In the first nine months of this year, the Audi Group generated revenue of €41,332 million (2018: €44,257 million).
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The decrease reflects a change in the Audi Group’s consolidated group.
Whereas the revenue and earnings of multi-brand importers were booked at the level of the Audi Group until the end of 2018, they are presented in the financial statements of the Volkswagen Group as of 2019.
Adjusted for these effects, the Audi Group’s revenue in the first nine months of the year was slightly higher than in the prior-year period.
In the automobile business of the Audi brand, the model initiative resulted in an improved product mix: Thanks to the market success of the full-size models such as the Q8, A6 Avant and the all-electric Audi e-tron, the Audi brand increased its revenue by 5.8 percent.
At Lamborghini, business continued to be driven by strong demand for the Urus* super SUV and the revenue of the Lamborghini brand rose to €1,343 million (2018: €813 million).
The Audi Group posted operating profit of €3,239 million for the first three quarters of the year (2018: €2,871 million).
Operating profit in the prior-year period had been reduced by special items in connection with the fine of €800 million imposed by the Munich II Public Prosecutor’s Office.
In the first nine months of 2019, there were adverse effects on the Audi Group’s operating performance primarily from the lower number of cars delivered and the resulting lower utilization of plant capacity.
Higher advance expenditure for future technologies also had an initially negative impact on earnings.
Higher personnel costs were partially offset by lower selling expenses.
Additional positive impulses for the key financial metrics came from the Audi Transformation Plan (ATP): From January through September alone, the company implemented numerous measures that will boost its operating performance by more than €1.3 billion over the full year.
Since the program started in 2018, the ATP has already freed up more than €3.3 billion. ■