The Audi Group has reported an excellent financial performance in the 2022 fiscal year, achieving a revenue of €61.8 billion and an operating profit of €7.6 billion. Despite significant challenges in logistics and supply chains, the group's deliveries remained almost on par with the previous year. The brand group has also seen significant growth in deliveries of fully electric models and is committed to becoming a leading provider of connected, fully electric premium mobility. This article will discuss Audi's strong financial performance in 2022 and its commitment to sustainability.
The Audi Group closed the 2022 fiscal year with a record result, with a 16.4 percent increase in revenue to €61.8 billion and an operating profit of €7.6 billion, a nearly 40 percent increase. The operating margin also rose from 10.4 percent to 12.2 percent. The key drivers of this strong financial performance include consistent crisis management, a good price position, and strong results from the Bentley, Lamborghini, and Ducati brands. Despite major challenges in logistics and supply chains, the brand group delivered a total of 1,638,638 cars and 61,562 motorbikes, almost on par with the previous year.
In 2022, the Audi Group saw significant growth in deliveries of fully electric models, with an increase of around 44 percent in deliveries of fully electric cars. The persistent, strong demand for electric vehicles means the share of fully electric cars delivered rose from 4.8 percent to 7.2 percent. Audi is committed to becoming the leading provider of connected, fully electric premium mobility and is launching the largest product campaign in the company's history in 2023, starting with the future Audi Q6 e-tron model series. This model will be the first electric model based on the Premium Platform Electric (PPE), developed with Porsche, a key component for expanding Audi's global range of electric cars. The brand group's revenue rose to €61,753 million, particularly due to the strong price position and the one-off consolidation of the Bentley brand on January 1, 2022. The fully electric Audi Q4 e-tron, Audi e-tron GT quattro, and Audi e-tron models significantly contributed significantly to the increase.
Audi is committed to sustainable development following the ESG (environment, social, and governance) and is obtaining a comprehensive ESG rating from an independent rating agency, which will be published in the spring of 2023. The company is also building its automotive value chain based on the circular economy and aims to increase the share of recycled materials in the Audi fleet over the next few years to reduce its models' environmental footprint. Direct access to secondary materials is also likely to help improve long-term supply security. The brand group launched the MaterialLoop pilot project in October 2022 with 15 partners from the research, recycling, and supplier sectors, investigating reusing materials from cars that have reached the end of their life cycle to produce new vehicles. The Audi plants in Neckarsulm, Ingolstadt, and Győr in Hungary and the Volkswagen plant in Bratislava are already implementing the Aluminum Closed Loop. The company is investing two-thirds of its outlays, or around €28 billion, in the future fields of electrification and digitalization from 2023 to 2027.
One of the key components of Audi's strategy to become the leading provider of connected, fully electric premium mobility is the Premium Platform Electric (PPE), which the company developed together with Porsche. The future Audi Q6 e-tron model series will be the first production model to be based on the PPE, and it is expected to be unveiled in the second half of 2023.
In addition to its focus on electrification, Audi is also positioning itself as a leader in sustainable development. The company is obtaining a comprehensive ESG rating from an independent rating agency, which is due to be published in the spring of 2023. Audi is also building its automotive value chain based on the circular economy, intending to steadily increase its fleet's share of recycled materials over the next few years.
To support its transformation into a provider of sustainable, connected premium mobility, Audi is planning to invest two-thirds of its outlays, or around €28 billion, in the future fields of electrification and digitalization from 2023 to 2027.
Audi's record financial results in 2022 are a testament to the company's ability to navigate the global automotive industry's challenges while staying focused on its long-term strategic goals. As Audi continues to invest in electrification, digitalization, and sustainable development, it is well-positioned to become a leading provider of connected, fully electric premium mobility in the coming years.