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]

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