Audi Group faced a challenging year in 2024, with a 7.6% decrease in revenue to €64.53bn ($70.51bn) compared to the previous year. The decline was primarily due to lower deliveries and model changeovers. Operating profit also took a hit, dropping to €3.9bn from €6.28bn in 2023, largely due to restructuring expenses, including the termination of production at the Brussels site.
Despite these challenges, Audi managed to achieve a net cash flow of €3.1bn, although it was lower than the previous year’s €4.74bn. The group, which includes Audi, Bentley, Lamborghini, and Ducati brands, collectively known as the Brand Group Progressive, delivered 1.7 million cars in 2024, a decrease from the previous year’s total of 1.91 million units.
Audi brand models saw a delivery decrease of 11.8% to 1,671,218 units, including 164,480 fully electric cars. Looking ahead, Audi plans to launch over 20 new models by the end of 2025, with half of them being fully electric, aiming to establish the youngest product portfolio in its market segments.
In 2024, Lamborghini delivered 10,687 cars and achieved a 16.2% revenue growth to €3.09bn. Bentley and Ducati reported lower delivery figures and revenues compared to the previous year but maintained strong operating margins.
Audi’s profit after tax declined to €4.18bn in 2024 compared to €6.26bn in the same period a year ago. Audi CEO Gernot Döllner acknowledged the challenges faced by the industry, emphasizing the company’s commitment to renewal and innovation.
Looking ahead to 2025, Audi anticipates revenue between €67.5bn and €72.5bn and an operating margin of 7-9%. The company projects a net cash flow in the range of €3bn to €4bn. Audi’s board of management and works council have negotiated an agreement to enhance productivity, speed, and flexibility at German sites, including job protection until 2033 and preparing for the transition to electric mobility.
Overall, despite the challenges faced in 2024, Audi remains focused on its path for renewal and growth, with a strong emphasis on innovation, efficiency, and market positioning. The company’s commitment to sustainability and electric mobility will play a key role in shaping its future success.
