Welcome to the Audi Report 2023! The combined annual and sustainability report of Audi brings together the topics of strategy, finance as well as Environmental, Social and Governance (ESG).
Key financial figures
Here you can find the key financial figures of the Audi Group.
Key figures January until September 2024
Deliveries
1,251,381
cars
Operating profit
2.1
EUR billion
Operating margin
4.5 %
Revenue
46.3
EUR billion
Net cash flow
3.8
EUR billion
Investment ratio
12.2 %
Keyfacts January until September 2024
- In the first nine months of 2024, the Brand Group Progressive delivered 1,251,381 cars of the Audi, Lamborghini and Bentley brands, a decline of 10.9 percent.
- Deliveries of fully electric Audi models decreased by 5.9 percent.
- Revenue fell by 8.2 percent to €46.3 billion due to lower sales and intense competition.
- Operating profit amounted to €2.1 billion and the operating return on sales was 4.5 percent – in particular the challenging market situation, restructuring expenses due to the reorganization of the Audi Brussels plant and various model changeovers had a negative impact.
- Net cash flow came in at €3.8 billion.
Deliveries
The non-financial indicator of deliveries to customers reflects the number of new cars of the Brand Group Progressive handed over to customers.
| Deliveries to customers | Compared with the prior-year level | deliveries to customers accumulated | Accumulated compared with the prior-year level | |
| First quarter 2024 | 402,048 | -4.7 % | – | – |
| Second quarter 2024 | 441,943 | -11.2 % | 843,991 | -8.2 % |
| Third quarter 2024 | 407,390 | -16.0 % | 1,251,381 | -10.9 % |
‘Audi is consistently working on its financial performance against the backdrop of a complicated macroeconomic situation and stiffer competition. Our current focus is on further increasing our efficiency and competitiveness.’
- Jürgen Rittersberger, Member of the Board of Management for Finance, Legal Affairs and IT, AUDI AG
Forecast
Anticipated development in the key performance indicators of the Brand Group Progressive 2024
| Deliveries of cars to customers | between 1.7 and 1.9 million vehicles |
| Revenue | between EUR 63 and 68 billion |
| Operating return on sales | between 6 and 8 percent |
| Net cash flow | between EUR 2.5 and 3.5 billion |
| Investment ratio | between 11 and 13 percent |
Explanation of the key performance indicators
The basis for the management of the Brand Group is a value-oriented corporate management approach in combination with the following key performance indicators, which are important drivers of our corporate development and support the goals of our strategy.
<p>The non-financial indicator of deliveries to customers reflects the number of new vehicles of the Brand Group Progressive handed over to customers. This performance indicator reflects demand from customers for our products and reveals our competitive and image position in the various markets worldwide. Strong demand for our products has a major impact on production, and consequently also on the capacity utilization of our sites and the deployment of our workforce. In addition, a continuing high level of vehicle deliveries reflects high customer satisfaction.</p>
<p>The financial key performance indicators include revenue of the Audi Group, which is a financial reflection of our market success.</p>
<p>Another key performance indicator is the operating profit of the Audi Group. This key figure represents the economic performance of our core business as well as the economic performance of our fundamental operational activity, and is defined as follows:</p> <p> </p> <p>Revenue</p> <p>– Cost of goods sold</p> <p>– Distribution costs</p> <p>– Administrative expenses</p> <p>+ Other operating income</p> <p>– Other operating expenses</p> <p><strong>= Operating profit</strong></p> <p> </p> <p>Our financial key performance indicators also include the operating return on sales of the Audi Group:</p> <p><strong>Operating return on sales</strong> = Operating profit / Revenue<br></p>
<p>Net cash flow, which serves as a benchmark of the Audi Group’s level of self-financing, is calculated as follows:</p> <p><br></p> <p>Cash flow from operating activities</p> <p>– Investing activities attributable to operating activities</p> <p><b>= Net cash flow</b></p>
<p>The investment ratio describes research and development activities and capex as a proportion of revenue.</p> <p>The research and development ratio expresses Audi’s innovative strength and also ensures that it maintains competitive cost structures.<br></p> <p>Research and development ratio = Research and development activities / Revenue<br></p> <p>Capex includes investments in property, plant and equipment, investment property and other intangible assets according to the cash flow statement. Here, capital investment in essence comprises financial resources for modernizing and expanding our range of products and services, for optimizing our capacities and for improving the Audi Group’s production processes. Investment decisions are requested by the specialist areas, then scrutinized and prioritized by Investment Controlling and the “Investment Group” corporate committee. Major decisions affecting investment policy are also approved by the Company’s Supervisory Board.</p> <p>Capex ratio = Capex according to the cash flow statement / Revenue</p>
Multi-year comparison
Key figures of the Brand Group Progressive
| 2021 | 2022 | 2023 | |
| Deliveries of cars to customers [¹] | 1,688,978 | 1,638,638 | 1,918,912 |
| Revenue (EUR million) | 53,068 | 61,753 | 69,865 |
| Operating profit (EUR million) | 5,498 | 7,550 | 6,280 |
| ROS | 10.4 | 12.2 | 9.0 |
| Return on investment (ROI) (percent) | 16.7 | 22.2 | 17.7 |
| Net cash flow (EUR million) | 7,757 | 4,808 | 4,740 |
| Research and development ratio (percent) | 7.4 | 7.3 | 7.8 |
| Capex ratio [²] (percent) | 3.8 | 4.2 | 4.7 |
[¹] including delivered vehicles built locally by associated Chinese companies
[²] Investments in property, plant and equipment, investment property and other intangible assets according to cash flow statement in relation to revenue
The historical key figures of the Audi Group can be found in the download area
