Audi Group reports 4.9 billion euro in operating profit for H1 2022

The company said that its potential performance was not achieved due to the ongoing semiconductor crisis and Covid-19-related lockdowns in China, which didn’t allow it to meet the high demand for its core brand vehicles.

Audi Group reports 4.9 billion euro in operating profit for H1 2022
With intensified cooperation in their Brand Group, Audi, Bentley, Ducati and Lamborghini will experience increasing benefits from synergies on this path into the future. Cooperation within the group gives the brands the freedom to focus on their individual strengths. Picture starting left: Claudio Domenicali (CEO Ducati Motor Holding S.p.A.), Stephan Winkelmann (CEO Automobili Lamborghini S.p.A./Huracan STO), Adrian Hallmark (CEO Bentley Motors Ltd.), Markus Duesmann (CEO AUDI AG) Products starting left: Ducati Panigale V4 SP2, Ducati Multistrada V4 S, Lamborghini Huracan STO, Bentley Flying Spur Hybrid, Audi RS e-tron GT

German luxury car major Audi Group has announced its financial results for the first half of 2022. The reported revenue came at 29.9 million euro (Rs 2,37,151 crore), which was 2% higher compared to same period last year, operating profit of 4.9 billion euro (Rs 39,871 crore), a growth of 58.46% compared to same period last year.

The company said that its potential performance was not achieved due to the ongoing semiconductor crisis and Covid-19-related lockdowns in China, which didn’t allow it to meet the high demand for its core brand vehicles. Earnings were driven by the good price position, the solid operating performance of the Lamborghini and Bentley luxury brands, and support from raw material hedging. The Audi Group has said that it is on track to meet its forecast for deliveries, revenue, and returns.

Markus Duesmann, Chairman of the Board of Management, Audi said, “Our financial performance in the first six months of 2022 shows just how strong and profitable our brand group is. Despite the challenging economic and geopolitical environment, we were able to increase revenue and returns significantly. At the same time, the current situation in the world makes it clear that economies and society need to move away from fossil fuels even quicker. Expanding renewable energies and switching to e-mobility are important steps in this direction. That’s why we’re on the right track with our strategic focus on e-mobility and carbon-neutral production.”

Audi Group First Half-Year: Operating Profit at All-Time High

In terms of sales performance, the company delivered 797,587 cars in the first six months (2021: 986,567). The OEM says that compared to record deliveries in the first half of 2021, deliveries of Audi brand automobiles fell by 20% to 785,099 (2021: 981,681). Demand remained strong despite the ongoing semiconductor crisis and COVID-19-related lockdowns in China.
On the two-wheeler front, Ducati delivered 33,265 (2021: 34,515) motorcycles. The decline of 3.6% compared to the strong previous year reflects semiconductor availability. With 5,090 (2021: 4,852) vehicles delivered, Lamborghini recorded an increase of 4.9%, while the British brand Bentley – the newest member of the brand group – sold 7,398 (2021: 7,199) vehicles.

When it came to EVs, Audi delivered 50,033 (2021: 32,775) vehicles, an increase of 52.7% over the previous year. The company says, the Audi e-tron remained particularly popular with customers but the Audi Q4 e-tron recorded the highest growth. Against this backdrop, the share of all-electric vehicles delivered by the brand group increased to 6.3%.

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