Fiscal year 2023:

CEO Gernot Döllner asserts: “We are strategically, economically, and technologically positioning ourselves for the future. The Q6 e-tron* marks Audi’s next leap forward in electric mobility.”

CFO Jürgen Rittersberger affirms: “Even amidst technological shifts and fiercer competition, Audi possesses the financial robustness to thrive.”

Revenue escalates to €69.9 billion, operating profit to €6.3 billion, and net cash flow nearly mirroring the previous year at €4.7 billion.

Financial highlights 2023

Under challenging economic climates, the Audi Group achieves a sturdy performance in the fiscal year 2023. Revenue climbs by 13.1 percent to €69.9 billion, with an operating profit of €6.3 billion and an operating margin of 9.0 percent. Net cash flow closely tracks the prior year at €4.7 billion. With a plethora of novel models, Audi will substantially reinforce and diversify its product range in the forthcoming years: The global debut of the fully electric Audi Q6 e-tron*, the maiden model on the innovative Premium Platform Electric (PPE), signals a wave of product unveilings. Over 20 fresh models are slated for launch in 2024 and 2025.

“We are strategically, economically, and technologically positioning ourselves for the future, rolling out our new offerings sequentially,” remarks Gernot Döllner, CEO of AUDI AG. “The cornerstone is a decisive agenda centered on our key spheres of operation: financial performance, top-notch products, and a pliable, nimble corporate framework. This propels the transformation amidst demanding economic landscapes.”

Expanding foothold across all pivotal regions

Internally, Audi, Bentley, Lamborghini, and Ducati pool their understanding within the Brand Group Progressive**. In the fiscal year 2023, the brand group dispatches 1,918,912 (2022: 1,638,638) cars and 58,224 (2022: 61,562) motorcycles to clientele. Audi, the flagship brand, sees a 17.4 percent surge in deliveries to 1,895,240 vehicles, propelled by soaring demand and enhanced supply conditions.

Audi has experienced robust expansion in its primary markets, Europe, China, and North America. To safeguard its long-term competitiveness, the corporation refines its regional strategies, augmenting market-specific offerings, particularly in China:

Starting in late 2024, the Audi FAW NEV Company Ltd., a joint venture with FAW, will roll out electric vehicles explicitly tailored to the Changchun Chinese market.

Continued robust growth in electric mobility

In 2023, the Audi Group witnessed resolute growth in deliveries of fully electric vehicles. Audi dispatches 178,429 fully electric models, marking a notable uptick of 51 percent. These figures underscore the company’s metamorphosis into a fully networked premium electric mobility purveyor.

In 2024, Audi will make strides in electric mobility. The Premium Platform Electric (PPE), a collaborative effort between Audi and Porsche, will serve as the technical foundation for forthcoming, technologically advanced fully electric vehicles. The PPE accommodates various models in the mid-size and luxury segments.

The inaugural Audi Q6 e-tron1, 2))) leads the charge: It represents Audi’s premier production model based on the PPE. As a harbinger of a new era in Audi models, the Audi Q6 e-tron* sets novel benchmarks in efficiency, range, charging capabilities, and aesthetics. The E3 1.2 electronic architecture is both updatable and upgradable, with a completely revamped operating concept. Audi thus embarks on the next stage towards fully connected vehicles. Additionally, the Audi Q6 e-tron* marks the first fully electric model to roll off the production line in Ingolstadt.

Simultaneously, Audi propels the shift towards software-defined vehicles (SDVs), prioritizing software-based solutions and the virtual customer experience. Collaborating with CARIAD, the Volkswagen Group’s software division, and the Volkswagen brand, Audi establishes an SDV Hub to facilitate this transition. Within this collaborative hub, specialists focus on the hardware, software, and electronic architecture for the next wave of electric vehicles.

Further revenue upsurge

Audi Group revenue surges to €69,865 (2022: 61,753) million in the fiscal year 2023. The 13.1 percent uptick over the previous year is chiefly attributable to robust sales performance, soaring demand, and a more stable supply landscape. Notably, the fully electric Audi Q4 e-tron* and the Audi Q3, Audi Q5, and Audi Q7 series substantially contribute to this growth. The proportion of EU taxonomy-aligned revenue escalates to 16.3 (2022: 13.5) percent.

Sturdy operating profit, anticipated operating margin range

The Audi Group’s operating profit reaches €6,280 (2022: 7,550) million, notwithstanding adverse effects from hedging transactions on raw materials. While these transactions yielded a positive impact of €0.8 billion in the preceding year, they dampened the operating profit by €-0.9 billion in 2023. The operating margin falls within the anticipated range of 9.0 percent.

In recognition of their endeavors during the demanding year of 2023, Audi grants its employees a share in the profits. For instance, a skilled laborer at the German facilities receives an Audi profit share of €8,840 (2022: 8,510) in 2023. Profit-sharing adheres to a formula stipulated in the labor agreement, factoring in the operating profit, among other variables.

Robust performance from Bentley, Lamborghini, and Ducati

The robust financial performance of the Bentley, Lamborghini, and Ducati brands bolsters the brand group’s outcomes. Lamborghini delivers 10,112 (2022: 9,233) cars to customers in the fiscal year 2023, marking a sturdy growth of 9.5 percent. Revenue surpasses the prior year by 12.1 percent, reaching €2,663 (2022: 2,375) million, with an operating margin of 27.2 percent and an operating profit of €723 million.

Bentley delivers 13,560 (2022: 15,174) cars, with revenue totaling €2,938 (2022: 3,384) million. The operating margin is 20.1 percent, and the operating profit is €589 million.

Ducati dispatched 58,224 motorcycles to customers last year—a slight decline compared to the record-setting year 2022 with 61,562 deliveries. The brand’s revenue stands slightly below the previous year at €1,065 million (€1,089 million in 2022). The operating margin reaches 10.5 percent, with a profit of €112 million.

Sturdy financial performance, robust net cash