Audi logs 2.7 billion euros in operating profit in first half of 2014

Article by Christian A., on August 5, 2014

Audi ended the first half of 2014 with a solid performance marked by record deliveries at 869,355 vehicles (up 11.4 percent), 83,761 of which were bound for the United Kingdom. The Audi Group logged EUR2.7 billion in operating profit in the first half of 2014, derived from EUR26.7 billion in revenues.

The carmaker also managed to achieve the upper end of its strategic target range of eight to 10 percent of operating return on sales.

Audi chief financial officer Axel Strotbek remarked that despite challenging conditions, the carmaker is “systematically continuing along its path of high-quality growth.” The German luxury carmaker is expecting to top 1.6 million cars in deliveries this year, on the way to break a record made last year.

In the first six months of 2014, the carmaker delivered 50 percent more A3 family models. It also logged a 10.1-percent surge in the combined deliveries of the A6, A7, Q7 and A8 models.

Despite negative currency headwinds, Audi was able to log a 5.8-percent hike in revenues in the first half of the year to EUR26.690 billion

Audi, however, saw its cost of sales in the first half of the year jump 8.3 percent to EUR21,870 billion, as the carmaker log higher research and development expenditure for innovative technologies and new products.

Distribution costs during the first half of 2014 also surged to EUR2.419 billion from EUR2.284 billion. The carmaker posted EUR3.102 billion in a profit before income taxes for the first half of 2014, compared to EUR2.974 in the same period in 2013.

Audi logged EUR2.323 billion in profit after income taxes in the first six months of 2014, compared to EUR2.178 billion in the same period last year. [source: Audi]

Topics: audi, profit

If you liked the article, share on:

Comments

Recommended

The wait for the Mustang’s GT-based Super Snake concept to be released is finally over. Shelby had recently collaborated with Ford Performance and Borla to come up with something that...
by - May 23, 2017
While the BMW M3 is making some noise in Abu Dhabi with its San Marino Blue outfit, Porsche on the other hand, is catching people’s attention in Dubai as the...
by - May 23, 2017
We first heard of the fifth generation SEAT Ibiza earlier this year, and last week, the company finally revealed the all-new Ibiza at the international launch in Barcelona. The new...
by - May 22, 2017
The aftermath of the Takata airbag recall still largely resounds in the automotive industry, as big automotive companies like BMW, Mazda, Subaru and Toyota were extensively hit with what is...
by - May 22, 2017
Amid reports that major rival Volkswagen would cease producing 2016 and 2017 model year diesel cars following the wake of the "Dieselgate" scandal, it’s believed that Chevrolet sees its opportunity...
by - May 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries