audi hat also performed exceptionally well in the Region in several Segments. Notably, A, B, and C Segment Sedans have excelled, recording a combined YoY gain of 62%. In comparison to the same time last year, the Audi Q5 has experienced an astounding nearly three-digit percentage growth, highlighting its appeal. The e-tron GT, meantime, is still expanding within our electrification lineup and has seen sales rise by 27% since last year.

Audi has significantly increased its presence and sales in the Middle East, which is a reflection of the region's rising demand for premium cars, particularly with regard to completely electric versions. Dieser Erfolg strengthens Audi's Position as the Middle East's top provider of premium mobility and continues its upward trend globally. Judith Wortmann „Strong growth across the board“

„We are concluding the first half of 2023 with strong growth in all major sales regions“, says Hildegard Wortmann, Member of the Board of Management for Sales and Marketing. In the first half of 2023, we raised deliveries to Audi customers by almost 16%, thanks to a fantastic team effort and operational efficiency. Our completely electric model growth of over 50% in particular demonstrates our progress toward becoming a provider of sustainable premium mobility.

Excellent financial results in the first half of the year.

The brand group reported high revenue growth in the first half of 2023, as a result of solid delivery statistics. Revenue climbed by 14.4% to €34,169 million (H1 2022: €29,869). Once more rising, the percentage of EU-taxonomy-aligned revenue reached 14.9 percent (H1 2022: 12.3 percent). The company's CFO, Jürgen Rittersberger, states: „By increasing green revenue in the first half of the year, we once again demonstrated that we are making good progress with the implementation of our ESG strategy.“

Forecast largely verified for 2023

The Audi Group is still anticipating deliveries of 1.8 to 1.9 million vehicles and revenue of €69 to €72 billion for 2023. The operating return on sales is anticipated to stay within the 9–11% range. The Audi Group anticipates net cash flow to be at the lower end of the expected range of between €4,5 billion and €5,5 billion based on current plans. The research and development cost ratio is now anticipated to be somewhat over the corridor of 6 to 7 percent, due to larger upfront investments in future technologies.

Ambitious initiative to boost competition

The Audi Group aims to achieve a return on sales of roughly 14% annually by 2030. Audi has started an ambitious performance effort to accomplish this goal. Enhancing product profitability is the major priority, particularly for electric automobiles. Strong revenue positioning is one of the additional methods, notably in terms of after-sales-service, price enforcement, and innovative business models.

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