Audi Group makes healthy profit despite semi-conductor crisis – forecast for 2021 adjusted


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Following record figures in the first half of the year, the third quarter is characterized above all by the crisis in semiconductors. After nine months, the Audi Group, in spite of the challenges, is in a respectable position overall in operating and financial terms. From January to September, the number of deliveries, revenue, operating profit, profit before tax and above all net cash flow are higher than in the previous year, which was affected by the corona pandemic. As expected, however, the ongoing shortage of semi-conductors had an effect on volumes and financial results in the third quarter. Audi has adjusted its forecast for the full year 2021: deliveries of the Audi brand are now expected to be approximately at the previous year’s level and revenue somewhat above the previous year. The guidance for operating profit and net cash flow will be increased.

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Audi

Audi AG is a German automotive manufacturer of luxury vehicles headquartered in Ingolstadt, Bavaria, Germany. A subsidiary of the Volkswagen Group, the company’s origins date back to the early 20th century and the initial enterprises (Horch and the Audiwerke) founded by engineer August Horch (1868–1951). Two other manufacturers (DKW and Wanderer) also contributed to the foundation of Auto Union in 1932. The modern Audi era began in the 1960s, when Volkswagen acquired Auto Union from Daimler-Benz, and merged it with NSU Motorenwerke in 1969.
Official website: Audi (Global), Audi (USA)

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