Audi Group, the premium brand group that includes Audi, Bentley, Lamborghini, and Ducati, has reported its best financial performance ever for the 2022 fiscal year. Despite facing multiple crises such as supply chain disruptions, chip shortages, and pandemic-related restrictions, the group managed to increase its revenue by 16.4 percent to a record €61.8 billion ($69.9 billion) and its operating profit by nearly 40 percent to an all-time high of €7.6 billion ($8.6 billion). The group also saw strong growth in deliveries of fully electric models, which accounted for 7.2 percent of its total sales.
The group’s impressive results were driven by several factors: consistent crisis management, a good price position, strong demand for high-margin models such as SUVs and sports cars, and improved efficiency and productivity across its operations. The group also benefited from the solid performance of its subsidiaries Bentley, Lamborghini, and Ducati, which achieved record sales and profits in 2022.
The group’s operating margin rose from 10.4 percent in 2021 to 12.2 percent in 2022, exceeding its 9-11 percent target range. The group’s net cash flow reached €4.8 billion ($5.4 billion), the second-highest figure in its history after €5 billion ($5.7 billion) in 2019. The group’s financial result increased significantly to €1.5 billion ($1.7 billion) due to its profitable business in China.
The group delivered a total of 1,638,638 cars and 61,562 motorbikes in 2022, slightly below the previous year’s level of 1,688,978 cars and 59,447 motorbikes. The group faced major challenges in the logistics and supply chains, especially in the first half of the year due to chip shortages and pandemic-related restrictions. However, thanks to a strong performance in the second half of the year, the group recovered some of its lost sales.
The group achieved significant growth in Europe (+1.2 percent), Germany (+3.8 percent), and other core markets such as Italy (+11.9 percent), France (+6.5 percent), Spain (+10.4 percent), and Sweden (+12.6 percent). The group also saw positive developments in North America (+0.7 percent) and South America (+17.9 percent). In China (-5.8 percent), which is still Audi’s largest single market by far, the group faced a challenging environment due to regulatory changes and increased competition.
The group’s electric models were particularly popular among customers in 2022. The Audi Q4 e-tron was one of the best-selling electric models in Europe, with over 50,000 units delivered. The Audi e-tron GT quattro also saw strong demand with over 20,000 units sold worldwide. The Audi e-tron continued its success story as an electric pioneer with over 40,000 units delivered globally.