Even in 2020, a challenging business year, Audi vigorously drove ahead its transformation into a provider of sustainable and networked premium mobility. As a result of the pandemic, deliveries and sales revenue fell significantly in the first half-year. Thanks to a strong second half, including an excellent fourth quarter, sales revenue reached a total of approximately €50.0 billion in the 2020 business year. Operating profit before special items was €2.7 billion, and operating return on sales before special items was 5.5 percent. In addition to synergies in the Volkswagen Group, the Audi Transformation Plan (ATP) and Audi.Zukunft made important financial contributions. Net cash flow remains a strength of the company, with a figure of €4.6 billion. The reasons for this are continuing cost and investment discipline and the divestment of shareholdings within the Volkswagen Group amounting to some €1.5 billion. The company moved purposefully ahead with its e-roadmap: in 2021 alone, Audi doubled the number of all-electric models in its range and is also reinforcing its PHEV offensive. Subject to developments in the corona pandemic and the supply of semiconductors, Audi views 2021 with cautious optimism.
Investments in future models and technologies remain untouched at the Four Rings. In this way Audi is taking great strides forward in its electro-offensive during the pandemic. This business and strategic approach can be seen in the planned investments over the next five years. Almost half of the total foreseen investments of €35 billion will flow into future technologies – about €15 billion of this for electro mobility and hybridization alone.
In implementing the e-roadmap, the Chinese market plays a decisive role. The company is further expanding its presence here and purposefully carrying out the reorientation of its business model. Audi established an important milestone by founding the Audi FAW New Energy Vehicle Company, a cooperative venture with FAW, a partner of many years. On the basis of the Premium Platform Electric (PPE) jointly developed with Porsche, from 2024 onwards electric vehicles will be produced in Changchun (China) for the Chinese market.